News – 2012.05.29

Published: May 29, 2012

SUSRIS Daily News – Excerpts from International Media Reports</strong>
/Provided as a service from the Saudi-US Trade Group, Washington, DC/

 

Oil Nations’ Budgets Will Put a Floor Under Oil Price

Oil-producing nations have watched from the sidelines or nodded in approval as crude prices have fallen in recent weeks, but if the trend continues it will only be a matter of time before they flex their muscles. Rising government spending in many of these countries means they can’t afford …

Western Nations Expel Syrian Diplomats

Britain, France, Germany, Italy and Canada said they were expelling Syrian diplomats in protest at the killing of civilians, including the deaths of 108 people shot in their homes last week. The move comes as Western powers attempt to press Russia, a strong backer of Syrian President Bashar …

Saudi Aramco Pumped 9.1 Million Barrels a Day Oil in 2011

Saudi Arabian Oil Co., the world’s largest crude exporter, pumped 9.1 million barrels a day of oil on average last year, the state-run company known as Saudi Aramco said in its annual review. Average daily output rose 15 percent from 2010, according to the review posted today on Aramco’s …

Protests erupt as runoff set for Egypt’s presidential election

New protests erupted in Egypt’s capital after news that ousted strongman Hosni Mubarak’s former premier will face off against a representative of the Muslim Brotherhood in the country’s presidential runoff. In Tahrir Square, several thousand protesters called on Egyptian courts to disqualify …

Saudi says to complete minimum wage study within 4 months

Saudi Arabia aims to complete a study on setting a minimum wage for private sector workers within four months, local media quoted the labour minister as saying, part of a government drive to make jobs more appealing to nationals and cut unemployment. The jobless rate in the world’s top oil …

Chevron May Use Solar in Oilfield Shared by Kuwait, Saudi Arabia

Chevron Corp. (CVX) may use solar energy to produce the steam needed for heavy oil production from an oilfield straddling the border of Saudi Arabia and Kuwait. Chevron may pilot the solar plant at the end of 2013, Hashim al-Rifaai, chairman and managing director of Kuwait Gulf Oil Co., told …

U.S. officials among the targets of Iran-linked assassination plots

In November, the tide of daily cable traffic to the U.S. Embassy in Azerbaijan brought a chilling message for Ambassador Matthew Bryza, then the top U.S. diplomat to the small Central Asian country. A plot to kill Americans had been uncovered, the message read, and embassy officials were on the …

NATO kills senior al-Qaida leader in Afghanistan

The U.S.-led NATO force in Afghanistan killed al-Qaida’s second-highest leader in the country in an airstrike in eastern Kunar province, the coalition said Tuesday. Sakhr al-Taifi, also known as Mushtaq and Nasim, was responsible for commanding foreign insurgents in Afghanistan and directing …

Opinion: The Saudi attitude toward time

The importance attached to time, I would argue, is one of the peculiarities of modern civilization, especially in our current “high-speed era”. Generally speaking, people of other nations have a heightened awareness and appreciation of time. In Saudi Arabia, on the other hand, the situation is …

Saudi urged to curb spending

“In analyzing the external environment, panelists agreed that China has remained a bright spot in the midst of a fog of uncertainty and that the Eurozone has re-emerged once again as a major risk to global financial stability and economic growth,” said Ali Aissaoui, senior consultant at the …

Saudi Arabia Housing Sector Exhibiting Astronomical Growth

According to a new report by RNCOS, “Saudi Arabia Housing Sector Outlook”, Saudi Arabia continues to attract massive investments and remains a favored destination for real-estate developers around the world. Real-estate investments were expected to reach nearly US$ 400 Billion in 2010; up by …

Saudi Market Won’t Open to Foreigners Now, Eqtisadiah Says

Saudi Arabia’s Tadawul stock exchange doesn’t plan to open the market to overseas investors at the moment, Al-Eqtisadiah reported, citing Tadawul Chief Executive Officer Abdullah bin Saleh al-Suwaylme….

Pirates hold Middle East supply chains to ransom

This year marks a turning point in piracy activities. The number of vessels captured in 2011 compared to 2010 reduced by over 50% and further reductions are expected in the coming years. However, as the success rate for capturing ships decreases, ransom requests are getting higher and Somali …

Are terrorists beyond redemption?

The record shows that some radical groups can be persuaded to give up the gun when the combination of inducements and local conditions is right. It’s an imprecise prescription. But a combination of the heavy stick of the state, followed by giving militant leaders positive incentives to rejoin a …

Symposium Reviews The Gulf Cooperation Council as it Turns 31 (Part 1)

There was also an observance of the GCC’s milestone in Washington last week as the National Council on US-Arab Relations (NCUSAR) assembled a distinguished panel to discuss the “Implications of Trends and Indications for GCC and US Interests.” The panel included: Dr. John Duke Anthony …

Saudi Arabian Airlines Officially Becomes ‘Saudia’, Embraces Privatization

Saudi Arabian Airlines has today been formally renamed Saudia and has become a full member of the SkyTeam alliance while at the same time confirming the first stage of the long-awaited privatisation will go ahead in the next month….

Al-Tayyar IPO raises $365m, six-times covered

Saudi Arabian group Al-Tayyar Travel raised 1.37 billion riyals ($365.3 million) from its 30-per cent initial public offering which priced at the top of its price range, figures from the lead manager said. The offering was 6.1-times oversubscribed with the tranches open to retail and …

Saudi Almarai in $4.2 bln, 5-year investment plan

Saudi Arabian dairy and food producer Almarai Co’s board has approved a 15.7-billion riyal ($4.2 billion), five-year investment plan that will draw on finance from bank loans and Islamic bonds, it said on Tuesday. The money will replace the company’s existing investment base and fund …

TASI: 5/29/2012

Responsibilities of Saudi CFOs in constant flux

The economy is appearing to be recovering from the global economic crisis, and having sustained through the rough weather, the top priority for all businesses today is to protect their organisation from risk. Specifically, in the Gulf, companies are now looking for expansion and higher top …

Saudi woman opens first women-only ‘pharmacy’

Shaikha Al-Radii, a Saudi woman, is paving the way for women to work in local pharmacies. She has opened the first pharmacy in the Kingdom to be solely staffed by women….

A Woman’s Defiance of Saudi Religious Police

Clearly upset and outraged at being asked to leave a Saudi mall for wearing nail polish, a lone Saudi woman takes on the religious police and tells them it is they who should leave. The woman repeatedly asks the religious police why they are following her, and in what capacity they are doing …

Saudi Arabia’s Energy Crisis

So what has been happening to lead us to the point where the world’s leading oil exporter is investing in renewable energy sources? To address that question we provide for your consideration an essay by journalist Robert Lebling, currently a Senior International Affairs Fellow at the National …

Sabre inks Saudi Arabian deal

Sabre Travel Network Middle East, a technology company serving travel agencies and suppliers, said it has extended its fare-distribution agreement with Saudia Arabian Airlines. The agreement means more than 350,000 travel agents connected to Sabre will be guaranteed access to Saudia’s seats …

Fire safety in Qatar questioned after new blazes Tuesday

Fires broke out at an aviation college and a girls school in Qatar on Tuesday, a day after 19 foreigners died in a blaze at a shopping mall, focusing attention on safety standards in the Gulf Arab state….

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