News – 2012.06.22

Published: June 22, 2012

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

 

MSCI could rate Saudi Arabia as emerging market if access improves

Index compiler MSCI Inc said it could rank Saudi Arabia as an emerging market alongside countries such as Brazil and China, if the oil-rich kingdom moves ahead with longstanding plans to open up its stock market to foreign investors. That could vault Saudi Arabia above smaller regional markets …

Opinion: The Eighth Saudi Crown Prince

Ultimately, the King surprised us, not with his choice of Crown Prince, because he chose an active and prominent member of the ruling system, but rather because he resolved the matter so quickly, in less than 24 hours after the Saudi state had begun mourning….

Audio: Untangling the web of Saudi family politics

The official announcement Monday came the day after the burial of Prince Nayef, who died last week in Geneva. He had been named the heir to the Saudi throne in November. The 76-year-old Prince Salman is the third successor for the 88-year-old King Abdullah in the past year in one of the West’s …

Al Saud and the future

What no Saudi can deny, whatever his or her grievances may be, and however legitimate those grievances are, is that the Al Saud have kept the country stable and in one piece for over a century. This has allowed the Saudi citizen to benefit from the country’s oil wealth and live a life of safety …

Education, Women’s Empowerment and Change

There has been a significant investment in education, which is great. In the last eight or nine years the number of Saudi Universities has more than quadrupled from about seven to over 30. Some of that increase has been through splitting up existing, very large universities, like King Abdul …

Under the abaya, Saudi women grasp reform toehold

‘A lot of women are designing their own abayas now,’ she said of her reversible garment. Indeed, the glitzed-up abayas being seen all over Saudi Arabia, stand as a metaphor for the gains women are making in this oil-rich kingdom. Women are not throwing off their cloaks, but they are making …

Why talking with Iran without any results is better than not talking at all

Outnumbered six to one, Iranian negotiators did a classic job in Moscow earlier this week (June 18-19) of defending past positions, raising old grievances and demanding concessions that they knew they would not get. US officials offered little and got nothing in return — but cannot be accused …

The Perils of Tough Talk

Part of the problem for this Administration and the next is a proposition that has been adopted by large majorities of both Democrats and Republicans: that Iran’s nuclear program is essentially the greatest strategic threat the United States faces today. Because both parties have concluded that …

In Iran, They Want Fun, Fun, Fun

One of the most pernicious misunderstandings in the West about Iranians is that they are dour religious fanatics. About half of Iranians are under the age of 25, and Iran has done a solid job of raising their education levels. I was struck on my 1,700-mile road trip across Iran by how many …

The Coming Oil Crash

The biggest uncertainty in the global oil market isn’t whether oil prices will drop further — they seem likely to — but how long they will stay down. Now, a convergence of forces is weighing on petro-rulers’ nerves: Europe’s economic crisis; a slowdown in Chinese growth including the demand …

Pakistani ruling party names new premier nominee, calls early elections amid political turmoil

Pakistan’s ruling party named a loyalist tainted both by corruption allegations and failure to end the country’s energy crisis as its candidate for prime minister, setting up what is likely to be a short and turbulent premiership. The announcement of Raja Pervaiz Ashraf as premier-designate …

Saudi Arabia denies asking its citizens to leave Lebanon

Saudi Arabia denied Friday a media report saying it had called on its citizens in Lebanon to leave the country by the end of June. “The news that appeared in a local newspaper is totally false and we are surprised that some media outlets circulated such rumors which causes fear in citizens …

Twenty dead in Taliban siege of Afghan hotel; NATO blames Haqqanis

Elite Afghan police backed by NATO forces ended a 12-hour siege on Friday at a popular lakeside hotel outside Kabul, leaving at least 20 dead after Taliban gunmen stormed the lakeside building, bursting into a party and seizing dozens of hostages. The night-time assault on the hotel with …

Things I Learned from People Who Tried to Kill Me

In the spring of 2011, I deployed to eastern Afghanistan for ten months as a Village Stability Operations (VSO) detachment commander where my team faced a determined enemy whom the United States had been fighting for over a decade. Our mission was to connect the villagers of a highly …

Saudi’s Islamic finance assets at $94bn

Saudi Arabia, one of the main contributors to the global Islamic finance industry, has an estimated $94bn in Islamic finance assets, Deloitte has said in a new report. The Deloitte Middle East Islamic Finance Knowledge Centre (IFKC) report said Saudi Arabia’s asset represent 26 percent out of …

Saudi Aramco, Sumitomo to sign Rabigh deals soon

State oil giant Saudi Aramco and Japan’s Sumitomo Chemical are close to signing multi-billion-dollar contracts to expand their petrochemical complex in Saudi Arabia, industry sources said. Aramco and Sumitomo have taken longer than expected to pick contractors for the Rabigh II petrochemical …

Saudi local content escalates along Aramco’s GES+ initiative

Foster Wheeler, Jacobs, KBR, Mustang and SNC Lavalin signed GES+ contracts with Saudi Aramco Saudi Aramco’s General Engineering Services Plus (GES+) initiative requires that the majority of its engineering services requirements be conducted in the Kingdom of Saudi Arabia in order to enhance …

Pratt & Whitney Celebrates the Inauguration of a New Middle East Propulsion Company Facility

The Middle East Propulsion Company, a joint venture between Pratt & Whitney’s parent company United Technologies Corporation, Saudi Arabian Airlines, Mohawearean Aviation Services Company and MTU Aero Engines has opened a new aircraft-engine maintenance facility in Riyadh, Saudi Arabia, to …

Saudi food bank gives life to leftover meals

Millions of meals are left over from extravagant Saudi feasts and dinner parties, only to meet their fate at the garbage dump. But one charity in the eastern city of Dammam aims to change that by setting up a food bank to collect those uneaten dishes, instead giving them to the less …

Saudi contractors eying consortia to buy cheap steel abroad

The Saudi Gazette reported that the decline in international steel prices and the lack of response from national industry to follow suit, encourage some Saudi contractors to form consortiums to import foreign steel. Mr Mohammed Saad contractor said that importing steel is supported by …

Disturbing Youth Trends in Saudi Arabia

Saudi Gazette takes a look at youth culture in Saudi Arabia today and sadly shakes its head. One article focuses on the growth of Emo culture among young teens. Now, this is truly something that can be blamed on Washington, DC, as Emo music got its start there in the 1980s as an offshoot of …

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