News-2013-01-01

Published: January 1, 2013

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

Saudi Tadawul leads Arab bourse recovery in ’12

Most Arab stock markets registered an increase as 2012 ends, with Saudi Arabia and the UAE emerging as the star performers throughout the year, as their combined market capitalization swelled by nearly $49 billion, figures from the Abu Dhabi-based Arab Monetary Fund showed. Official data …

Opinion: An evening with the minister of labor

There are 7 million non-Saudi workers making a living here, while there are 2 millions Saudis looking for a job. The math is simple. Now, having said that, we could say the ministry’s strategy is based on two main pillars: The first, to give Saudis, males and females, a fair chance to compete …

65% of Saudis lack homes: CDSI

Housing is a major concern for the largest portion of the Saudi population as 65% of Saudis are not homeowners, according to the Central Department of Statistics and Information (CDSI). To intensify this issue, the Saudi population of just over 28 million is drastically increasing. According …

Gallup’s Top 10 World News Findings of 2012

Gallup in 2012 published more than 100 articles about the attitudes and behaviors of residents in more than 140 countries. Through its World Poll, Gallup systematically tracks and reports on wellbeing, leadership approval ratings, confidence in national institutions, employment rates, and other …

It’s boom time for Saudi ports

Saudi ports have witnessed a boom in expansion projects, Al-Eqtisadiah newspaper reported. The volume of projects in both sea and land ports increased to SR 4 billion, it said.According to official data from the Saudi Ports Authority, its revenues increased during the fiscal year of 2012 to SR …

Saudi Arabia real estate market: New market research published

Important developments in Saudi Arabia are supporting our positive outlook for the country’s residential housing market. Two moves in particular suggest that the construction industry will meet our forecast of 9.3% real growth over 2012. Firstly, the kingdom has embarked upon the first stage of …

Labor fees: Another opinion

It is absolutely futile to try to nationalize jobs in other sectors such as agriculture because these are areas that Saudis usually avoid. The Madinah farms are a good example of this. The sons of the owners of these farms are receiving financial assistance under the Hafiz program, while …

Saudi eyes bonds to fund airport expansion

Saudi Arabia’s government will issue bonds next year backed by the kingdom’s ministry of finance to fund construction work at airports in Riyadh and Jeddah, Finance Minister Ibrahim Alassaf has told Al Arabiya television.’The rest of the bonds for King Abdulaziz Airport in Jeddah and King …

Saudi firm inks land sale to fund UAE takeover

Saudi Printing and Packaging Company said announced that it has signed a contract to sell part of its land to finance the acquisition of a UAE plastics firm.It said it was selling land located in Dhahban area in Jeddah – an area of 330,000 sq m – valued at SR215.5m ($57.4m).The company said in …

New airline operating licences in Saudi may take 3-6 months

Foreign airlines may need about three to six months to obtain operating licences letting them enter Saudi Arabia’s domestic aviation market, a spokesman for the General Authority for Civil Aviation (GACA) said on Saturday. GACA announced on Friday that Qatar Airways and Bahrain’s national …

Saudi Arabia To Create Sovereign Fund For Future Generations

Al-Assaf also disclosed plans to set up a sovereign fund to support future generations. ‘The Supreme Economic Council is currently studying a proposal on this matter,’ the minister said while talking to Channel One of Saudi Arabian Television. The new fund aims at channeling part of the …

Saudi Arabia bans students from studying in Sudan

Saudi Arabia will no longer allow its students to study at universities in Sudan due to increasing political tensions, an embassy official has said.The Gulf state, which provides full funding for some 125,000 students abroad annually, said it will relocate pupils currently studying in Sudan, …

Opinion: The Year the Arab Spring Went Bad

In the heady days of (relatively) peaceful mass mobilizations that brought down dictators in Tunisia and Egypt, the mantra from American observers in 2011 was: ‘Now comes the hard part.’ In 2012, it came — with a vengeance. But my guess is that many of those watching the Arab Spring unfold …

Israeli fence construction cuts off migration from Egypt

The number of migrants crossing the border between Egypt and Israel dropped to zero last week for the first time since 2006, as construction of the last small sections of a 150-mile fence is due to be completed in the coming weeks. A total of 36 migrants crossed into Israel from Egypt in …

The Complex Mechanics of Removing US Sanctions on Iran

The United States is enforcing two types of sanctions on Iran: congressionally mandated ones enacted via legislation, and executive-branch-driven ones instituted via executive order. The repeal or amendment of the congressionally enacted ones must follow the same legislative process all bills …

TASI – 1/1/13 – up .86%

Provided as a service from the Saudi-US Trade Group, Washington, DC