News-2012-11-15

Published: November 15, 2012

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

Russia’s Lavrov in Saudi seeking progress on Syria

Russian Foreign Minister Sergei Lavrov condemned the bloodshed in Syria as ‘outrageous’ on Wednesday and urged opponents of President Bashar al-Assad inside and outside the country to form a united front to end the crisis. Lavrov met with foreign ministers of the six-member Gulf Cooperation …

For Saudi Football, a Moment in the International Spotlight

Saudi Arabia’s national football team has had its ups and downs in the last decade, thus far struggling to make a name for itself as a contender in a world full of elite national teams. Nevertheless, the ups and downs of the Saudi program are closely followed by Saudis all over the world and …

Saudis Start down the Nuclear Power Path

There’s a lot going on in Saudi Arabia’s electricity sector. The Saudis will start building their first nuclear reactors for power generation next year, according to this Arab News report. At the same time, they will be expanding solar power generation. High tension towers are going to be …

Saudi sets new foreign hiring policy

Private-sector companies in Saudi Arabia that employ more foreigners than nationals are to be fined from today as part of a government bid to get more Saudis into work. Companies with a majority of foreigners will have to pay 2,400 Saudi riyals (Dh2,350) per year for each additional foreign …

Kingdom joins WHO to promote diabetes awareness

In observance of World Diabetes Day, Saudi Arabia is joining the World Health Organization (WHO) today in a series of interactive programs, aiming to raise awareness about the disease and highlight preventative measures.An official from the Ministry of Health told Arab News that this year’s …

Saudi Arabia Reforms Real Estate Mortgage Law

The issuance of the new mortgage law (the Mortgage Law) for the Kingdom of Saudi Arabia on July 2, 2012, has, in the words of many commentators, the potential to be a ‘game changer’. It is unusual that the adoption of a specific law or regulation has the possibility of being transformative in …

Could Saudi-style protectionism hurt the GCC?

Saudi Arabia applies the common GCC tariff of 5 per cent for many goods. But other imports, such as plastic bags and matches, are still slapped with a 20 per cent duty. Tents, aluminium bars and rods, and furniture are subject to a 15 per cent tariff, with a 12 per cent tariff on 294 further …

What’s going to get MENA’s young people to work?

MENA’s upcoming Flagship Report on Jobs makes an urgent case for greater private sector employment in the region. But multiple factors pose a challenge: Informal employment in MENA (67 percent of the workforce) is higher than other middle income regions, such as Latin America (61 percent) and …

Unprecedented development witnessed by KSA in 1433H

Saudi Arabia witnessed unprecedented progress in the educational, health and industrial sectors during the Hijrah year 1433 (2012) which ended yesterday, under the leadership of Custodian of the Two Holy Mosques King Abdullah and Crown Prince Salman.King Abdullah successfully strengthened Saudi …

China Energy Outlook: An Inside Look at Chinese Energy Thinking

Globally, only two reports are published on an annual basis wherein the world’s energy situation is fully scrutinized. These have a huge impact because in many government and company decision boardrooms – at least in Western Europe – everything which is written inside the two reports are seen …

Israel attack on Gaza: Familiar tension, new circumstances

Israel’s surprise air assault on Gaza Strip militants killed the top military commander of Hamas and set the rivals on a familiar course that could end with another major confrontation — but in unpredictable new circumstances created by the ‘Arab Spring.’ Compared with its past campaigns …

The Iranian Take on Obama’s Reelection

An activist in Tehran told Tehran Bureau that, in his view, the overwhelming sentiment in Iran, among those who were cognizant of the U.S. presidential election, was positive. ‘There was a visceral fear of a Romney presidency in terms of a possible war,’ he says. ‘But I imagine the leadership …

Obama still banks on Iran diplomacy

President Barack Obama promised to launch a new diplomatic push to solve the longstanding crisis over Iran’s disputed nuclear program, saying there was still a ‘window of time’ to end the standoff. His comments came amid speculation about possible direct U.S. talks that surfaced just before …

Obama rebukes Republicans over Benghazi, backs UN Ambassador Rice

President Barack Obama told Republican senators on Wednesday that if they had a problem with the handling of the Benghazi attack in Libya, to ‘go after me’ rather than pick on his ambassador to the United Nations, Susan Rice. Obama’s comments, in a combative tone, came after two senior …

Pakistan Releases Taliban Prisoners, Fueling Hopes for Peace Talks

A senior Pakistani security official, speaking on condition of anonymity, said that ‘seven to eight’ Taliban prisoners had been set free but refused to name them. A Western official said the figure could be as high as 14 prisoners. News reports citing Afghan officials said the freed prisoners …

Oman: Multi-billion expansion in real estate market

The value of real estate transactions in the sultanate increased by nearly 60% year-on-year in the first five months of 2012, hitting $2.1bn in that period, with the market displaying significant demand for industry- and logistics-related facilities as well as luxury residences, Global Arab …

Postcard From Amman

emonstrations broke out in many parts of Jordan last night after the government announced the reduction of energy subsidies. Demonstrations are not new–there have been regular demonstrations in Jordan since the advent of the Arab uprisings. What was new was the fusion of economic discontent, …

Saudi Aramco Opens Head Office in Beijing

Aramco Asia, a solely-owned subsidiary of Aramco, opened on Monday and will serve as the business and cultural exchange portal between Aramco and China. The new head office in Beijing has two supporting branches in Shanghai and Xiamen, it said. ‘Our new Asia office here in Beijing will be a …

Saudi Aramco inks deals on 400,000 bpd Jizan plant

Saudi Aramco, the world’s biggest oil producer, signed deals on Wednesday worth an estimated $6 billion to build a refinery in the impoverished region of Jizan that will pump out up to 400,000 barrels of oil per day. The state-run firm signed the engineering, procurement, construction …

Saudi Economy: November 2012 Jadwa Chartbook

The Jadwa Investment firm in Riyadh introduced the ‘Saudi Chartbook’ to provide a quick, chart-based briefing on the key developments and trends in the Saudi economy and stock market. SUSRIS is pleased to provide the summary from the November Saudi Chartbook and links to the complete reports in …

Saudi millionaire launches rival bid for Leeds United

GFH Capital’s bid to buy Leeds United will come under pressure from a rival offer from Saudi Arabia unless the Dubai-based firm completes its takeover before the end of the month. An alternative proposal backed by Saudi Arabian money is due to be made in the next three weeks if GFH Capital …

Petrochemicals cited as total non-oil exports from Saudi Arabia to the US decline in August and September

Based on U.S. Census Bureau data, the value of non-oil exports from Saudi Arabia to the U.S. dropped from $127 million in August 2011 to $94.1 million in August 2012. The month over month drop for September 2011 to September 2012 was even steeper, moving from $146.4 million to $106.7 …

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