News-2012-11-23

Published: November 23, 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

Gulf’s private sector boom still vulnerable

Four years after a collapse of oil prices savaged Gulf Arab economies, private business activity in most of the region is thriving again. Yet problems with financing and regulation could cut short the boom. Corporate executives and economists at the Reuters Middle East Investment Summit this …

What Obama’s Re-Election Means for U.S.-Iran Negotiations

Optimism when it comes to diplomacy with Iran is usually misplaced. But the re-election of Barack Obama has opened a new window for negotiations with the Islamic Republic and there is reason for modest hope that the current crisis over Iran’s nuclear advancement can be defused. Had Mitt …

Saudi continues to import oil to maintain spare capacity

Saudi Arabia, the world’s largest crude exporter, doubled imports of fuel oil this year and is poised to maintain them at a high level to preserve its spare capacity for producing crude, Energy Aspects said. The country imported an average of 75,400 barrels a day of fuel oil from May to …

Opinion: Gaza Crisis Reveals Israel Is Talking

When the dust settles, they in Jerusalem will realize, too, that they actually held negotiations with Hamas and nothing terrible happened. They are still alive. They will find out, if they stop for a moment to think, that the current regime in Cairo is not all that different from Hamas. After …

Saudi Arabia to Fine Firms With Too Many Foreign Workers

Like most Gulf countries, Saudi Arabia has a major unemployment problem among its citizens, resulting in a jobless rate of 10.5 percent, according to government figures. The government has been trying to encourage companies to hire Saudi citizens for years with little impact….

IPOs may help revive Saudi’s stock market

After a stellar start to the year, Saudi Arabia’s stock market has lost its momentum because of disappointing earnings at blue-chip companies. Now investors are hoping a spate of new listings of family-owned businesses will restore energy to the market….

Meeting the Rent

An article in Saudi Gazette gives an interesting look into how apartment rents are handled in Saudi Arabia. Unlike most of the world where rent is paid monthly on a fixed-term lease, Saudis pay rent quarterly, semi-annually, or annually. The requirement to come up with substantial amounts of …

Gaza deal seals major role for Egypt’s president

The Gaza cease-fire deal reached Thursday marks a startling trajectory for Egyptian President Mohammed Morsi: an Islamist leader who refuses to talk to Israelis or even say the country’s name mediated for it and finally turned himself into Israel’s de facto protector. The accord inserts …

The Israel-Gaza Conflict: A Guide to the Major Players

The conflict between Israel and Hamas is the most intense fighting in Gaza since the Arab Spring uprisings began to change the dynamics of regional politics in the Middle East. Here’s a list of some of the regional and international forces at play. Middle East experts say the outbreak of …

How Will US Shale Oil Change the Global Energy Market?

‘An average well drilled in Saudi Arabia produces 26 times more oil than one in North Dakota, the prime shale region at the moment,’ says Child. That means the United States could compete with other big exporters only by covering its landscape with rigs. It is likely that environmental …

Drilling oneself out of oil dependence

The lead editorial in the Wall Street Journal on November 13, titled ‘Saudi America’, commented on ‘the irony–and the opportunity–in [a recent] report that the US likely to surpass Saudi Arabia as the world’s largest oil producer as early as 2020′. Really?The editorialist attributed the …

Saudi cost of living index grows 3.8%

Saudi Arabia’s cost of living index in October rose by 3.8 percent from a year earlier, according to data issued Monday by the Central Department of Statistics and Information, with 1999 as the base year for calculations. The cost-of-living index in the Arab world’s largest economy stood at …

Zamil Industrial eyes two potential acquisitions for up to $80m

Zamil Industrial Investment Company, the fourth largest Saudi Arabian industrial firm by market capitalisation, may buy two companies in the Gulf kingdom’s construction and building materials sector for as much as SAR300m (US$80m) in the coming year, the CEO said.’We have two companies that we …

Saudi family seeks help for parentless children

Saudis have urged their country’s authorities to allow entry to two Saudi children who have lost their parents. Jannat and Mohammad were born in Iraq to Mazen Al Masawi, a Saudi man who was executed in the summer by Iraqi authorities, and an Iraqi mother who died.The orphans stayed with their …

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