News-2012-12-11

Published: December 11, 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

Isuzu Trucks to be made in Saudi Arabia

In its efforts to diversify its economy, Saudi Arabia is about to open an assembly plant for Isuzu light pick-up trucks in Dammam, Arab News reports. While the plant will employ only 800 people to start with, it is expected to develop. Within three years, officials say, the plant should have …

Are Members of Royalty “Foreign Officials” Under the FCPA?

For U.S. companies conducting business abroad, the Foreign Corrupt Practices Act (FCPA) is a constant companion. The FCPA, ‘applies to any person who has a certain degree of connection to the United States and engages in foreign corrupt practices. The Act also applies to any act by U.S. …

Saudi private sector to get 2-day weekly holiday

Saudi Arabia is planning to allow its private sector to have a two-day weekly holiday on par with its public sector in a bid to upgrade output and lure nationals into private jobs, a newspaper in the Gulf Kingdom reported on Tuesday. King Abdullah bin Abdul Aziz endorsed a request by Shura …

Status and functions of English in Saudi Arabia

ARTICLE 50 of the Educational Policy in the Kingdom of Saudi Arabia states that students should learn at least one foreign language so that they may interact with people of other cultures for the purpose of contributing to the message of Islam and serving humanity. This sets forth the rationale …

Saudi Arabia Makes Big Bet On Solar

The reality is that solar power has come of age and is now a bankable technology attracting the likes of Buffett and Google and KKR and Blackstone and Walmart and MetLife because it garners double-digit returns on investment. Smart money and the Saudi’s know solar works; why don’t …

Saudi Arabia reform still easier said than done

Take, for example, the announcement by King Abdullah bin Abdulaziz this year that women would join the Shura Council in 2013 and be allowed to vote in municipal elections in 2015. The king’s announcement was met almost immediately with criticism from conservatives. A senior imam, Sheikh …

Saudi labor minister meets with tweeps over expat workers fees

Saudi Arabia’s ministry of labor invited for the first time micro-blogging website Twitter users to a one-to-one meeting after news of increasing expats labor card fees created uproar among the kingdom’s Twiteratis. The ministry recently decided that private sector employers who hire more …

Saudi banks head for record profits in 2012

Saudi Arabia’s 12 banks could be heading for their best financial year following negative profit growth during 2009-2010, data from the Saudi Arabian Monetary Agency ( SAMA) showed. Releasing its monthly report, SAMA put the total net earnings of the banks at SR28.75 billion during the first 10 …

Al Toraifi Named Editor of Asharq Al-Awsat

Adel Al Toraifi will replace Tariq Alhomayed at the helm of Asharq al-Awsat newspaper effective January 1, 2013, local media reported today. Alhomayed, who has been editor-in-chief of the paper for the past eight years, told Sabq he has informed management few months ago that he wants to …

Ambassadors call Madain Saleh an archaeological wonder

Madain Saleh dates back to the second century BC. It is the largest and best-preserved site of the Nabataean civilization south of Petra in Jordan and the first Saudi archaeological site to be included in UNESCO’s world heritage list.The site is located 320 kilometers north of Madinah and …

Russia, China, Saudi Arabia Call For Worldwide DNS Restrictions

At the ongoing International Telecommunications Union conference in Dubai, bureaucrats from 193 countries are rewriting the obscure UN legislation that oversees how the Internet works. The conference turned into a three-way showdown between authoritarian states such as Russia and China, web …

The West must prepare for Syria’s endgame

Over the past century, civil wars have been getting longer. Between 1900 and 1944, they tended to last just one and a half years. By 1999, they stretched to an average of 15. Will Syria, like Libya’s eight-month revolution, defy this trend and wrap things up within two years? Or, like Lebanon …

IMF loan to Egypt delayed amid political turmoil

A vital $4.8 billion International Monetary Fund loan to Egypt will be delayed until next month, its finance minister said on Tuesday, intensifying the political crisis gripping the Arab world’s most populous nation. As rival factions gathered in Cairo for a new round of demonstrations, …

Daring Special Ops rescue in Afghanistan: Why was kidnapped doc kept secret?

Splashing on the front page of US newspapers that an American has been taken hostage offers the kidnappers an important public-relations victory, which the Pentagon would rather deny them. More important is that complete silence on the subject ‘will get them even more nervous,’ argues Mr. …

Moroccans Fear That Flickers of Democracy Are Fading

A year ago, it seemed Moroccans were giddy with the sense that they had found a gentle, negotiated answer to the popular uprisings in the streets. The country’s king, Mohammed VI, 49, defused angry protesters by volunteering to share his power. Within months, Morocco had a new …

Yemen says 17 soldiers killed in ambush

Yemeni military planes on Monday struck at al Qaeda insurgents suspected of carrying out an ambush in which 17 army officers and soldiers were killed, tribal sources said. The ambush, which took place on Saturday while an army patrol inspected a pipeline in Wadi Obaida area of oil-producing …

Don’t Go There

I wonder if the writer has actually seen many (or any) of these islands? Most of them are uninhabited for a reason… they’re unihabitable! They’ve no water; they’re well outside the electric grid; many of them are little more than spots of sand accumulating atop coral heads in the Red Sea or …

Opinion: The Watermelon Revolutions

The Islamists must realize that ideology alone is not enough. On the eve of the revolution in Iran, Ayatollah Khomeini argued that the Iranian popular revolution was launched for the sake of Islam, not to ‘limit the price of watermelons’, but after a decade of Islamist rule in Iran, the average …

Bab Rizq Jameel art exhibition kicks off

The objective of the contest, which was organized for the third year in a row, was to enhance the talent of Saudi photographers and introduce them to conceptual photography, a technique adopted by international photographers at large for many years. Around 225 photographers had sent their …

Saudi paper slams SR90m camel deal

A Saudi newspaper launched virulent attack on a recent deal involving the sale of 20 camels forSR90 million, saying the buyer should have given that money to the poor and branding the transaction as a useless waste of funds. The Arabic language daily Alyoum was referring to last week’s deal …

Doosan Wins $1.2 Billion Desalination Contract in Saudi Arabia

Doosan Heavy Industries & Construction Co. (034020), a South Korea power equipment maker, said today that it signed a 1.1 trillion won ($1.2 billion) contract to build a power and desalination plant in Saudi Arabia.The signing with Saline Water Conversion Corp. to build the facility in the …

Private sector involvement vital for deepening Saudi-India trade ties

It’s time the Saudi private sector should take steps to further deepen the existing trade ties between Saudi Arabia and India, said eminent businessman Dr. Ghazi Binzagar, who recently led a 15-member business delegation to India. There are so many areas to expand commercial relations, he …

TASI – 12/11/12 – up .31%


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