News-2012-12-24

Published: December 24, 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

Egypt and Saudi to become regional Private Equity hotspots

‘Fundamental factors like demographics, the robustness of its financial institutions, a very healthy economic outlook and steady growth continue to position the Kingdom as a leading PE destination,’ he noted. Phil Gandier, the Mena head of Transaction Advisory Services at E&Y, hosted a …

Middle East IPOs Double After Saudi Boost, Ernst & Young Says

The Middle East and North Africa’s pipeline of initial public offerings may be improving after Saudi companies helped the region more than double sales this year to $2 billion, Ernst & Young International said.Share sales in the region gained from $844 million in 2011 ‘hinting that the …

Obama Nominates Kerry for Secretary of State

‘In a sense, John’s entire life has prepared him for this role,’ Mr. Obama said, making the widely expected announcement at the White House. ‘He’s not going to need a lot of on-the-job training.’ With Mr. Kerry standing at his side, the president praised Mr. Kerry’s combat service in the …

Mentoring the modern Muslim woman

Mentoring programs can help us produce role models who can project the image of the contemporary Muslim woman who commands respect and qualifies for leadership positions and a role in international organizations. Our society today has a lack of positive role models and there is a dire need for …

Saudi women man kiosks in Bab Makkah

Though there’s the wide gap in age, there’s one thing that’s common among the females who are at these kiosks — all are conservatively dressed. They are veiled and wear abayas while displaying products or discussing matters with their male counterparts. The 40-year-old who opened her own kiosk …

Hayat Sindi – The Saudi global icon

Hayat Sindi, one of the world’s leading biotechnologists and a trailblazer in the field of science, is seeking to instill in the Arab youth the passion she feels when she is attempting to make things better for the under-privileged. Having fought the odds to become the first woman from the …

For expats in Riyadh, housing is costly and hard to find

Expatriates moving to Riyadh, the capital of the Middle East’s largest economy, face long waits for places in housing compounds where rents have risen by more than 10 percent a year for the past four years, according to property consultants Jones Lang LaSalle. Most better-paid expatriates …

Saudi Will Stick to OPEC Ceiling But Will Meet all Demand Requests

Top oil producer Saudi Arabia will adhere to the 30 million barrels-a-day production ceiling maintained earlier this month by the Organization of the Petroleum Exporting Countries, but will meet any customer demand for additional crude, the country’s Oil Minister Ali al-Naimi said …

Saudi economic growth nears 6% in Q3 – report

Saudi Arabia’s economy grew by nearly six percent in the third quarter, driven by the Gulf kingdom’s non-oil sectors, Jadwa Investment has said.It said the latest economic growth data released confirms that the ‘healthy performance’ of the Saudi economy continued into Q3.In real terms – …

Al-Rabiah affirms support for GCC economic integration

Commerce and Industry Minister Tawfiq Al-Rabiah yesterday laid the foundation for GCC Standards Organization’s headquarters in Riyadh in the presence of UAE Minister of Environment Rashid Ahmed bin Fahd.Speaking to reporters after the ceremony, Al-Rabiah referred to the directives from …

Saudi Shura to debate new private sector benefits

A study that recommends limiting working hours in the private sector to 40 hours a week and giving employees a two-day weekend will be reviewed by Saudi Arabia’s Shura Council.The proposal by the Council’s administration and human resources commission said that adopting the recommendations …

Saudi Arabia catapults in global trade ranking

The 2012 Bloom Consulting Country Branding Ranking is a thorough study measuring the effectiveness of each country’s brand strategy, separately evaluating the trade and tourism country brand strategies, and comprising of 160 and 161 countries respectively. The ranking relies on hard facts, …

Get It Right from the Start

Writing about the plans of Isuzu to open up a manufacturing/assembly plant for pick-up trucks in Saudi Arabia, Saleh Al-Turaiqi comes up with an even better idea. In his Okaz article, translated in Saudi Gazette, he notes that while ‘Made in Saudi Arabia’ is a fine thing to see on a vehicle, it …

The Hagel Watch: Former U.S. Ambassadors to Israel Weigh In

People who have seen this sort of cycle before know how it typically ends. The nominee becomes ‘damaged’ or ‘toxic’ or ‘too hot to handle’ or merely ‘embattled’ or ‘controversial.’ An administration that has to choose its battles, chooses not to get messed up in one like this. That’s what …

Feeling the Pain in Tehran

Iran’s Ministry of Intelligence did something remarkable last month: It used its website to publish a report (link in Farsi) calling for direct talks with the country’s foe, the United States. In the report, entitled ‘The Zionist Regime’s Reasons and Obstacles for Attacking Iran,’ the …

Photos: Instagramming Iran

I discovered the Instagram loophole in August 2012, when, as international sanctions began to bite and talk of war against Tehran mounted, I decided to make one last trip to the Islamic Republic of Iran — the country where I spent my adolescence — before all its splendor was potentially lost …

Moving On Up

Turkey’s evolution since World War II suggests that the transition to upper-income status will require difficult political and socioeconomic adaptations. Indeed, to understand Turkey’s strengths and vulnerabilities, one must understand how the country has imperfectly bridged gaps between …

Saudi Arabian Blogger Could Face Death Penalty

A Saudi Arabian blogger is set to go on trial charged with renouncing Islam and could face the death penalty. Raif Badawi, who started the Free Saudi Liberals website to discuss the role of religion in the country, was arrested in June. He was initially charged with the less serious …

Saudi retailer plans Bahrain, Oman expansion

Saudi-based consumer electronics retailer eXtra said on Sunday it was planning to raise its capital in a bid to fund expansion plans across the GCC.The company, also known as United Electronics Company, said in a statement that it plans to increase its share capital by 25 percent through bonus …

Fire in Jubail Plant Kills Two

Two people were killed and dozens injured in a blaze Saturday at a petrochemical plant in the industrial city of Jubail, eastern Saudi Arabia, the local daily al-Yaum reported (http://www.alyaum.com/News/art/66222.html) . The newspaper said the fire is at the Saudi Kayan …

Al-Azhar mosque at heart of concerns over Islamist turn in Egypt

The revolution that began here two years ago with calls for justice and freedom has become a rout by Islamist forces that have racked up victory upon victory at the polls. But within Egypt and across the region, the real source of fears that the country is careening toward theocracy lies in …

NCB Capital: Saudi banks profitable despite provisioning

n its latest report on the Saudi banking sector, NCB Capital, the GCC’s leading wealth manager and the Kingdom’s largest asset manager, noted that despite high provisioning, banks have maintained relatively high profitability for 2012E. ‘We revise our profit CAGR for 2011-16E down from 14.5% …

TASI – 12/24/12 – down .13%

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