News-2012-12-05

Published: December 5, 2012

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

Saudi Real Estate Rises on Labor Requirement Bets: Riyadh Mover

Saudi Real Estate Co. (SRECO) rose to the highest level in eight months on speculation construction companies may be exempt from penalties on businesses where the majority of workers are non-Saudis.The shares advanced 2.8 percent to 29 riyals, the highest since April 7, at the close in the …

From “Anywhere But” to “Nowhere But” Saudi Arabia: A Conversation with Kathy Cuddihy

Well back then there were no stereotypes. It was as if you were talking about Mars. No one knew anything about it. It was a blank slate. Most people we asked didn’t even know where it was on a map. That’s how unknown it was. When I arrived I thought I had stepped into a scene from the …

Saudi Arabia: Oil heads up robust growth

Increased crude production in Saudi Arabia, combined with rising oil prices, has put the Kingdom on track to generate record annual revenues for the sector, with recent figures from Riyadh-based Jadwa Investments indicating that income could reach a yearly high of $288bn for 2012. Brent …

Saudi pilot found dead after F-15 plane crash

The pilot of a Royal Saudi Air Force F-15 jet which crashed in the Gulf during a routine training exercise late on Sunday has been found dead, the defence ministry said on Tuesday….

What Did I Just See?

Yes, in the global scheme of things, this is small. But in the context of Saudi Arabia, it’s pretty big. For the first time ever, Saudi school books will be permitted to include photographs of women. That 50% of the population was deemed un-showable to students is pretty remarkable in itself. …

3M Saudi Arabia expands geographical presence in country

3M Saudi Arabia, a recognized leader in research and development announced the opening of a fully operational office in the city of Jeddah, Saudi Arabia in line with 3M MEA extensive growth plans for the Middle East and Africa region. The new local facility was inaugurated by Osama Hammoudeh, …

Insurance sector advances 1.33%

The Saudi stock market marked its fourth consecutive gain yesterday. The Tadawul All-Share Index (TASI) closed higher at 6,732.46 points. It added further 24.44 points or 0.36 percent and spiked above the previous closing at 6,708.01 levels.However, the index traded within a narrow range of …

Saudi group sell majority stake in New York’s Plaza hotel in $575m deal

The investment firm headed by Saudi billionaire Prince Alwaleed bin Talal says it has sold a majority stake in The Plaza Hotel in New York to a major Indian real estate conglomerate in a $575 million deal. Kingdom Holding Co. says it will retain 25 percent equity ownership in the landmark …

Saudi Arabia Details Plan for Nuclear, Wind, Eqtisadiah Says

Saudi Arabia plans to produce 18 gigawatts of electricity from nuclear plants and 9 gigawatts from wind energy by 2032, Eqtisadiah daily reported, citing an official at the agency developing the country’s renewable energy program.The country also plans to generate 1,000 megawatt from geothermal …

NATO missiles to be sent to Turkey, Syria clashes rage

Rebels said on Wednesday they had surrounded an air base near Damascus, a fresh sign of battle closing in on the Syrian capital a day after NATO drew a line in the sand by agreeing to send air defense missiles to Turkey. The Western military alliance’s decision to send U.S., German and Dutch …

U.S. Disputes Iran’s Claim of Captured Drone

The naval forces of Iran’s Islamic Revolutionary Guards Corps have captured an American drone that Iran said entered its airspace over the Persian Gulf, state television reported Tuesday. The claim was quickly denied by the United States Navy and later by the Obama administration….

Egypt crisis: Morsi supporters and opponents to rally

Rival demonstrations have been called outside the presidential palace in Cairo on Wednesday. Egyptian President Mohammed Morsi’s Muslim Brotherhood movement has called a rally to counter opposition protests. Anti-Morsi activists clashed with police on Tuesday and say they will continue …

Arab Spring nations slip in corruption index

Egypt has fallen in a global league table of perceived official corruption in the past year, and the Arab Spring revolutions have yet to produce serious anti-corruption action across the region, Transparency International (TI) says. In its annual Corruption Perceptions Index, released on …

“Boycott” Elections Distill Kuwait’s Divisions

On December 1 Kuwait held its second parliamentary election in ten months following the court-imposed dissolution of a strongly oppositional parliament last June. Instead of the usual selection among Kuwait’s liberal nationalist, Islamist, tribal populist, and independent candidates, the …

Ex-CIA analyst warns al-Qaeda in Iraq is ‘evolving’

The Iraqi branch of al-Qaeda is in the midst of a ‘revival’ as a regional terrorist movement, a counter-terrorism analyst at a U.S. think tank said. Jordanian authorities in October detained 11 suspected terrorists allegedly trained by al-Qaeda in Iraq, who were said to be working on a plot …

Authority, Strengthened by Silence

The number of Muslims who have lost their lives during the course of last two years of crackdowns in Syria greatly exceeds the number of Arabs killed by Israel in the last thirty years. Thousands of Muslims are killed by an Alawite government backed by the ayatollah-led Islamic Republic of …

Saudi Arabia Says Israeli Settlements Real Disruption To Peace

Minister of Foreign Affairs, Prince Saud Al-Faisal welcomed the UN General Assembly decision granting the Palestinians the status of a non-member observer state at the United Nations. Prince Saud, during his regular press briefing at the premises of the Ministry yesterday said, the decision …

Saudi Arabia grants Jordan $787 million to finance development projects

The prime minister on November 28th said Saudi Arabia already allocated funding for Jordanian projects worth $487 million, adding that he expects the kingdom will grant an additional $300 million in projects by the end of this year. Within the next few days, Saudi Arabia is slated to deposit …

Aviation’s finest

Some airlines have gone bankrupt. Others are licking their wounds from a depressed global economy and a recovery that is taking longer than expected. But not Emirates. The Dubai-based carrier has faced its challenges — be they environmental, energy-related, or stiffer competition — head on. …

Opinion: Is There an Egyptian Nation?

Liberals’ problem with Morsi’s decree is not so much its authoritarian overtones, but that its authoritarianism is (or could be) in the service of an ideology — Islamism — that they view as an existential threat to Egypt. While Morsi has been extremely polarizing in power, the Muslim …

Pakistan’s Hazara Shiites Under Siege

For at least a year now, Sunni extremist gunmen have been methodically attacking members of the Hazara community, a Persian-speaking Shiite minority that emigrated here from Afghanistan more than a century ago. The killers strike with chilling abandon, apparently fearless of the law: shop …

Opinion: Hasbara and the Control of Narrative as an Element of Strategy

Hasbara has its roots in earlier concepts of propaganda, agitprop, and censorship. Like them, it is communication calculated to influence cognition and behavior by manipulating perceptions of a cause or position with one-sided arguments, prejudicial substance, and emotional appeals. Unlike …

Saudi hotel venture offers 1,000 jobs

Abdul Latif Jameel Real Estate Investment Co (ALJREIC), a leading real estate developer in Saudi Arabia, is looking to hire more than 1,000 candidates ahead of the opening of its Anjum Hotel in Makkah in the second quarter of 2013. The company is giving top priority to Saudi nationals, in …

Saudi Arabia’s NCB Capital plans Islamic equity and sukuk funds

NCB Capital, Saudi Arabia’s largest asset manager, is launching a range of Irish-domiciled Islamic mutual funds, as it seeks to broaden its investor base and appeal to emerging market investors, according to senior executives. The Jeddah-based firm, which manages $12.1 billion in assets, has …

Soccer goes supersize in Oman with world’s largest football

The Guinness Book of World Records announced on Dec. 2 that Oman has made the largest football in the world, Times of Oman reported on Monday. The soccer ball is around ten meters in diameter with a weight of 750 kg….

TASI – 12/5/12 – up 19%

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