Showing posts with label Saudi Arabia. Show all posts
Showing posts with label Saudi Arabia. Show all posts
Friday, July 15, 2022
Tuesday, May 10, 2022
Ecumenical Patriarch Bartholomew Visits Saudi Arabia - revised
On 10 May 2022,His All-Holiness Ecumenical Patriarch Barthlomew departed Constantinople (Istanbul,Turkey) for Riyadh,Saudi Arabia,the Ecumenical Patriarchate said in a news release.The flight takes between four and four-and-a-half hours non-stop.He had received a kind invitation from the Forum for the Promotion of Common Values among Religious Believers to address the opening of the international conference which they organised called "Meeting for the Promotion of Common Values among Religious Believers."*
The Patriarch is accompanied by His Eminence Elder Metropolitan Emmanuel of Chalcedon;Third-Ranking Patriarchal Deacon Kallinikos;and Archon Hartophylax Mr.Panteleimon Vigas,a close advisor and friend of His All-Holiness.His Eminence Elder Metropolitan Apostolos of Derkoi was appointed Patriarchal Commissioner to serve during Patriarch Bartholomew's absence.
The Ecumenical Patriarch plans to return to the Phanar on Thursday afternoon.*
Wednesday, March 14, 2018
Around a War-torn Region,Part 2:CENTCOM Commander Briefs Congress on the Strategic Road Ahead
US Army General Joseph L. Votel,Commander,US Central Command,continued to brief the House Armed Services Committee on 27 February 2018 on the challenges CENTCOM faces in its massive Area of Responsibility:
We do maintain a constant presence in the Red Sea and the Gulf of Aden,into the Arabian Gulf and Gulf of Oman as well,and through our very close partnership with our partners.We have three combined maritime task forces that are led out of our naval headquarters in Bahrain,that include a variety of different nations.I think that this is a very key way for us to maintain our influence and pursue our interests in the CENTCOM maritime environment.*
In the Bab el Mandeb Strait,60-70 ships a day go through it.Mining is a very real threat that we have to pay attention to,using our intelligence and experience to help our partners Saudi Arabia and the UAE to optimise their capabilities.We absolutely do have intelligence assets on the Bab el Mandeb,and I would be very glad to go into the details with you in a different setting.*
In Afghanistan this season,our intention is to grab the initiative,break the stalemate and begin to expand population control in this year and next (the Taliban currently have 12% of the population under their control,while the Afghan government has 64% of the population,and the rest is contested),and then ensure that we create an environment for credible elections to take place.It's one of the most important things that the Afghan people need to see from their government.
It's very clear that the majority of the ISR (Intelligence,Surveillance and Reconnaissance) in the region is being provided by the United States.We have the largest concentration of MQ-9s (drones) down at Kandahar Airfield to support General Nicholson and his forces,and that's adequate for what he needs right now;but,given his druthers,I'm sure that he would want more,and so we would want more in all these areas.The faster that we can continue to provide those capabilities,the better.*
I am concerned that these areas in the Southwest of Syria are becoming collection zones of
unsavoury elements,and eventually they will have to be dealt with.I am concerned that these will become bigger problems.In places like Idlib,these groups that have come together do potentially pose long-term challenges for the security of the region,above and beyond Syria,General Votel told the Members of Congress on Capitol Hill last month.
We do maintain a constant presence in the Red Sea and the Gulf of Aden,into the Arabian Gulf and Gulf of Oman as well,and through our very close partnership with our partners.We have three combined maritime task forces that are led out of our naval headquarters in Bahrain,that include a variety of different nations.I think that this is a very key way for us to maintain our influence and pursue our interests in the CENTCOM maritime environment.*
In the Bab el Mandeb Strait,60-70 ships a day go through it.Mining is a very real threat that we have to pay attention to,using our intelligence and experience to help our partners Saudi Arabia and the UAE to optimise their capabilities.We absolutely do have intelligence assets on the Bab el Mandeb,and I would be very glad to go into the details with you in a different setting.*
In Afghanistan this season,our intention is to grab the initiative,break the stalemate and begin to expand population control in this year and next (the Taliban currently have 12% of the population under their control,while the Afghan government has 64% of the population,and the rest is contested),and then ensure that we create an environment for credible elections to take place.It's one of the most important things that the Afghan people need to see from their government.
It's very clear that the majority of the ISR (Intelligence,Surveillance and Reconnaissance) in the region is being provided by the United States.We have the largest concentration of MQ-9s (drones) down at Kandahar Airfield to support General Nicholson and his forces,and that's adequate for what he needs right now;but,given his druthers,I'm sure that he would want more,and so we would want more in all these areas.The faster that we can continue to provide those capabilities,the better.*
I am concerned that these areas in the Southwest of Syria are becoming collection zones of
unsavoury elements,and eventually they will have to be dealt with.I am concerned that these will become bigger problems.In places like Idlib,these groups that have come together do potentially pose long-term challenges for the security of the region,above and beyond Syria,General Votel told the Members of Congress on Capitol Hill last month.
Wednesday, February 28, 2018
Around a Wartorn Region:CENTCOM Commander Briefs Congress on the Strategic Roadmap
More than 200 military officers from 49 countries are working at US CENTCOM headquarters at McDill Air Force Base,Florida,CENTCOM commander General Joseph Votel,US Army,told the House Armed Services Committee on 27 February 2018:
We are grateful for,and largely depend upon,their partnership.*
In the course of the hearing,General Votel responded to a number of strategically important topics raised by the Members of Congress,mainly concerned with terrorism in South Asia and North Africa,as well as the malign role of Iran in the region.A classified session followed the open session.*
On Iran,General Votel noted that:
The increasing,not just quantity,but quality of their ballistic missiles,and the increasing export of these capabilities to other groups around the region.These weapons threaten to widen the conflict in Yemen,threatening our forces in Saudi Arabia,as well as our partners.They have sent coastal defence cruise missiles to the Bab el Mandeb Strait-some of them have been modified.We know these are not capabilities that the Houthi rebels in Yemen had.The presence of explosive boats,the increased presence of mines in this area are all very similar to the layered threats that Iran has posed to the Strait of Hormuz,and we hold them accountable for that.
Their continuing and changing power projection model-not only their own forces,but their proxies and partners that they are attempting to support around the region.We are helping Saudi Arabia to optimise their capabilities-many of which are from the US-and we are seeing some progress in that regard.*
On foreign fighters leaving following the massive defeats of ISIL in Iraq and Syria and going home to Turkey (900 fighters) and Saudi Arabia (1760 fighters):
They have experience and tactics that could be applied to other places.They're radicalised;so they have the ability to bring others on board with this.We have always attempted to isolate these areas and prevent the escape of these fighters,so they're either killed or captured where we take them on,and I think that we're successful in that.We do have some ability to interdict foreign fighters as they attempt to evacuate the areas.
Turkey has been absolutely vital to the campaign plan.We're keeping clear,open and professional lines of communication to Turkey as to what we're doing with other partners.*
Success in Afghanistan and in South Asia will require a strong relationship and the cooperation of Pakistan.I do have frequent and routine,very professional communications with my counterpart.We talk almost weekly.We meet frequently face-to-face.I can't characterise the relationship as trustful at this particular point.There is a lot of history there that has to be overcome;but what I would also tell you is,we are beginning to see positive indications.Through these communications,they're reporting to us some of the actions they are taking on the ground.There are positive indications that they are moving in the right direction.It does not yet equal the decisive action that we would like to see them take in turns of a strategic shift,but they are positive indicators,and it gives me hope that our approach is the right one.It gives me hope that we can restore this very important relationship.*
US strikes in Yemen have had a very significant impact on Al-Qaida in the Arabian Peninsula.Certainly it has impacted their ability to conduct external operations.It's gone to the areas where they have had sanctuary;it has continued to present them multiple dilemmas that they have had to deal with;so not only are they contending with our strikes,but they're also contending with partner operations that we work up with our Arab partners on the ground and our Yemeni partners on the ground.And this has become very,very effective.And I will tell you that we are extending that to ISIS in Yemen as well.That is not as well-developed as AQ is,but of course it is ISIS.We understand their ideology;we understand where they're going,and so we're concerned about them as well.*
We are grateful for,and largely depend upon,their partnership.*
In the course of the hearing,General Votel responded to a number of strategically important topics raised by the Members of Congress,mainly concerned with terrorism in South Asia and North Africa,as well as the malign role of Iran in the region.A classified session followed the open session.*
On Iran,General Votel noted that:
The increasing,not just quantity,but quality of their ballistic missiles,and the increasing export of these capabilities to other groups around the region.These weapons threaten to widen the conflict in Yemen,threatening our forces in Saudi Arabia,as well as our partners.They have sent coastal defence cruise missiles to the Bab el Mandeb Strait-some of them have been modified.We know these are not capabilities that the Houthi rebels in Yemen had.The presence of explosive boats,the increased presence of mines in this area are all very similar to the layered threats that Iran has posed to the Strait of Hormuz,and we hold them accountable for that.
Their continuing and changing power projection model-not only their own forces,but their proxies and partners that they are attempting to support around the region.We are helping Saudi Arabia to optimise their capabilities-many of which are from the US-and we are seeing some progress in that regard.*
On foreign fighters leaving following the massive defeats of ISIL in Iraq and Syria and going home to Turkey (900 fighters) and Saudi Arabia (1760 fighters):
They have experience and tactics that could be applied to other places.They're radicalised;so they have the ability to bring others on board with this.We have always attempted to isolate these areas and prevent the escape of these fighters,so they're either killed or captured where we take them on,and I think that we're successful in that.We do have some ability to interdict foreign fighters as they attempt to evacuate the areas.
Turkey has been absolutely vital to the campaign plan.We're keeping clear,open and professional lines of communication to Turkey as to what we're doing with other partners.*
Success in Afghanistan and in South Asia will require a strong relationship and the cooperation of Pakistan.I do have frequent and routine,very professional communications with my counterpart.We talk almost weekly.We meet frequently face-to-face.I can't characterise the relationship as trustful at this particular point.There is a lot of history there that has to be overcome;but what I would also tell you is,we are beginning to see positive indications.Through these communications,they're reporting to us some of the actions they are taking on the ground.There are positive indications that they are moving in the right direction.It does not yet equal the decisive action that we would like to see them take in turns of a strategic shift,but they are positive indicators,and it gives me hope that our approach is the right one.It gives me hope that we can restore this very important relationship.*
US strikes in Yemen have had a very significant impact on Al-Qaida in the Arabian Peninsula.Certainly it has impacted their ability to conduct external operations.It's gone to the areas where they have had sanctuary;it has continued to present them multiple dilemmas that they have had to deal with;so not only are they contending with our strikes,but they're also contending with partner operations that we work up with our Arab partners on the ground and our Yemeni partners on the ground.And this has become very,very effective.And I will tell you that we are extending that to ISIS in Yemen as well.That is not as well-developed as AQ is,but of course it is ISIS.We understand their ideology;we understand where they're going,and so we're concerned about them as well.*
Wednesday, January 4, 2017
Air and Artillery Strikes Hit ISIL Targets in Syria,Iraq
Combined Joint Task Force Operation Inherent Resolve continued to strike the Islamic State in Iraq and the Levant on 3 January in both Syria and Iraq,a news release said.In Syria,among the 21 strikes by attack,bomber,fighter and remotely piloted aircraft on the Islamist extremists were:
Near Shedaddi,three strikes destroyed a vehicle bomb;a vehicle bomb storage facility and a fighting position;and damaged a repeater box and a communications tower.
Near Raqqah,seven strikes destroyed a vehicle bomb;a vehicle bomb storage facility;a weapons cache and 11 fighting positions;and suppressed a tactical unit.*
In Iraq,among the six strikes by attack,bomber,fighter and remotely piloted aircraft and rocket artillery conducted with and in support of Iraq's government on the ISIL militants were:
Near Hawayjah,two strikes destroyed a pickup truck and vehicle bomb storage facility.
Near Mosul,three strikes destroyed two mortars;a tactical vehicle and two command and control nodes;damaged two supply routes and suppressed nine mortar teams and a tactical unit.*
Those who have conducted strikes in Iraq include the US;Australia;Belgium;Canada;Denmark;France;Jordan;the Netherlands;and the UK.
Those who have conducted strikes in Syria include the US;Australia;Bahrain;Canada;France;Jordan;the Netherlands;Saudi Arabia;Turkey;the UAE;and the UK.
Near Shedaddi,three strikes destroyed a vehicle bomb;a vehicle bomb storage facility and a fighting position;and damaged a repeater box and a communications tower.
Near Raqqah,seven strikes destroyed a vehicle bomb;a vehicle bomb storage facility;a weapons cache and 11 fighting positions;and suppressed a tactical unit.*
In Iraq,among the six strikes by attack,bomber,fighter and remotely piloted aircraft and rocket artillery conducted with and in support of Iraq's government on the ISIL militants were:
Near Hawayjah,two strikes destroyed a pickup truck and vehicle bomb storage facility.
Near Mosul,three strikes destroyed two mortars;a tactical vehicle and two command and control nodes;damaged two supply routes and suppressed nine mortar teams and a tactical unit.*
Those who have conducted strikes in Iraq include the US;Australia;Belgium;Canada;Denmark;France;Jordan;the Netherlands;and the UK.
Those who have conducted strikes in Syria include the US;Australia;Bahrain;Canada;France;Jordan;the Netherlands;Saudi Arabia;Turkey;the UAE;and the UK.
Wednesday, May 27, 2015
Counterattacks Seek To Reverse ISIL's Recent Gains
ISIL has executed 20 Syrian men it accused of being Assad regime soldiers in the ancient Roman theatre ruins of Palmyra,Syria.After ISIL had assembled a crowd in the theatre,the men were shot,according to the Syrian Observatory for Human Rights.The Islamist extremist group had seized the city on 21 May,and has executed at least 217 people so far,the SOHR says,67 of them civilians.There are fears they will also demolish the priceless Roman colonnades and sell off any movable antiquities,as they have done at Iraqi historic sites.
Elsewhere in Syria,the SOHR reports that ISIL has lost ground in Hasakah Province of Northeast Syria.In a 10-day offensive,Kurdish forces early this week liberated 14 Assyrian Christian villages ISIL had seized in February.This was enabled by a major series of air strikes carried out as part of Operation Inherent Resolve by the US and its allies.In the raids from 24-25 May,4 ISIL fighting positions were destroyed,as well as a checkpoint,an excavator,a vehicle borne IED and another vehicle.No civilian casualties were reported from the air strikes.Those participating in the OIR air campaign in Syria include the US,Canada,Bahrain,Jordan,Saudi Arabia and the UAE.
Just over the border in Iraq,thousands of Iraqi security forces and allies,including the Hashed al-Shaabi Shiite militias and volunteers,are converging on Ramadi,the capital of Anbar Province that was overrun by ISIL at the same time they seized Palmyra,Syria.The counterattack on Ramadi has already begun,with the ISF retaking the Taesh and Humeyrah districts of the city.They have also entered the Anbar University grounds,but have not yet liberated it from Daesh-the Arab word for ISIL.
Elsewhere in Syria,the SOHR reports that ISIL has lost ground in Hasakah Province of Northeast Syria.In a 10-day offensive,Kurdish forces early this week liberated 14 Assyrian Christian villages ISIL had seized in February.This was enabled by a major series of air strikes carried out as part of Operation Inherent Resolve by the US and its allies.In the raids from 24-25 May,4 ISIL fighting positions were destroyed,as well as a checkpoint,an excavator,a vehicle borne IED and another vehicle.No civilian casualties were reported from the air strikes.Those participating in the OIR air campaign in Syria include the US,Canada,Bahrain,Jordan,Saudi Arabia and the UAE.
Just over the border in Iraq,thousands of Iraqi security forces and allies,including the Hashed al-Shaabi Shiite militias and volunteers,are converging on Ramadi,the capital of Anbar Province that was overrun by ISIL at the same time they seized Palmyra,Syria.The counterattack on Ramadi has already begun,with the ISF retaking the Taesh and Humeyrah districts of the city.They have also entered the Anbar University grounds,but have not yet liberated it from Daesh-the Arab word for ISIL.
Wednesday, February 25, 2015
Greek Debt Worries;Oil Optimism
The Greek finance minister expressed doubts about being to repay its big loans,although it can manage its public sector expenses.We will definitely have problems in making debt payments,said Yanis Varoufakis to Alpha Radio.Greece has an IMF loan of 1.6 billion euros comig due in March;i also has 7.5 billion of ECB bonds coming to maturity in July and August.
This skepticism comes after Greece got a four-month bailout extension from the EU on Tuesday.Any major Greek credit problems could roil world financial markets.*
In the port of Jizan,Saudi Arabia,Saudi oil minister Ali al-Naimi voiced optimism to reporters.The oil markets are calm now,and demand is growing,according to Mr.al-Naimi.
As well,China's manufacturing sector is growing,according to the flash HSBC/Markit Purchasing Managers Index.China is the world's second-largest energy consumer after the US.
The cheery news caused Brent crude to soar 5% to 61.63 per barrel;while Cushing crude went up 1.71 to 50.99.*
iShares China Large-Cap ETF(FXI),iShares U.S. Oil&Gas Exploration&Production ETF(IEO)
This skepticism comes after Greece got a four-month bailout extension from the EU on Tuesday.Any major Greek credit problems could roil world financial markets.*
In the port of Jizan,Saudi Arabia,Saudi oil minister Ali al-Naimi voiced optimism to reporters.The oil markets are calm now,and demand is growing,according to Mr.al-Naimi.
As well,China's manufacturing sector is growing,according to the flash HSBC/Markit Purchasing Managers Index.China is the world's second-largest energy consumer after the US.
The cheery news caused Brent crude to soar 5% to 61.63 per barrel;while Cushing crude went up 1.71 to 50.99.*
iShares China Large-Cap ETF(FXI),iShares U.S. Oil&Gas Exploration&Production ETF(IEO)
Wednesday, July 23, 2014
Risk and the Markets Today
There's a wall of worry out there,said former Ronald Reagan advisor and CNBC contributor John Rutledge-the Middle East,Russia/Ukraine and the South China Sea-but the Fed has added three trillion dollars,which is leaking into the economy through the banks.That's why prices are gonna continue to go up,I think.
For me,the two big bets to make are private equity firms and real estate.I think the small stocks are a bet to make-small caps over large caps;the US over Europe;avoid Japan.
I think the rates are headed up from here,although the fear buying is pushing them down right now.*
The Saudi stock market is planning on taking a risk and opening more to foreigners in the first half of 2015.The Saudis want to increase foreign investment;diversify away from oil;and be represented in the MSCI and other large indexes.Companies such as Kingdom Holding and Alrajhi Bank will be available to foreign investors,but only if they are institutional traders with at least five billion under management and have been in business at least five years,a draft document says.Saudi Arabia has a half trillion dollar market,the last of the large closed markets.*
This MH-17 shootdown has become a huge human drama,said Senator Dianne Feinstein,D-California,Chair of the Senate Intelligence Committee.I think the nexus between Russia and the separatists has been established.I think the world has to rise up and say we've had enough of this.You cannot let this kind of thing happen.
The fact of the matter is,to me,this kind of missile that travels at 2-3 times the speed of sound-there have to be some penalties for this kind of a shootdown.This kind of weapon has been given to separatists that are in many respects thugs.Russia-US relations are now at Cold War levels,Senator Feinstein told CNN's Candy Crowley.
For me,the two big bets to make are private equity firms and real estate.I think the small stocks are a bet to make-small caps over large caps;the US over Europe;avoid Japan.
I think the rates are headed up from here,although the fear buying is pushing them down right now.*
The Saudi stock market is planning on taking a risk and opening more to foreigners in the first half of 2015.The Saudis want to increase foreign investment;diversify away from oil;and be represented in the MSCI and other large indexes.Companies such as Kingdom Holding and Alrajhi Bank will be available to foreign investors,but only if they are institutional traders with at least five billion under management and have been in business at least five years,a draft document says.Saudi Arabia has a half trillion dollar market,the last of the large closed markets.*
This MH-17 shootdown has become a huge human drama,said Senator Dianne Feinstein,D-California,Chair of the Senate Intelligence Committee.I think the nexus between Russia and the separatists has been established.I think the world has to rise up and say we've had enough of this.You cannot let this kind of thing happen.
The fact of the matter is,to me,this kind of missile that travels at 2-3 times the speed of sound-there have to be some penalties for this kind of a shootdown.This kind of weapon has been given to separatists that are in many respects thugs.Russia-US relations are now at Cold War levels,Senator Feinstein told CNN's Candy Crowley.
Thursday, November 21, 2013
Financial Fracas:Prince Alwaleed versus Forbes
Saudi Arabian billionaire businessman Prince Alwaleed bin Talal is still engaged in a tussle with Forbes magazine that resulted in his filing a defamation claim in London's High Court on April 30.Appearing on Bloomberg TV's Charlie Rose show Wednesday,the prince said Forbes magazine characterised the Saudi stock market,the Tadawul,as being a casino,whereas it is actually tightly regulated.They got my company's market cap wrong.I didn't even care about that;but to say Saudi Arabia is a casino,that's crossing the red line,Prince Alwaleed complained.
The conflict began even before Forbes published its celebrated Rich List of the world's wealthiest people in March,which the prince heartily disagrees with.He was ranked number 26,with a Forbes estimate of his net worth of 20 billion dollars.His advisors had been intermittently lobbying the publication to boost his ranking,Forbes asserts.In the event,he feels the magazine undervalued his Kingdom Holding firm by 9.6 billion.The Rich List was flawed and innacurate,displaying a bias against Middle East investors and fiancial institutions,he told The Sunday Telegraph.
In a March 25 Forbes article called "Prince Alwaleed and the curious case of Kingdom Holding stock,"it was asserted that the Saudi stock market was subject to manipulation by the wealthy individuals who dominate it,and that King Abdullah had ordered a stop to it.A former Kingdom Holding executive referred to the market as a gambling site,the article reports.
The High Court claim names Forbes publisher Randall Lane,an editor and two journalists,Kerry Dolan and Francine McKenna,a source familiar with the matter said.It contends the Rich List caused harm to his reputation and the finances of his company,Kingdom Holding.
To win a defamation suit,the prince must prove that his reputation in England and Wales suffered serious harm and that Forbes caused Kingdom Holding serious financial loss.London is known as the center of libel tourism,as it is supposedly easier to prove such a claim there than in the US,for example.*
Kingdom Holding consists of large stakes in Apple,Twitter,Newscorp and Citigroup,as well as hotels such as the Savoy in London,plus the Four Seasons and the Plaza in New York,and the George V in Paris.Prince Alwaleed is the largest individual investor in the United States.He said the US economy is great and spectacular.Long term investors have no choice but to look to the United States.It will take decades for China to come even near to the United States.I'm optimistic in general about the world economy and about the United States particularly.America is down in many areas,but is not out,His Royal Highness Prince Alwaleed insisted on Charlie Rose,citing entrepreneurs such as Google and Twitter.
The conflict began even before Forbes published its celebrated Rich List of the world's wealthiest people in March,which the prince heartily disagrees with.He was ranked number 26,with a Forbes estimate of his net worth of 20 billion dollars.His advisors had been intermittently lobbying the publication to boost his ranking,Forbes asserts.In the event,he feels the magazine undervalued his Kingdom Holding firm by 9.6 billion.The Rich List was flawed and innacurate,displaying a bias against Middle East investors and fiancial institutions,he told The Sunday Telegraph.
In a March 25 Forbes article called "Prince Alwaleed and the curious case of Kingdom Holding stock,"it was asserted that the Saudi stock market was subject to manipulation by the wealthy individuals who dominate it,and that King Abdullah had ordered a stop to it.A former Kingdom Holding executive referred to the market as a gambling site,the article reports.
The High Court claim names Forbes publisher Randall Lane,an editor and two journalists,Kerry Dolan and Francine McKenna,a source familiar with the matter said.It contends the Rich List caused harm to his reputation and the finances of his company,Kingdom Holding.
To win a defamation suit,the prince must prove that his reputation in England and Wales suffered serious harm and that Forbes caused Kingdom Holding serious financial loss.London is known as the center of libel tourism,as it is supposedly easier to prove such a claim there than in the US,for example.*
Kingdom Holding consists of large stakes in Apple,Twitter,Newscorp and Citigroup,as well as hotels such as the Savoy in London,plus the Four Seasons and the Plaza in New York,and the George V in Paris.Prince Alwaleed is the largest individual investor in the United States.He said the US economy is great and spectacular.Long term investors have no choice but to look to the United States.It will take decades for China to come even near to the United States.I'm optimistic in general about the world economy and about the United States particularly.America is down in many areas,but is not out,His Royal Highness Prince Alwaleed insisted on Charlie Rose,citing entrepreneurs such as Google and Twitter.
Wednesday, April 4, 2012
Dow Chemical's Broad Solutions Network
Dow Chemical is a company that has long embraced globalism at every turn in its corporate life.
We're using Thailand as an operations hub these days,said Dow Chemical CEO Andrew Liveris.There are 160 Korean scientists at our R&D facility there.
The reception in China for global businesses is powerful.China is a red carpet;there are a lot of other economies that are red tape,the industry leader candidly observed.Dow is in 150 countries in terms of sales.
Obviously,Saudi Arabia is very important to a company like ours that is resource intensive,Mr.Liveris noted.
The firm employs about 52,000 workers worldwide.From Mexico to the Middle East,they produce more than 5,000 specialty chemical,advanced materials and other products at some 197 facilities in 36 countries.
Andrew N. Liveris,who turns 58 next month,is a native of Darwin,Australia.He graduated from the University of Queensland with a chemical engineering degree.Mr.Liveris was formerly general manager of Dow's Thailand operations.The Midland,Michigan resident also serves on the Board of Directors of IBM.
Dow Chemical(DOW)
We're using Thailand as an operations hub these days,said Dow Chemical CEO Andrew Liveris.There are 160 Korean scientists at our R&D facility there.
The reception in China for global businesses is powerful.China is a red carpet;there are a lot of other economies that are red tape,the industry leader candidly observed.Dow is in 150 countries in terms of sales.
Obviously,Saudi Arabia is very important to a company like ours that is resource intensive,Mr.Liveris noted.
The firm employs about 52,000 workers worldwide.From Mexico to the Middle East,they produce more than 5,000 specialty chemical,advanced materials and other products at some 197 facilities in 36 countries.
Andrew N. Liveris,who turns 58 next month,is a native of Darwin,Australia.He graduated from the University of Queensland with a chemical engineering degree.Mr.Liveris was formerly general manager of Dow's Thailand operations.The Midland,Michigan resident also serves on the Board of Directors of IBM.
Dow Chemical(DOW)
Wednesday, November 23, 2011
Emirates Chooses Boeing Jets
Emirates Air has ordered 50 more 777 airliners from Boeing for a record 18 billion dollars.The deal includes an option for 20 more 777s,which would bring the total cost up to 26 billion.At the same time,Oman has ordered six Boeing 787 Dreamliners.
Jeff Johnson,President of Boeing Middle East,says Emirates Air aims for global aviation domination.We're sold out for years to come.They want the technology.The Middle East sets the standard for wanting this technology.
The Middle East also hungers for military aircraft.There are big air bases in Qatar,Kuwait and Bahrain.These countries want interoperability with the U.S. military.A 60 billion dollar U.S. arms deal with Saudi Arabia is influenced by the fear of Iran,Mr.Johnson noted.
Boeing(BA)
Jeff Johnson,President of Boeing Middle East,says Emirates Air aims for global aviation domination.We're sold out for years to come.They want the technology.The Middle East sets the standard for wanting this technology.
The Middle East also hungers for military aircraft.There are big air bases in Qatar,Kuwait and Bahrain.These countries want interoperability with the U.S. military.A 60 billion dollar U.S. arms deal with Saudi Arabia is influenced by the fear of Iran,Mr.Johnson noted.
Boeing(BA)
Wednesday, July 13, 2011
Dubai Retail Recovers
The retail sector in Dubai is on the mend.There is growing optimism this is a solid trend as tourists and shoppers return in droves.At the iconic Mall of the Emirates,consumer traffic is up 15% on the year.
Gulf region consumers think Dubai is retail central.The consumption of luxury goods is up 3% and projected to double.The regional consumers are supplemented by a gaggle of shopping tourists from both Saudi Arabia and the Indian subcontinent.
The Mall of the Emirates has 520 stores,anchored by the hypermarket Carrefour,the incredible Ski Dubai indoor slopes,CineStar Cinemas and several others.There are eighty eateries,two hotels and 60 luxury designer stores.Child care is also available at the huge emporium.
According to noted researcher Jim Bianco,the high end is doing better than the Wal-Marts of the world.The wealthy are benefiting from the higher stock market.If stocks start to slump,all bets are off for the consumer discretionary business.
For now,though,the woes of the financial crisis are fading in the desert sun.
Gulf region consumers think Dubai is retail central.The consumption of luxury goods is up 3% and projected to double.The regional consumers are supplemented by a gaggle of shopping tourists from both Saudi Arabia and the Indian subcontinent.
The Mall of the Emirates has 520 stores,anchored by the hypermarket Carrefour,the incredible Ski Dubai indoor slopes,CineStar Cinemas and several others.There are eighty eateries,two hotels and 60 luxury designer stores.Child care is also available at the huge emporium.
According to noted researcher Jim Bianco,the high end is doing better than the Wal-Marts of the world.The wealthy are benefiting from the higher stock market.If stocks start to slump,all bets are off for the consumer discretionary business.
For now,though,the woes of the financial crisis are fading in the desert sun.
Wednesday, June 15, 2011
OPEC:Bitterness in Vienna
By the end of June,Saudi Arabia will raise its oil production by up to 300,000 barrels a day,in order to restrain the price per barrel.When OPEC ministers met in Vienna recently,there was resistance to the Saudi example.OPEC,the Organisation of Petroleum Exporting Countries,failed to reach an output consensus.It was basically Saudi Arabia versus Venezuela and Iran.
OPEC will evaluate the situation after three months.The next meeting is scheduled for December 13-14 in Vienna.OPEC stocks are currently three days above the five-year average,according to OPEC Secretary General Abdalla Salem El-Badri.
Saudi Arabia is committed to supply the needs of the market,Saudi oil minister Ali El-Naimi said.This was one of the worst OPEC meetings he's ever had,Mr.El-Naimi remarked bitterly.A veteran of six decades of meetings,he saw that six countries were opposed to an increase in production,while six others supported it.It has been at least a decade since OPEC failed to reach a consensus.
OPEC is to maintain its current output for now.Nonetheless,in actuality,Saudi Arabia and three other Persian Gulf states are able to to boost production to the desired quota by themselves,should they so choose.
In spite of all the contention,Mr.El-Badri declared he was confident the cartel will reach a quota deal at the December meeting.To fail again would call the organisation's utility,and indeed its continued existence,seriously into question.
OPEC will evaluate the situation after three months.The next meeting is scheduled for December 13-14 in Vienna.OPEC stocks are currently three days above the five-year average,according to OPEC Secretary General Abdalla Salem El-Badri.
Saudi Arabia is committed to supply the needs of the market,Saudi oil minister Ali El-Naimi said.This was one of the worst OPEC meetings he's ever had,Mr.El-Naimi remarked bitterly.A veteran of six decades of meetings,he saw that six countries were opposed to an increase in production,while six others supported it.It has been at least a decade since OPEC failed to reach a consensus.
OPEC is to maintain its current output for now.Nonetheless,in actuality,Saudi Arabia and three other Persian Gulf states are able to to boost production to the desired quota by themselves,should they so choose.
In spite of all the contention,Mr.El-Badri declared he was confident the cartel will reach a quota deal at the December meeting.To fail again would call the organisation's utility,and indeed its continued existence,seriously into question.
Tuesday, March 8, 2011
Risk Management:Carlyle Group Mothballs Egypt Plans
Private equity firm The Carlyle Group has deferred plans to invest in Egypt.They have concerns over the recent change in leadership there.In Egypt,you need an official sign-off to make an investment.They feel that what's going on in Egypt isn't going to end anytime soon,and are concerned over getting local partners to exit a project.
Carlyle has an office in Egypt and will continue to work in Saudi Arabia and Turkey.As of 2009,they had 500 million dollars in their Middle East and North Africa fund.The group has a 40% stake in a Turkish hospital company,as well as a stake in a Saudi lighting fixture firm.
The Carlyle Group is a global alternative asset manager with more than 97.7 billion dollars under management.It combines global vision with local insight from its 19 offices that span the continents from North America to Asia.
Those who are interested in private equity may want to consider the PowerShares Global Listed Private Equity Portfolio(PSP).This exchange traded fund buys shares of 40-60 companies whose principal business is to invest in,and lend capital to,privately held companies.
Carlyle has an office in Egypt and will continue to work in Saudi Arabia and Turkey.As of 2009,they had 500 million dollars in their Middle East and North Africa fund.The group has a 40% stake in a Turkish hospital company,as well as a stake in a Saudi lighting fixture firm.
The Carlyle Group is a global alternative asset manager with more than 97.7 billion dollars under management.It combines global vision with local insight from its 19 offices that span the continents from North America to Asia.
Those who are interested in private equity may want to consider the PowerShares Global Listed Private Equity Portfolio(PSP).This exchange traded fund buys shares of 40-60 companies whose principal business is to invest in,and lend capital to,privately held companies.
Tuesday, November 23, 2010
Prince Alwaleed Buys GM Shares
Prince Alwaleed bin Talal of Saudi Arabia has purchased shares of the newly relisted General Motors stock.A 1% stake in GM was acquired by the prince's holding company for about 500 million dollars.Kingdom Holding Company cited GM's global brand and strength in India and China as reasons for the purchase.The prince had been considering the acquisition for some time before last week's initial public offering.
Prince Alwaleed is also a major investor in Citigroup.He said that,under Citigroup CEO Vikram Pandit,things have stabilized and we are beginning to look at growth.Citi has 2 trillion dollars in assets in 120 countries,and Vikram has surprised the market by doing a good,meticulous job.
Saudi Arabia is booming,and Dubai is trying to find its bottom.They aren't there yet,but Dubai has a good infrastructure,Prince Alwaleed observed.
General Motors(GM),Citigroup(C)
Prince Alwaleed is also a major investor in Citigroup.He said that,under Citigroup CEO Vikram Pandit,things have stabilized and we are beginning to look at growth.Citi has 2 trillion dollars in assets in 120 countries,and Vikram has surprised the market by doing a good,meticulous job.
Saudi Arabia is booming,and Dubai is trying to find its bottom.They aren't there yet,but Dubai has a good infrastructure,Prince Alwaleed observed.
General Motors(GM),Citigroup(C)
Tuesday, April 13, 2010
Shanghai Expo Drawing Near
The Shanghai World Expo,a major business event,will soon begin.The expo runs from May 1,2010 till October 31.It's theme is "better city,better life."China carried out a 45 billion dollar makeover to enhance Shanghai's reputation as a trade and transport hub.Hundreds of factories and thousands of families were moved to make way for the expo,including a shipyard with 10,000 workers.
The 162 countries participating spent varying amounts on their pavilions.Saudi Arabia spent 162 million dollars,followed by Japan at 140 million,France,at about 70 million,and the U.S. at 60 million-privately raised.Some 70 million visitors are expected.One Chinese man,Xu Wei,said it was not a trade fair,but an excellent chance to impress the Chinese people.They have to come here.It's a must.
The 162 countries participating spent varying amounts on their pavilions.Saudi Arabia spent 162 million dollars,followed by Japan at 140 million,France,at about 70 million,and the U.S. at 60 million-privately raised.Some 70 million visitors are expected.One Chinese man,Xu Wei,said it was not a trade fair,but an excellent chance to impress the Chinese people.They have to come here.It's a must.
Tuesday, April 6, 2010
Yahoo Embraces Arab World
Yahoo is moving into the Arab world in a big way.The company has purchased Maktoob,the Arabic version of Facebook.Maktoob is based in Jordan.Arab use of the Internet is up 1,000% since the year 2000.Maktoob reaches one out of three Arab users of the Internet.It is available in 22 Arabic countries with a total population of over 300 million people.
The acquisition of Maktoob is part of Yahoo's emerging markets strategy.Maktoob's vision is to be at the center of people's online lives.Less than 1% of Internet content is currently in Arabic.
Saudi Arabia is one of Maktoob's top two countries.Over five million Saudi women alone are active on Maktoob.
The acquisition of Maktoob is part of Yahoo's emerging markets strategy.Maktoob's vision is to be at the center of people's online lives.Less than 1% of Internet content is currently in Arabic.
Saudi Arabia is one of Maktoob's top two countries.Over five million Saudi women alone are active on Maktoob.
Wednesday, June 18, 2008
The Value of Talks
U.S. Treasury Secretary Hank Paulson says there's no doubt oil prices are a problem.He attributes them to supply and demand factors.You're going to get volatility with tight supply.It can only be good news to talk about it with the Saudis.That's a productive idea.We have not had the investment we need in new production and alternate sources.It's always of great value to talk to other policymakers around the world.That builds up a level of trust so we can call each other,Mr.Paulson explained.As for the financial crisis,regulation needs to be updated to catch up with hedge funds.Clearly the Federal Reserve needs greater visibility and authority with investment banks,given the new lending facility for the banks.There's a role for market discipline and moral hazard.When assets are being revalued,you're going to go through times like this,Mr.Paulson observed.
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