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Issue 846 - 30 January 2009

Alwaleed Bin Talal: Kingdom loss

Free

Kingdom Holding Company posted a $8.26bn net loss in Q4 08, compared with a gain of $68.2m in Q4 07.

Saudi Arabia
Issue 846 - 30 January 2009

Khalid Bin Sultan: Higher profile

Free

Prince Khalid Bin Sultan has been in the news this month for his meetings with senior Pakistani military officials and French staff officers.

Saudi Arabia
Issue 846 - 30 January 2009

Saud Bin Abdelrahman: Marriage

Free

Thirty-year-old Prince Saud Bin Abdelrahman Bin Saud Bin Abdelaziz married a daughter of Prince Bandar Bin Abdelaziz on 14 November. Bandar has ten daughters.

Saudi Arabia
Subscriber

Russia’s Gazprom has made a deal with Kuwait’s Noor Financial Investment Company to set up a joint venture targeting exploration and production work in Russia and the Middle East. The signing of a bilateral agreement on civil nuclear co-operation with George W Bush’s administration prior to the Republican president’s departure from office has raised some eyebrows in the United States, for fear that it will spark a ‘nuclear arms race’ in the region.

Kuwait | United Arab Emirates (UAE)
Issue 846 - 30 January 2009

Saudis buy into Mauritania

Subscriber

Saudi Arabia’s Groupe Ahmed Saleh Bughchan is also present in Mauritania, holding the licences for Blocks Ta-14, Ta-26, Ta-36, Ta-37, Ta-61, Ta-62, Ta-63. Ahmed Saleh is from Jeddah’s Bughchan family; like many other important business families in the Kingdom (the Bin Laden, Binzagr and Bin Mahfouz), the Bughchan are originally from Yemen’s Hadhramaut region. The family has a range of interests including transport, construction, drinks, perfume and telecommunications, and owns shopping malls, hotels and a hospital.

Saudi Arabia
Subscriber

Outspoken younger generation businessman (and blogger) Sheikh Sultan Bin Saud Al-Qasimi has written an article in Abu Dhabi’s The National newspaper, saying there should be no space for elitism in the Gulf

United Arab Emirates (UAE)
Issue 846 - 30 January 2009

SHEIKH SAUD: Meetings

Free

Crown Prince Al-Qasimi has held talks with Zambia’s Finance Minister.

United Arab Emirates (UAE)
Issue 846 - 30 January 2009

Al-Ghurairs eye Mozambique

Subscriber

In September, Dubai’s ETA Star Holdings was named as part of a consortium awarded the 10,957km2 Block B in Mozambique. Other members are Pakistan-focused Orient Petroleum International (run by Pakistan’s wealthy Hashwani family) and the local Osho Energia Limitada.

United Arab Emirates (UAE)
Issue 846 - 30 January 2009

Saudi economy faces slow growth

Subscriber

Saudi Arabian Monetary Agency governor Hamad Saud Al-Sayari has said the Kingdom’s economy is not in recession and that the central bank will do what is necessary for the domestic economy.

Saudi Arabia
Issue 846 - 30 January 2009

Mushaima seized in Bahrain crackdown

Subscriber

Exasperated by Haq's persistent campaigning, the authorities arrested the extra-parliamentary opposition group's president Hassan Mushaima, human rights commission head Abdeljalil Al-Singace and outspoken Shiite scholar Mohammed Habib Almuqdad on the night of 25-26 January. Al-Singace was released after 24 hours but remains on bail and is subject to a travel ban. Mushaima and Almuqdad remained in solitary confinement, and were denied contact with their families or lawyers, as GSN went to press.

Bahrain
Subscriber

Reports of an upcoming sale of the Russian-built SA-20 systems to Iran will focus Israeli minds on the need to acquire F-22 fighter aircraft technology, whose export is currently banned by US law

Israel | Iran
Issue 846 - 30 January 2009

Princess Haya: Maxima meeting

Free

While Netherlands Crown Prince Willem-Alexander was touring Dubai his wife Princess Maxima met with Sheikh Mohammed Bin Rashid Al-Maktoum’s wife Sheikha Haya.

United Arab Emirates (UAE)
Subscriber

With unsubstantiated rumours of a potential bid for Liverpool FC splashed across the UK newspapers, and a new deal to work with Gazprom, Kuwait’s prominent Al-Kharafi family is receiving more attention than usual.

Kuwait
Subscriber

Eritrea, a county with more than eight decades of exploration history but not much recent success, in late 2008 assigned two offshore blocks to a local/Chinese joint venture called Defba Oil Share Company, set up through a partnership of the Asmara government and Bahrain-registered Energy Alliance Company WLL.

United Arab Emirates (UAE) | Bahrain
Issue 846 - 30 January 2009

India investment fund to launch

Free

A joint investment fund between State Bank of India (SBI) and the government will be launched formally in March.

Oman