RIYADH, May 26 – A senior investment expert said here that the Ministry of Commerce in Saudi Arabia is considering the potential for non-GCC ownership of Saudi shares, keeping in mind the flow of inter- national capital to the Saudi market and increased interest from foreign investors. Saudi policy makers have observed the success of Thailand, Indonesia and Malaysia who have committed, slowly but surely, the foreign ownership of domestic shares. however, in the case of the Kingdom, this may be restricted to limited foreign ownership of Saudi shares in the initial stages.
RIYADH, 26 May 2004 — The six-nation Gulf Cooperation Council took another step toward closer ties among member states by finalizing a plan for unified ID cards for Gulf nationals. The main feature of the cards, which will bear both the GCC’s and the member country’s logo, is “inter-operability” — making its features readable in all Gulf states. The cards will use smart card technology and have common security features and accessing devices.
RIYADH, 21 May 2004 — The Civil Defense has set up a rapid reaction force to confront terror attacks and natural disasters, its director Maj. Gen. Saad Al-Tuwaijri said here yesterday. “We now have a special force whose members are highly-trained and equipped with the most sophisticated equipment to deal with terrorist attacks,” he said in a press statement.
RIYADH/DAMMAM/JEDDAH, 14 May 2004 — India’s parliamentary election results yesterday stunned Indian expatriates across the Kingdom, who nonetheless welcomed the verdict in favor of Congress. More than one expat said the Bharatiya Janata Party-led government’s divisive communal politics cost it dearly, as did anger among the millions of rural poor who felt left behind by the country’s economic boom. “The economic benefits have failed to reach the hundreds of millions living in crushing poverty in rural India, where electricity, jobs and clean water are still luxuries,” one of them said.
RIYADH – Sky gazing was the order of the night yesterday evening as people enjoyed a total lunar eclipse. It was seen across the Kingdom from 9.49 p.m. to 1.30 a.m. The lunar eclipse reached its peak at 11.31 p.m. last night. Special prayers were held across the Kingdom during the eclipse as the Prophet Muhammad (peace be upon him had done at such times.