GCC chief slams Khamenei over interference in Bahrain

Source: Saudi Gazette (Read full story)

Abdullatif Al-Zayani, Secretary General of the Gulf Cooperation Council (GCC), has condemned remarks by Iran’s Supreme Leader Ali Khamenei on Bahrain and its people during a recent conference in Iran. Al-Zayani dismissed the statements Khamenei made at the “Muslim Scholars and Islamic Awakening” held in Iran recently as “reprehensible fallacies” and a “blatant interference” in the internal affairs of Bahrain. He said the statements were in breach of the principles of the religion of Islam and good neighborliness, as well as the international law.

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Riyadh made capital of Gulf Monetary Council

Source: Arab News (Read full story)

The Gulf Monetary Council has signed an agreement declaring Riyadh as its headquarters here yesterday.
The agreement was co-signed by Deputy Minister of Foreign Affairs Prince Abdul Aziz bin Abdullah representing the Kingdom and Chairman of the Board of Directors of the council Fahd Al-Mubarak representing the council.
Saudi Arabia, Bahrain, Qatar and Kuwait are the four members in the monetary council, the Saudi Press Agency reported yesterday. The council aims to launch a single currency at least by 2015, according to earlier reports.

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Saudi petchem shares ‘could rebound quickly’

Source: Arab News (Read full story)

Pessimism over Saudi Arabia’s petrochemical industry has pushed shares in the sector down sharply, dampening the biggest Arab stock market. But the gloom may be overdone, creating chances to buy into some of the Kingdom’s biggest firms. The sector’s net income slid 18 percent from a year earlier to SR 8.0 billion ($ 2.1 billion) in the first quarter of this year, Riyadh-based NCB Capital calculated this week after the companies announced earnings. Even worse, global oil prices have dropped sharply since the start of this month.

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Defense Secretary Hagel Arrived in Riyadh

Source: SUSRIS (Read full story)

 U.S. Secretary of Defense Chuck Hagel arrived in Riyadh today for the third stop on his travels across the Middle East to confer on bilateral issues and regional challenges.

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A newly announced multi-nation arms deal organized by the United States will be among the topics of discussion with senior Saudi officials. The $10 billion package includes weapons for Israel, the UAE and Saudi Arabia and is on top of an ongoing arms deal with the Kingdom that includes 84 F-15SA Eagle fighter jets. The Saudi portion of the package is said to include advanced precision air to ground missiles and the Hagel visit will help to conclude negotiations on final details.

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Arms accord with ME allies signal to Iran, claims Hagel

Source: Saudi Gazette (Read full story)

US Defense Secretary Chuck Hagel said Sunday a $10 billion arms deal planned with Arab and Israeli allies sent a “very clear signal” to Iran that military options remain on the table over its nuclear program. “The bottom line is that Iran is a threat, a real threat,” Hagel, who arrived in Israel Sunday on his first visit there as defense secretary, told reporters on his plane. “The Iranians must be prevented from developing that capacity to build a nuclear weapon and deliver it,” he said.

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Secretary of Defense Chuck Hagel to Travel to the Middle East

Source: U.S. Department of Defense (Read full story)

Secretary of Defense Chuck Hagel will travel to Israel, Jordan, Saudi Arabia, Egypt and the United Arab Emirates April 20-27. Hagel will first travel to Israel where he will meet with Minister of Defense Moshe Ya’alon, Prime Minister Benjamin Netanyahu and President Shimon Peres to further the close military to military relationship between the United States and Israel.  Hagel’s trip follows on President Barack Obama’s visit to Israel where he announced that the United States and Israel will negotiate a new 10-year agreement to provide Israel with foreign military financing.  The secretary will also discuss regional challenges including those presented by Iran and Syria.

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Sheikh Mohammed Bin Zayed meets Obama

Source: The Gulf Today (Read full story)

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Sheikh Mohammed exchanged views with the US President on the latest regional and international developments, as well as international initiatives and efforts to promote peace, stability and development in the Middle East. During his visit, Sheikh Mohammed also met with the US Vice President Joseph Biden and discussed with him the strong ties and shared interests between the UAE and the USA.  According to recently released US government data, the UAE is ranked among the US’ fastest growing trading partners. Total bilateral trade between the two countries grew from approximately $4.5 billion in 2002 to $24.8 billion in 2012.  While in Washington on his two-day visit, the Crown Prince will also meet with senior US government officials and members of the Congress.

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GCC urges IAEA to send team to Iran nuclear plant

Source: Gulf Times (Read full story)

The Gulf Co-operation Council yesterday called for international inspectors to be sent to Iran’s Bushehr nuclear plant over concerns of possible radiation leaks after an earthquake hit the area. The body demanded the International Atomic Energy Agency (IAEA) “send a specialised technical team to inspect the Bushehr nuclear plant and investigate potential damage”, GCC chief Abdullatif al-Zayani told an emergency meeting of top Gulf officials. A 6.1 magnitude quake hit Iran on Tuesday at a depth of 12km in the area of Kaki, according to the Iranian Seismological Centre.

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