King Abdullah receives Saudi students in Washington, announces 50 percent increase in bursaries

U.S. president says financial crisis needs more time to be solved

Prince Sultan bin Abdulaziz receives phone call from Yemeni president

U.S President George W. Bush hosted a dinner party at the White House's State Banquet Room in honor of the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz and head of states participating in the Summit on "the Financial Markets and World Economy."

In an address at the Banquet, President Bush said "We are here because we share a concern about the impact of the global financial crisis on the people of our nations. We share a determination to fix the problems that led to this turmoil. We share a conviction that by working together, we can restore the global economy to the path of long-term prosperity. When we sit down at the summit table tomorrow, we bring clear priorities. Tomorrow's discussion will be the first in a series of meetings. It will focus on key five objectives: understanding the causes of the global crisis; reviewing the effectiveness of our responses thus far; identifying principles for reforming our financial and regulatory systems; launching a specific action plan to implement those principles, and reaffirming our conviction that free market principles offer the surest path to lasting prosperity."

"As we pursue these objectives, we can build on what we have achieved together so far. Since the outbreak of the crisis, the world's leading nations have coordinated our actions more closely than ever before. Thanks in large part to these decisive measures, global credit markets are beginning to thaw. Businesses around the world are regaining access to essential short-term financing. And stability is beginning to return to the international financial system. This problem did not develop overnight, and it will not be solved overnight. But with continued cooperation and determination, it will be solved. The surest path to that growth is to continue policies of free and open markets. Free market capitalism has been an engine of prosperity, progress, and social mobility in economies all over the globe. Trade and investment have been -- have linked our economies together -- creating new customers for businesses and workers, and greater choices and lower prices for consumers. All our nations must reject calls for protectionism, collectivism, and defeatism in the face of our current challenge," President Bush concluded.

The Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz received at his residence here, Saudi Cultural Attaché to U.S. Dr. Mohammed Abdullah Al-Eisa and a number of Saudi students pursuing their academic studies in the United States.

During the reception, the King announced 50 percent hike in students' bursaries saying “you are representing your homeland, I ask you to hold fast to peacefulness and serenity. Be patient with anyone who might cause harm. You can gain your lawful right through good words. Be patient for the sake of your religion and your country which you represent indeed."

The King, then, received memorial gifts from the Saudi students on scholarships. He thanked them and expressed his appreciation by saying "You are my gift, May Allah bless you all."

The reception was attended by Prince Saud Al-Faisal, Minister of Foreign Affairs; Dr. Ibrahim Al-Assaf, Minister of Finance and a number of high-level officials.

Vice Custodian of the Two Holy Mosques Prince Sultan bin Abdulaziz Al Saud received a telephone call from President Ali Abdullah Saleh of Yemen.

During the conversation, they discussed the current international and Arab situations and reviewed the bilateral relations between the two countries.

The Arab Thought Foundation Seventh Conference (FIKR 7) kicked off last Saturday.

Egypt's Higher Education Minister Hani Helal opened the conference on behalf of President Hosni Mubarak saying that the Arab world is capable of breeding talent and distinguished cadres which, with proper care and nurture, can help rekindle the torch of 'Arab renaissance'.

The 'culture of development' has become one of the most pressing and most sought-after prerequisites of the cultural and intellectual revival in any community, he said.

Governments cannot work alone to push the wheel of development forward, he said. Concerted efforts by all members of the Arab community is needed, he added.

He expressed greetings to the Arab Thought Foundation for all the work it is doing to serve thought and culture and encourage creativity, innovation and excellence in all aspects of life in the Arab world.

Mecca Governor Prince Khaled al-Faisal bin Abdulaziz who chairs FIKR 7 gave the conference's inaugural speech thanking president Mubarak for sponsoring the event.

He said that through its FIKR 7 'The Culture of Development', the Arab Thought Foundation seeks to enrich and promote the process of development in the Arab world by investing the culture as a core of the development process in the Arab world.

FIKR 7 aims at closely examining development in its intellectual and cultural comprehensive concept, so that the pursued development be reached, thus leading to the Arab society advancement; this shall not be an easy task for us since it entails several challenges encountered to formulate a clear strategy and future plans to achieve the pursued objective', he said.

Some 700 intellectuals from 55 countries attended the Cairo-hosted conference.

They discussed ways to enrich the Arab culture, encourage innovation and creativity, multiculturalism, the Arab identity and the culture of development in Arab societies and will witness the launch of the first 'Arab cultural report'.

Prince Khalid al-Faisal, the Governor of Makkah region and President of the Arab Thought Foundation, has underscored the importance of surpassing the culture of hopelessness and despair, and hoped to see within the next few years the first Arab space ship which is prepared by the Arab youth.

Prince Khalid, who was speaking on the fringes of the seventh conference of the Arab Thought Foundation, said 'we always shed light on the tragedies and disasters, and the Arab press and media give a distorted idea about the Arab society.

Prince Khalid noted that the establishment of the Arab Thought Foundation has provided a clear evidence for rejection of despair, hopelessness and disappointment, and added that the entire Arab community has welcomed the establishment of the Foundation.

Despite the spirit of despair yet the Arab nation is still in a good condition, he said adding that the Arab innovation and innovators are unlimited and they are capable of attaining great achievements if they find the chance to do that.

The Arab youth constitute the future of the Arab nation, he noted.

If there are problems and obstacles as well as endeavors to destroy hopes, there is also a strong determination, he said noting that the Arab world has unlimited capabilities and potentialities, and the Arab thinkers and elite have proved to be the greatest in the world when opportunities were extended to them at universities with scientific research centers in the west.

Such research centers are now available in the Arab countries and efforts are underway to further promote and develop them, he added.

Prince Khalid chaired the seventh annual conference of Arab Thought Foundation "Thought 7'' titled "Culture of Development which was held under the auspices of Egyptian President Mohammed Hosni Mubarak with the participation of 700 Arab and international personalities and a number of Arab and Egyptian ministers.

In his speech, Prince Khalid Al-Faisal said that the Arab Thought Foundation raised in the conference the most important issues and challenges in the Arab world, noting that the conference is facing the most serious challenges represented in the gap of science and culture between Arabs and others who knew the way of progress.

He pointed out that the gap was caused by the sharp contrast between the cultures of development on both sides.

Prince Faisal bin Sultan, the secretary-general of Prince Sultan Bin Abdulaziz Foundation, commended the leading role of the Arab Thought Foundation and its fundamental task in enriching cultural development in the Arab world.

"It is a serious and distinguished attempt to revive the soul of ingenuity in the Arab personality in various fields," said Prince Faisal.

"Sultan Foundation’s sponsoring the Arab Creativity Award for two consecutive sessions is a part of its mission in supporting cultural and scientific programs in the Arab world, and also as an appreciation for the role of the award and its elevated ideals and goals," said the prince.

He praised Prince Khaled Al-Faisal, chairman of the Arab Thought Foundation, stating that the continuity of the foundation’s seventh session reflects the size of its efforts and deep faith in its towering principles.

The Arab Thought Foundation’s seventh international conference - Fikr7 - concluded in Cairo.

The theme of the conference was "The Culture of Development," which focused on inspiring the development process in the Arab World through employing culture as a fundamental axis.

Prince Faisal pointed out that promoting innovation and creativity in the Arab world provides an appropriate environment to encourage philanthropic activities and social responsibility.

The Executive Bureau of the Arab Environment Ministers Council held its 40th session at the Arab League premises in Cairo under Prince Turki bin Nasser bin Abdulaziz.

The meeting discussed a number of topics tabled on the agenda, including those of a proposed Arab environmental organization, the building of an Arab environmental satellite, the establishment of a special mechanism to coordinate among Arab countries during times of natural disasters and emergencies, trade and environment priorities in the Arab region, an Arab action plan to face up to the problem of climate change and a unified Arab program for the management of waste, Mohamed al-Twigri, the Arab League assistant secretary general for economic affairs told reporters.

The ministers discussed also progress in the implementation of the 2008 environmental action plan and the proposed action plan for 2009 and the environmental conditions in the Palestinian territories, Iraq, Sudan and Somalia, he said.

The Executive Bureau members are Egypt, Jordan, the United Arab Emirates, Bahrain, Algeria, Qatar, Saudi Arabia and Syria.

In Paris, Undersecretary of Ministry of Interior Dr. Ahmed bin Mohammad Al-Salem, who is leading the kingdom's delegation at the 10th Session of the International Summit on Transnational Crime, asserted the kingdoms efforts to protect integrity and fight corruption.

In his word during the summit, he said the kingdom is one of the first countries that started to fight this phenomenon and facing it.

"The Saudi cabinet adopted in 2004 the national strategy to protect integrity and fight corruption," he also said, noting that the kingdom has established a national authority top fight corruption.

The Kingdom's delegation to the Summit is headed by Undersecretary of Ministry of Interior Dr. Ahmed bin Mohammad Al-Salem including representatives from Ministries of Interior, Foreign Affairs, Justice and Finance.

The summit focuses on issues relating to trans-border crimes.

In Amman, Forum of Arab Social Development Ministers titled "Social Responsibility of Partners and their Role in Social Development in the Arab Region" meetings wrapped up.

The delegation of Saudi Arabia to the forum was led by Minister of Social Affairs Youssef bin Ahmed Al-Othaimeen.

The United Nations Research Institute for Social Development has sponsored in Jordan the Arab forum on social development, highlighting the importance of firms' role in this regard, local daily The Jordan Times reported.

Participants from 16 Arab countries opened the two-day Arab Forum of Social Affairs and Development Ministers to examine firms' social responsibility and its role in social development, according to the report.

Jordanian Minister of Social Development Hala Latouf was quoted as saying at the Wednesday session that the private sector in the Arab world needs more appropriate legislation to provide facilities and incentives to shoulder its social responsibilities in a manner that supports sustainable development.

"Entrenching the concept of social responsibility is not only restricted to amending legislation and laws but it should be coupled with a societal change in culture and behavioral patterns," said the Jordanian official.

Latouf emphasized the need to reexamine corporate social responsibility in order to adapt the concept to aid Arab communities.

"It is important that local communities identify their needs and development priorities as well," she added.

Latouf said the private sector in the Arab world needs more appropriate legislation to provide facilities and incentives to motivate the sector to shoulder its social responsibilities in a manner that supports sustainable development.

Latouf underlined the necessity to revise educational systems taking into account Islam and Arab and Islamic customs, traditions and culture.

Participants at the event stressed the importance of partnerships between the government and civil society organizations to create a world that is free from poverty.

They also reviewed corporate social responsibility success stories, stressing the need to support the role of the private sector in this regard. The forum was held under the auspices of the UNESCO Management of Social Transformations Program (MOST).

The Forum addressed a number of topics of joint action in the area of social development in Arab countries as it examines a number of experiments in social development in Jordan, in addition to defining responsibility between business and social development as well as the Arab joint work and social development.