based Al-Madina said a meeting of a number of former leaders of the world will be held at King Abdullah Economic City on Monday. "As many as 44 veteran leaders will gather in Rabigh to consider means of enhancing the pillars of global peace and confronting the world economic crisis" said the daily. The paper noted that the recommendations of these leaders at a meeting held in Stockholm about ten months ago, included admission of the Kingdom of Saudi Arabia to the club of the major industrialized countries (the US, Germany, France, Japan, Britain, Canada, Italy and Russia). "This reflects the soundness of the Kingdom's policy and the farsightedness of their leaders," the daily said. "However this recommendation is not the result of the Kingdom's huge cash reserves, but it is the outcome of the wisdom of the Saudi leadership as regards management of the country's natural resources and utilization of its revenues in a rational manner." The paper pointed that the leaders of the world have been appraised of the initiative of Saudi Arabia to organize a conference of the followers of various religions and the Kingdom's role as regards launching peace initiatives. --MORE
