Friday, Aug 18, 2017
SAUDI ARABIA NEWS

Reinvigorating Infrastructure

$33.2 billion for transport infrastructure through 2019


Minister of Transport Guillermo Dietrich and President of Argentine Freight Trains Ezequiel Lemos oversee the arrival of new locomotives for the reactivated Belgrano Freight Line

The new National Transport Plan aims to close Argentina’s infrastructure gap to make the economy regionally and globally competitive. Aug 09, 2017

Transport | Middle East | Saudi Arabia


Eastern Province

Key mega projects to transform the Eastern Province


King Salman (center, left) is received by Prince Saud bin Abdullah bin Thinayan, Chairman of Royal Commission for Jubail and Yanbu; Prince Saud bin Naif, Governor of the Eastern Province; Eng. Khalid Al-Faleh, Minister of Energy (Photo: Bandar Algaloud)

At the center of Saudi’s transformation is the Kingdom’s Eastern Province, governed by Prince Saud bin Naif, who has been a prominent enabler... Jul 20, 2017

Infrastructure | Middle East | Saudi Arabia


Saudi Arabia

Revamp of a Nation


From left to right: King Salman bin Abdulaziz Al Saud; Prince Saud bin Naif, Governor of The Eastern Province; Former Crown Prince Mohammed bin Naif; Crown Prince Mohammed bin Salman (Photo Credit: Bandar Algaloud)

The Kingdom of Saudi Arabia, the world’s largest oil producer, is building a modern and diversified economy in line with its Vision 2030. Jul 04, 2017

Government | Middle East | Saudi Arabia


City Cement Co.

City Cement goes “beyond imagination”


Saleh Al-Shabnan, CEO of the Tadawul-listed City Cement Company

As Saudi Arabia’s new economic masterplan puts the onus on private sector-led growth, City Cement CEO, Saleh Al-Shabnan, talks about the impact of... Dec 07, 2016

Industry & Trade | Middle East | Saudi Arabia


Diversification in Saudi

Saudi Arabia vows to end “oil addiction” through Vision 2030


Chief architect of Saudi’s Vision 2030 Deputy Crown Prince Mohammed Bin Salman pictured during his visit to the Pentagon on June 16, 2016. (US Dept of Defense photo by Senior Master Sgt. Adrian Cadiz, via flickr)

Bold plan for economic diversification aims to increase the private sector’s contribution to GDP from 40% to 65% whilst creating new non-oil growth... Nov 21, 2016

Government | Middle East | Saudi Arabia


Almajdouie Group

A model of diversified business


Abdullah Almajdouie, President of Almajdouie Group

One of the country’s largest and most successful conglomerates, Almajdouie Group is also one of Eastern Province’s biggest success stories Jul 22, 2016

Conglomerate | Middle East | Saudi Arabia


BMK

Tax-free advantages add to international appeal


Mohammed Ahmed Rashed Al Dossary, Chairman of BMK

Funds hold outstanding opportunities for international investors, according to Damman’s corporate finance solutions provider BMK Jul 21, 2016

Finance | Middle East | Saudi Arabia


Takween Advanced Industries

Technological Advancement through Acquisitions and Partnerships


Abdullah Al-Othman, Chairman, Takween Advanced Industries

Under the stewardship of Abdullah Al-Othman, Takween is pioneering the modernization of industry through partnerships such as the recent acquisition of... Jul 15, 2016

Industry & Trade | Middle East | Saudi Arabia


Al Fozan Group

Sustainability and Saudization


Abdullah Al Fozan, Chairman of Al Fozan Group

Sustainable growth and Saudization – the process of providing more high-quality jobs to natives – seen as key to diversification efforts Jul 13, 2016

Sustainability | Middle East | Saudi Arabia


Al Nouh Real Estate

Province drives real estate boom


Amjad Al Nouh, Chairman of Al Nouh Real Estate

Sky-high demand is creating a plethora of opportunities for developers such as Al Nouh Real Estate Jul 08, 2016

Real Estate | Middle East | Saudi Arabia


Tamimi Group

Saudi bourse opens doors to foreigners




Qualifying investors are now able to buy up to 10% of the shares of any listed Saudi company Jul 05, 2016

Finance | Middle East | Saudi Arabia


Eastern Province

Visionary leadership key to Eastern Province’s economic transition


H.R.H Prince Saud Bin Naif Al-Saud, Governor of Eastern Province

H.R.H. Prince Saud Bin Naif Al-Saud prioritizes partnerships, cooperation and job creation to usher in new era for the beating heart of the Saudi economy Jun 27, 2016

Government | Middle East | Saudi Arabia


‘We are upgrading and raising the bar every year’

Raeed Al-Tamimi
Chief Executive Officer Company for Cooperative Insurance (Tawuniya)

Voted the best insurance company 2016 by Arabian Business Magazine, the Company for Cooperative... Feb 10, 2017


Medical city at the forefront of Saudi healthcare revolution

Dr Mahmoud Al Yamany
CEO of King Fahad Medical City

Commissioned in 2004, King Fahad Medical City (KFMC) has evolved into one of the most advanced... Dec 07, 2016


Innovative solutions for scarce resources

Khalid Abunayyan
CEO of Abunayyan Holding

As a 65-year-old diversified family company that has grown in tandem with the Saudi Arabia,... Dec 05, 2016


A partner in the transformation of Saudi Arabia

Hisham Al Bahkali
President & CEO of General Electric, Saudi Arabia & Bahrain

Having been present in Saudi Arabia for more than 80 years, General Electric announced investments... Nov 28, 2016


Saudi Exports pushes economic diversity

Ahmed bin Abdulaziz Alhakbani
Secretary General of the Saudi Export Development Authority (Saudi Exports)

Part of the national drive for economic diversification and raising awareness that there’s... May 17, 2016


Spiritual hospitality enhanced by a uniquely Saudi touch

Dr Badr al Badr
CEO of Dur Hospitality

Dur Hospitality is ahead of its schedule to invest $400 million in 20 new hotels in Saudi... Apr 20, 2016


Mobily intensifies commitment to kingdom

Ahmad Farroukh
CEO of Mobily

High spending, tech savvy Saudis have a voracious appetite for mobile data and are currently... Apr 12, 2016


Investment opportunities abound in transformed kingdom

Prince Saud bin Khalid Al Saud
Head of Investment Affairs and Deputy Governor of the Saudi Arabian General Investment Authority (SAGIA)

Saudi Arabia is shifting from its government-led economic and social model to a more market-based... Apr 05, 2016


Media powerhouse in Saudi Arabia leads the digital conversation in the Kingdom

Waleed J. Kattan
Director General of Okaz Organization for Press and Publication

Okaz is one of the leading local media organizations in Saudi Arabia, and is adding digital... Apr 05, 2016


World’s largest public transit system takes shape

Alwalid Alekrish
Director of Construction Development Projects and Project Director of the Riyadh Metro at the Arriyadh Development Authority (ADA)

A potent symbol of the modernization and economic vitality of Riyadh is rolling out. Part... Mar 19, 2016


New metro set to transform life in the capital

Described by officials as the largest public transport system currently under development... Mar 21, 2016


Added value in the pipeline at APC

Waleed Bin Hamad Al-Bathe
CEO of the Arabian Pipes Company (APC)

Demand is strong for high quality steel pipes in the Middle East: according to Deloitte’s... Mar 02, 2016


GCC number one now eyes new markets

Ibrahim H. Ababtain
Chairman of Al-Babtain Power & Telecommunication Company

Ibrahim H Ababtain, Chairman of Al-Babtain Power & Telecommunication Company, explains... Feb 29, 2016


Single-minded focus feeds double-digit growth

Wout Matthijs
CEO of Sadafco

By understanding and maximizing its strengths and minimizing waste, Sadafco is going from... Feb 16, 2016


Gambian-Saudi relations tighten

Omar Gibril Sallah
Ambassador of the Islamic Republic of the Gambia to the Kingdom of Saudi Arabia

Omar Gibril Sallah, Ambassador of the Islamic Republic of the Gambia to the Kingdom of Saudi... Feb 11, 2016


SGS ready to handle growth and competition

Qaid Khalaf Al-Otaibi
CEO of Saudi Ground Services Company

Saudi Ground Services Company (SGS) is facing a rapidly expanding air transportation sector... Feb 04, 2016


Local knowledge enables hospitality ‘newcomers’ to stand out

Ali Hamad Lakhraim Alzaabi
President and CEO of Millennium & Copthorne Hotels plc (Middle East & Africa)

Ali Hamad Lakhraim Alzaabi, President and CEO of UK-based Millennium & Copthorne Hotels... Jan 22, 2016


WAFA's new strategy and corporate governance proves how insurance companies in Saudi Arabia can be profitable

Abdulrahman A. Al Sahli
CEO of WAFA Insurance

According to Abdulrahman A. Al Sahli, CEO of WAFA Insurance, Saudi Arabia’s insurance... Jan 16, 2016


Venture capitalists add value to foreign investors’ interests in Saudi Arabia

Bader Al Sayari
CEO of Saudi Venture Capital Investment Company

Bader Al Sayari, CEO of Saudi Venture Capital, explains how his company has established... Jan 09, 2016


CSR and work/life balance initiatives help lift diversified conglomerate into the top 10 best workplaces

Anees Ahmed Moumina
CEO of SEDCO Holding Group

Rated as the eighth best place to work in the country, the Saudi Economic and Development... Jan 07, 2016


Global expertise and local culture combine to produce impressive results

Jun Hemmi
CEO of Alinma Tokio Marine Company (ATMC)

The Saudi insurance sector has witnessed a substantial recovery in 2015 and gross written... Dec 30, 2015


AXA targets new opportunities in Saudi Arabia’s burgeoning insurance market

Paul Adamson
Managing Director of AXA Cooperative Insurance

Saudi Arabia’s insurance sector is set to become the largest in the region, according... Dec 29, 2015



LOCATION:

Middle East, bordering the Persian Gulf and the Red Sea, north of Yemen



GEOGRAPHIC COORDINATES:

25 00 N, 45 00 E



AREA:

total: 2,149,690 sq km

land: 2,149,690 sq km

water: 0 sq km

country comparison to the world: 13



CLIMATE:

harsh, dry desert with great temperature extremes



TERRAIN:

mostly sandy desert



ELEVATION:

mean elevation:

elevation extremes:

lowest point: Persian Gulf 0 m

highest point: Jabal Sawda' 3,133 m



NATURAL RESOURCES:

petroleum, natural gas, iron ore, gold, copper



LAND USE:

agricultural land: 80.7%

arable land 1.5%; permanent crops 0.1%; permanent pasture 79.1%

forest: 0.5%

other: 18.8% (2011 est.)



GEOGRAPHY - note:

Saudi Arabia is the largest country in the world without a river; extensive coastlines on the Persian Gulf and Red Sea provide great leverage on shipping (especially crude oil) through the Persian Gulf and Suez Canal



CONVENTIONAL LONG FORM:

Kingdom of Saudi Arabia



CONVENTIONAL SHORT FORM:

Saudi Arabia



LOCAL LONG FORM:

Al Mamlakah al Arabiyah as Suudiyah



LOCAL SHORT FORM:

Al Arabiyah as Suudiyah



GOVERNMENT TYPE:

monarchy



CAPITAL:

name: Riyadh



ADMINISTRATIVE DIVISIONS:

13 provinces (mintaqat, singular - mintaqah); Al Bahah, Al Hudud ash Shamaliyah (Northern Border), Al Jawf, Al Madinah (Medina), Al Qasim, Ar Riyad (Riyadh), Ash Sharqiyah (Eastern), 'Asir, Ha'il, Jazan, Makkah (Mecca), Najran, Tabuk



INDEPENDENCE:

23 September 1932 (unification of the kingdom)



ECONOMY - OVERVIEW:

Saudi Arabia has an oil-based economy with strong government controls over major economic activities. It possesses about 16% of the world's proven petroleum reserves, ranks as the largest exporter of petroleum, and plays a leading role in OPEC. The petroleum sector accounts for roughly 80% of budget revenues, 45% of GDP, and 90% of export earning



GDP (purchasing power parity):

$1.681 trillion (2015 est.)



GDP (official exchange rate):

$665.5 billion (2015 est.)



GDP - real growth rate:

3.4% (2015 est.)



GDP - per capita (PPP):

$54,600 (2015 est.)



EXPORTS:

$222.6 billion (2015 est.)

$342.3 billion (2014 est.)



EXPORTS - commodities:

petroleum and petroleum products 90% (2012 est.)



EXPORTS - partners:

China 13.3%, Japan 13%, US 12.9%, South Korea 10%, India 8.9%, Singapore 4% (2014)



Imports:

$160 billion (2015 est.)

$158.5 billion (2014 est.)



IMPORTS - commodities:

machinery and equipment, foodstuffs, chemicals, motor vehicles, textiles



IMPORTS - partners:

China 13.3%, US 12.1%, India 8.3%, Germany 6.5%, South Korea 5.4%, Japan 4.9% (2014)



RESERVES OF FOREIGN EXCHANGE AND GOLD:

$660.1 billion (31 December 2015 est.)



CRUDE OIL - PRODUCTION:

9.735 million bbl/day (2014 est.)



CRUDE OIL - EXPORTS:

7.658 million bbl/day (2012 est.)



CRUDE OIL - IMPORTS:

0 bbl/day (2012 est.)



CRUDE OIL - PROVED RESERVES:

268.3 billion bbl (1 January 2015 est.)



REFINED PETROLEUM PRODUCTS - PRODUCTION:

1.971 million bbl/day (2012 est.)



REFINED PETROLEUM PRODUCTS - CONSUMPTION:

2.961 million bbl/day (2013 est.)



REFINED PETROLEUM PRODUCTS - EXPORTS:

1.524 million bbl/day (2012 est.)



REFINED PETROLEUM PRODUCTS - IMPORTS:

338,800 bbl/day (2012 est.)



NATURAL GAS - PRODUCTION:

102.4 billion cu m (2014 est.)



NATURAL GAS - CONSUMPTION:

102.4 billion cu m (2014 est.)



NATURAL GAS - EXPORTS:

0 cu m (2014 est.)



NATURAL GAS - IMPORTS:

0 cu m (2014 est.)



NATURAL GAS - PROVED RESERVES:

8.235 trillion cu m (1 January 2014 est.)



COUNTRY REPORTS




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