Wednesday 10 August 2022 \

 

Saudi Arabia

Saudi Arabia announces record $228 billion budget for 2014

Source : AFP / 25 Dec 2013

Saudi Arabia announced yesterday a record budget of $228 billion for 2014, slightly up from $218.7 billion budgeted for this year, Al-Ekhbariyah state news channel reported.

The world’s largest oil exporter also expected to conclude this year with a budget surplus of 206 billion riyals ($54.9 billion, 40 billion euros), after budgeting for a surplus of around $613 million.

Revenues in 2013 are expected to reach 1.131 trillion riyals compared with an expenditure of 925 billion riyals.

 

Saudi Arabia ready to invest in Azerbaijan’s oil sector

Source : Saudi Gazette / 13 Dec 2013

Saudi Arabia is ready to invest in Azerbaijan’s petrochemical and refining industry, the head of Saudi Arabian General Investment Authority Abdullatif Al Othman said at the Azerbaijan-Saudi business forum held in Baku on Tuesday, Trend News Agency reported.

“Azerbaijan is an economically developed country and there is every opportunity for the expansion of cooperation in many spheres including tourism and within socially oriented projects,” the organization head said.

 

South Arabian languages face threat

By Ibrahim Nafee / Arab news / 6 Dec 2013

It would be difficult to save several endangered south Arabian languages, including one spoken only by a small community in the far southeast of Saudi Arabia, a renowned linguist said Wednesday.

Janet Watson from the University of Leeds made this observation at the first Linguistics in Arabia Conference held at King Abdulaziz University (KAU) in Jeddah. She said a major problem was that these languages have no literature and would therefore not survive for another 50 years.

 

1,500 km cable to supply electricity from Madinah to Cairo

Source : IINA / 3 Dec 2013

Saudi Arabia has formally agreed to provide electricity to Egypt.

An agreement to this effect will be signed at the end of the month, said Saleh Alawaji, chairman of board of directors of Saudi Electricity Company and deputy minister for electricity in Saudi Arabia.

 

Four Gulf countries to announce common currency

Source : Agencies | 03 Dec 2013

Four Gulf Cooperation Council (GCC) countries will announce the introduction of a common currency by the end of December, a Bahraini daily reported on Sunday.

The common currency to be announced by Bahrain, Kuwait, Qatar and Saudi Arabia will be pegged to the dollar, a source told Akhbar Al Khaleej.

 

Saudi Arabia to be world’s 3rd largest exporter of petrochemicals by ’15

Source : SG / 18 Nov 2013

The Kingdom of Saudi Arabia is expected to become the world’s third largest exporter of petrochemical products with its market share poised to reach 10 percent by 2015. Saudi plastics and petrochemical exports grew from less than $500 million in 1985 to $22 billion in 2011.

Moreover, the outlook for domestic plastics and petrochemicals is highly favorable as the country shifts its focus beyond increasing oil production capacity towards expanding its natural gas, refining, and petrochemicals industries.

 

Makkah Clock Tower 2nd tallest building in world

Source : IINA / 15 Nov 2013

Standing tall at 1,972 feet (601.07 meter), the Abraj Al-Bait Tower, also known as Makkah Royal Clock Tower, has been declared the second tallest building in the world by the Council on Tall Buildings and Urban Habitat, considered a world authority on supersized skyscrapers.

 

‘Brain Forum’ to tackle healthcare challenges

By Syeda Amtul / 13 Nov 2013

Saudi Arabia will be hosting the first of its kind symposium in the Middle East region that will bring together some of the world’s top inspirational thinkers and pioneers in the field of Brain Research and Personalized Healthcare.

 

Riyadh: City of billionaires

Source : Arab news / 08 Nov 2013

The total wealth of Saudi billionaires comprises more than half of the combined net worth of billionaires in the Middle East, the inaugural Wealth-X and UBS Billionaire Census shows.
It also states that Saudi Arabia is the country with the largest number of billionaires in the Middle East, with a total of 64 billionaires.

Sixty-six percent of Saudi billionaires have derived their wealth from inheritance-related fortunes (inherited and inherited/self-made).

 

KSA has lowest poverty rate in Arab world

By Ali Fayyaz / 06 Nov 2013

Saudi Arabia ranked 10th globally and first in the Arab world in terms of the lowest poverty rate, according to a recent poverty report released by the World Bank.

“Jobs can provide a transformational path out of poverty for men, women and youth. Beyond an individual’s income, jobs can bring great value to society through their broad influence on living standards, productivity and social cohesion,” said Jim Yong Kim, president of the World Bank Group.

 
 

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