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Saudi Arabia Economy

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BUSINESS
December 31, 1990 | From Reuters
Oil revenues of the Persian Gulf Arab states other than Kuwait and Iraq jumped by more than 50% during 1990 due to higher crude prices precipitated by the Gulf crisis, it was reported Sunday. Gulf International Bank economist Henry Azzam said the combined oil income of Saudi Arabia, the United Arab Emirates, Qatar, Oman and Bahrain rose 55% to $70.5 billion from $41.9 billion in 1989.
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WORLD
November 15, 2003 | Richard Verrier, Times Staff Writer
This desert kingdom has been good to Paul Rouhana. The Lebanese sales manager came to Saudi Arabia more than 20 years ago, fleeing his war-torn homeland for the opportunity to work in a country that assured security and a steady, tax-free paycheck to support his wife and two children back home.
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NEWS
August 23, 1990 | KIM MURPHY, TIMES STAFF WRITER
A senior Saudi government official looked out over the geometric smokestacks, plump storage tanks, warehouses, water canals and offices that make up the largest petrochemical city in the world--and the industrial heart of Saudi Arabia. "Jubail," he said wistfully, "would make a nice target to shoot at from the sea."
BUSINESS
July 20, 1995 | Times Staff and Wire Reports
Saudi Arabian Wheat Output Expected to Drop: Economists in the kingdom say the fall in the price of oil and a new atmosphere of austerity could reduce output of the wheat crop by half in the next few years. Some see Saudi Arabia eventually importing wheat again to meet rising demand, although others say the government sets too high a priority on self-sufficiency for that.
BUSINESS
July 20, 1995 | Times Staff and Wire Reports
Saudi Arabian Wheat Output Expected to Drop: Economists in the kingdom say the fall in the price of oil and a new atmosphere of austerity could reduce output of the wheat crop by half in the next few years. Some see Saudi Arabia eventually importing wheat again to meet rising demand, although others say the government sets too high a priority on self-sufficiency for that.
BUSINESS
May 10, 1991 | From Reuters
The surge in oil production that Saudi Arabia embarked on to fill the gap left by Iraq and Kuwait could break the kingdom's decade-long deficit, pay off all war costs and leave Riyadh with surplus cash by 1994, independent economists say. The cash windfall could also translate into political clout, since Saudi Arabia is determined to boost its military power, which would cost tens of billions of dollars.
NEWS
November 14, 1989 | KIM MURPHY, TIMES STAFF WRITER
The parking lot adjoining the Grand Mosque boils into an urban stew by midday. Bulldozers belch clouds of dust from the pedestrian plaza under development next door. Cars of downtown shoppers crawl across the construction debris. And, defying the scorching heat five times a day, a swarm of Muslim faithful stream out of their offices to the mosque to pray.
BUSINESS
June 5, 1991 | JAMES FLANIGAN
Saudi Arabia, the country that called forth the greatest military effort since World War II, is enjoying a business boom. Companies of all shapes and sizes, from the United States and around the world, are here examining opportunities for joint ventures with the Saudi government or private companies. And the opportunities are not just in oil and gas but in agriculture, manufacturing and services.
NEWS
March 24, 1991 | TRACY WILKINSON, TIMES STAFF WRITER
The no-questions-asked days of Saudi Arabia's checkbook diplomacy are fast coming to an end. Dismayed that some of the world's top recipients of Saudi aid sided with Iraq during the Persian Gulf War, kingdom officials have reversed one of this nation's longstanding policies: From now on, Saudi Arabia will be more selective about the millions of dollars it regularly dishes out to other countries and causes.
NEWS
January 3, 1995 | KIM MURPHY, TIMES STAFF WRITER
The businessman was chatting amiably from behind his large desk about any number of things on the mind of a Saudi these days: Traffic jams on the expressways. The transfer of a friend to Paris. Jordan's peace treaty with Israel. But what, he was asked, of the reports that dozens of his colleagues had been arrested by the secret police? Was it true that thousands of Saudis had taken to the streets recently to protest the arrest of a popular Muslim cleric?
NEWS
January 3, 1995 | KIM MURPHY, TIMES STAFF WRITER
The businessman was chatting amiably from behind his large desk about any number of things on the mind of a Saudi these days: Traffic jams on the expressways. The transfer of a friend to Paris. Jordan's peace treaty with Israel. But what, he was asked, of the reports that dozens of his colleagues had been arrested by the secret police? Was it true that thousands of Saudis had taken to the streets recently to protest the arrest of a popular Muslim cleric?
BUSINESS
June 5, 1991 | JAMES FLANIGAN
Saudi Arabia, the country that called forth the greatest military effort since World War II, is enjoying a business boom. Companies of all shapes and sizes, from the United States and around the world, are here examining opportunities for joint ventures with the Saudi government or private companies. And the opportunities are not just in oil and gas but in agriculture, manufacturing and services.
BUSINESS
May 12, 1991 | TOM FURLONG, TIMES STAFF WRITER
Here at the fortress-like compound of Saudi Arabian Oil Co.--arguably the most influential and secretive business organization on Earth--daily life is fast regaining its equilibrium as the Persian Gulf crisis fades from memory. The schools are filling up again, and "the lines in the grocery store are a clear indication that things are returning to normal," said Micki Harman, whose husband is a pilot for Saudi Aramco, as the government-owned company is known.
BUSINESS
May 10, 1991 | From Reuters
The surge in oil production that Saudi Arabia embarked on to fill the gap left by Iraq and Kuwait could break the kingdom's decade-long deficit, pay off all war costs and leave Riyadh with surplus cash by 1994, independent economists say. The cash windfall could also translate into political clout, since Saudi Arabia is determined to boost its military power, which would cost tens of billions of dollars.
NEWS
March 24, 1991 | TRACY WILKINSON, TIMES STAFF WRITER
The no-questions-asked days of Saudi Arabia's checkbook diplomacy are fast coming to an end. Dismayed that some of the world's top recipients of Saudi aid sided with Iraq during the Persian Gulf War, kingdom officials have reversed one of this nation's longstanding policies: From now on, Saudi Arabia will be more selective about the millions of dollars it regularly dishes out to other countries and causes.
BUSINESS
December 31, 1990 | From Reuters
Oil revenues of the Persian Gulf Arab states other than Kuwait and Iraq jumped by more than 50% during 1990 due to higher crude prices precipitated by the Gulf crisis, it was reported Sunday. Gulf International Bank economist Henry Azzam said the combined oil income of Saudi Arabia, the United Arab Emirates, Qatar, Oman and Bahrain rose 55% to $70.5 billion from $41.9 billion in 1989.
BUSINESS
December 25, 1988 | DONALD WOUTAT, Times Staff Writer
The threat of another energy crisis has attracted renewed interest since the collapse of oil prices in 1986. The lower prices have set in motion several trends, especially higher demand but lower production of oil in the United States. That has sharply increased the level of imported oil, which many say is making the nation more vulnerable to the use of foreign oil as a weapon.
BUSINESS
May 12, 1991 | TOM FURLONG, TIMES STAFF WRITER
Here at the fortress-like compound of Saudi Arabian Oil Co.--arguably the most influential and secretive business organization on Earth--daily life is fast regaining its equilibrium as the Persian Gulf crisis fades from memory. The schools are filling up again, and "the lines in the grocery store are a clear indication that things are returning to normal," said Micki Harman, whose husband is a pilot for Saudi Aramco, as the government-owned company is known.
NEWS
August 25, 1990 | MICHAEL ROSS, TIMES STAFF WRITER
Michael Ross of The Times' Washington Bureau is a member of the Pentagon press pool currently in Saudi Arabia. This report was written for the pool, whose members are not allowed to disclose their exact location. At a party the other night for workers from abroad, the mood was almost jovial, until a young Briton spoke up. "Have you heard?" he asked, fidgeting nervously with a plastic cup of Pepsi. "British Aerospace has issued its employees gas masks and nerve-gas antidotes."
NEWS
August 23, 1990 | KIM MURPHY, TIMES STAFF WRITER
A senior Saudi government official looked out over the geometric smokestacks, plump storage tanks, warehouses, water canals and offices that make up the largest petrochemical city in the world--and the industrial heart of Saudi Arabia. "Jubail," he said wistfully, "would make a nice target to shoot at from the sea."
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