SAUDI ARABIA US Report On The
Middle East. U.S. imports from Saudi Arabia go up to $16 billion in the first half of 2006 from 12 billion in the same period of 2005 -- U.S. Census Bureau
Thursday, 10 August 2006
U.S. imports from Saudi Arabia went up to $15,793.9 million in the first half of 2006 from 12,067.2 million in the same period of 2005, according to U.S. Census Bureau.
U.S. exports into Saudi Arabia also went up to $3,588.1 million from $3,084.6 million.U.S. imports from Saudi Arabia went up to $27 billion in 2005 from 21 billion in 2004 -- U.S. Census Bureau
Thursday, 11 August 2005
U.S. imports from Saudi Arabia went up to $27,227.7 million in 2005 from 20,958.7 million in 2004, according to U.S. Census Bureau.
U.S. exports into Saudi Arabia also went up to $6,829.7 million from $5,256,7 million.McDonnell win a $5 million contract to provide for support of Royal Saudi Air Force F-15C
Monday, 13 February 2006
McDonnell Douglas Corp., St Louis, Minnesota, was awarded on 16 December 2005, a $5,272,550 task order on a fixed-price and cost plus fixed-fee line items under indefinite delivery/indefinite quantity contract to provide for support of Royal Saudi Air Force F-15C Mission Training System Contractor Operator Maintenance Instructor Support for calendar year 2006.
This work will be complete by December 2006. The Headquarters Ogden Air Logistics Center, Hill Air Force Base, Utah, is the contracting activity.Saudi Arabia becomes the 149th Member of the World Trade Organization (WTO)
Sunday, 11 December 2005
Saudi Arabia becomes today the 149th Member of the World Trade Organization (WTO).
It is the world's 13th largest merchandise exporter and the 23rd largest importer, said the WTO. Saudi Arabia's membership, “paves the way for a stronger multilateral trading system,” said Director-General Pascal Lamy, at the conclusion of its negotiations last month.Moody's upgrades Saudi Arabia's key ratings to A3 on the basis of robust credit indicators
Monday, 14 November 2005
Moody's rating agency has upgraded Saudi Arabia's key ratings to A3 on the basis of robust credit indicators.
On 4 August 2003 Moody's reported that Saudi Arabia's Baa2 ratings and stable outlook reflect size of oil reserves and diminished risk in wake of Iraq war.
And on 10 August 2000 the investors service placed Saudi Arabia's Baa3 foreign currency rating on positive outlook.
In addition, on 29 January 1996 Moody's assigned Baa3 sovereign ceilings for bonds and bank deposits to Saudi Arabia; and Prime-3 ceiling for short-term obligations.Minister al Naimi: Most of our oil spare capacity has disappeared
Tuesday, 27 September 2005
"These are turbulent times for oil markets," said Saudi Minister of Petroleum and Mineral Resources Ali al-Naimi. "Prices are under pressure because the petroleum industry’s infrastructure is stretched thin. There is tightness across the supply chain and our ability to meet unforeseen challenges today has eroded as most of the spare capacity of the 1980s and 1990s has disappeared."
In his remarks at the 18th meeting of the World Petroleum Congress in Johannesburg, South Africa," Minister Naimi added, "Ours is a system under pressure from rising demand, insufficient investment in capacity, a mismatch between crude quality and the existing refining base, and the balkanizing effects of legislated petroleum product specifications."Raytheon wins a $17 million contract modification for 150 AIM-9M/9X tactical missiles for Saudi Arabia
Tuesday, 6 September 2005
Raytheon Systems dba Raytheon Systems Co., Tucson, Arizona, is being awarded a $17,140,440 ceiling-priced modification to a previously awarded firm-fixed price contract for 150 AIM-9M/9X tactical missiles, 30 spare guidance control sections, and eight guidance control system containers for the Government of Saudi Arabia.
Work will be performed in Tucson, Arizona (93 percent) and Andover, Massachusetts, (7 percent), and is expected to be completed in December 2006. The Naval Air Systems Command, Patuxent River, Maryland, is the contracting activity.U.S. imports from Saudi Arabia go up to $12 billion in the first half of this year from 8 billion in the same period of 2004 -- U.S. Census Bureau
Thursday, 11 August 2005
U.S. imports from Saudi Arabia went up to $12,092.7 million in the first half of this year from 8,496.8 million in the same period of 2004, according to U.S. Census Bureau.
U.S. exports into Saudi Arabia also went up to $3,109.6 million from $2,455.0 million.I congratulate my friend, King Abdullah on assuming the Saudi throne -- President Bush
Monday, 1 August 2005
On behalf of the United States, I congratulate my friend, King Abdullah ben Abd al-Aziz al Saud, on assuming the Saudi throne," said President George W. Bush. "We wish Saudi Arabia peace and prosperity under his leadership. I have spoken today to the new King, and the United States looks forward to continuing the close partnership between our two countries."
In another statement, President Bush added, "I was deeply saddened to learn today of the death of King Fahd ben Abd al-Aziz al Saud (who) was a friend and strong ally of the United States for decades."Booze wins a $16 million contract for training, education, engineering, technical and management support services for the Royal Saudi Naval Forces
Friday, 29 July 2005
Booze Allen Hamilton Inc., McLean, Virginia, is being awarded a $16,434,832 cost-plus-fixed-fee contract for training, education, engineering, technical and management support services for the Royal Saudi Naval Forces. This contract includes a base year and four one-year options which, if exercised, would bring the total estimated value of the contract to $99,998,617.
Work will be performed in Saudi Arabia (65 percent); McLean, Va. (34 percent); and other locations (1 percent), and work is expected to be completed by July 2006. The Fleet and Industrial Supply Center Norfolk, Philadelphia Division is the contracting activity.Ambassador Prince Turki: I appreciate the importance of maintaining, developing good relations with the US
Wednesday, 20 July 2005
President George W. Bush has thanked Prince Bandar ben Sultan ben Abdul Aziz al Saud for his distinguished service as the Kingdom of Saudi Arabia's Ambassador to the United States. In a statement, President Bush said, Ambassador Bandar has been a tireless advocate for close ties, warm relations, and mutual understanding between the United States and Saudi Arabia for over twenty years.
In troubled times, U.S. Presidents past and present have relied upon Ambassador Bandar's advice, added the President. In good times, they have enjoyed his wit, charm, and humor. Throughout his tenure Ambassador Bandar has remained a close, steadfast friend to the United States. The President bids Ambassador Bandar and his family a fond farewell and wishes them all the best on their return to the Kingdom.
Prince Bandar recently appealed to King Fahd ben Abdulaziz to relieve him of his duties for personal reasons, said Embassy of Saudi Arabia web site. King Fahd has graciously acquiesced. At the same time, King Fahd has reaffirmed his trust in current Ambassador to the United Kingdom and Ireland Prince Turki al-Faisal, 60, by issuing a Royal Order to start the process for his nomination to the post of Ambassador to the United States.
I thank King Fahd, and Crown Prince Abdullah ben Abdul Aziz al Saud for nominating me for the post of Ambassador to the US, said Prince Turki. I ... appreciate the importance of this new post in the US and the importance of maintaining and developing good relations with the US.
Prince Turki graduated in 1963 from Lawrenceville School in New Jersey. Subsequently, he pursued his undergraduate studies at Georgetown (Class of ’68). He was appointed an Advisor in the Royal Court in 1973. During 1977-2001, he served as the Director General of the General Intelligence Directorate (GID), the Kingdom’s main Foreign intelligence service.IFC invests $50 million to support Saudi British Bank's Islamic home financing portfolio
Wednesday, 22 June 2005
The International Finance Corporation (IFC) has signed today its first-ever Murabaha facility with Saudi British Bank. IFC's investment of $50 million will support the growth of the bank's Islamic home financing portfolio.
With this facility linked to housing finance, IFC aims to catalyze Saudi Arabia's primary mortgage market. The project will also explore opportunities to support technical and advisory services for local authorities to help create a fully developed housing finance sector.Gulfstream wins a contract with Saudi Arabia’s National Air Services for three G350 business jets
Tuesday, 17 May 2005
National Air Services (NAS), The only licensed private aircraft operator in Saudi Arabia, has announced today that it has a signed a letter of intent with Gulfstream Aerospace, a wholly owned subsidiary of General Dynamics, to order three large-cabin, mid-range Gulfstream G350 business-jet aircraft. This preliminary agreement comes less than two years after NAS ordered three large-cabin, mid-range Gulfstream G300 business-jet aircraft, all of which have since entered service.
NAS is in the final stages of launching a scheduled VIP shuttle service between the Saudi Arabian cities of Riyadh and Jeddah, which will include opportunities for on-demand charter throughout the Middle East and surrounding areas.
The airliner has its operational headquarters in Jeddah, Saudia Arabia; and satellite offices in Cairo, Egypt; Riyadh and Bahrain. The company currently operates a total of 27 aircraft, including three Gulfstream GIV/GIV-SP and three Gulfstream G300 models.
The LOI states that all three G350 aircraft will be scheduled for delivery in 2007, with one aircraft scheduled for delivery each of the first three quarters.Lucent wins a contract with Saudi Telecom for an advanced software solution
Monday, 16 May 2005
Lucent Technologies has announced today a contract with Saudi Telecom Co. (STC), the leading provider of telecommunications services in Saudi Arabia, for an advanced software solution that will enable STC to significantly reduce network management complexity and operations costs.
Lucent will be supplying its market-leading VitalSuite® Network Fault Management software to provide real-time inter-domain fault management in the operator's network. STC has previously successfully deployed Lucent's Network Fault Management software (formally Navis® NFM) to help manage the elements and systems deployed in STC'S multi-vendor, multi-technology switching, access and transmission networks.
The new project has two phases. Phase one is already deployed, and includes interfaces with a number of element domain managers from different vendors and technologies, for alarm integration. Phase two includes root cause analysis and fault correlation across multiple domains. Phase two is currently being deployed, waiting for STC's overlay Inventory Management Solution to be completed. After the completion of this project, STC will be able to correlate problems from the divergent domains, further reducing costs and complexity to maintain its growing network.S&K wins a $31 million contract modification to provide for Multinational Repair, Return in Saudi Arabia
Tuesday, 29 March 2005
S&K Technologies, Ignatius, Montana, is being awarded a $31,105,242 cost and firm fixed price contract modification to provide for Multinational Repair and Return contract for management and repair of repairable assemblies and associated intermediate and depot support equipment. The majority of the work under this contract is for Saudi Arabia. The contract allows use by any foreign country and also by the USAF.
The locations of performances are S and K Technologies, Warner Robins, Georgia (51 percent), and TAMSCO, Warner Robins, Georgia (49 percent). This work will be complete by March 2006. The Headquarters Warner Robins Air Logistics Center, Robins Air Force Base, Georgia, is the contracting activity.Science wins a $6 million contract to provide support services for Saudi Naval Forces
Monday, 25 October 2004
Science Applications International Corp., McLean, Virginia, is being awarded an estimated $5,603,472 indefinite-delivery/indefinite-quantity, cost-plus-fixed-fee, performance-based contract to provide scientific engineering, analytical and technical system support services in Saudi Arabia for the Royal Saudi Naval Forces Command, Control and Communications (C3) in the continental United States as required by SPAWARSYSCEN Charleston.
This contract includes seven one-year options, which if exercised, would bring the cumulative value of the contract to an estimated $50,985,252. The work will be performed in the continental United States (CONUS) and is expected to be completed by October 2005 (October 2012 if all options are exercised). The Space and Naval Warfare Systems Center, Charleston, South Carolina, is the contracting activity for this action.U.S. imports from Saudi Arabia go down to $8.5 billion in the first half of 2004
Friday, 13 August 2004
U.S. exports to Saudi Arabia went up to $2,466.8 million in the first half of 2004 from $2,294.5 during the same period in 2003, according to U.S. Census Bureau today.
However, U.S. imports from Saudi Arabia went down to $8,493.4 million from $9737.3 million in the first half of 2003.S&K wins a $27 million contract modification for repair of Saudi Air Force assemblies, depot support equipment
Tuesday, 15 June 2004
S & K Technologies, Ignatius, Montana, is being awarded a $27,020,000 cost and firm fixed price contract modification to provide for multinational repair and return contract for management and repair of repairable assemblies, associated intermediate and depot support equipment. The majority of this contract is for Saudi Arabia. This effort supports foreign military sales to Saudi Arabia. The contract allows use by foreign country and also by the USAF.
The locations of performance are: S & K Technologies, Warner Robins, Georgia (51 percent) and TAMSCO, Warner Robins, Georgia (49 percent). This work will be complete by March 2005. The Headquarters Warner Robins Air Logistics Center, Robins Air Force Base, Georgia, is the contracting activity.Unemployment is at 9.6% of Saudi labor force, 300,000 are unemployed -- Minister al-Gosaibi
Wednesday, 5 May 2004
"The latest figures issued by the [General Statistics] Authority state that the unemployment figure is around 9.6 percent of the total Saudi labor force (15 years and over)," said Saudi Minister of Labor Ghazi ben Abdul-Rahman al-Gosaibi.
In his remarks to Saudi Press Agency today, Minister al-Ghosaibi added, "This means there are 300,000 unemployed people in the Kingdom."Oil price per barrel should range between $22 and $28 as set by OPEC -- Prince Bandar
Saturday, 3 April 2004
PresidentGeorge W. Bush has received yesterday Saudi Ambassador to the U.S. Prince Bandar ben Sultan ben Abdul Aziz, Dean of the Diplomatic Corps.
“We believe that the oil price per barrel should range between $22 and $28, as set by OPEC," proclaimed Prince Bandar in a statement after the meeting, "and we are keen to maintain the price at $25.”
According to Saudi Arabian Information Resource, Prince Bandar said that both President Bush and Crown Prince Abdullah ben Abdul Aziz of Saudi Arabia believe that high oil prices will adversely impact on the international economy.U.S. imports from Saudi Arabia go up to $18 billion in 2003 from $13 billion in 2002; U.S. exports go down to $4.6 billion
Friday, 13 February, 2003
U.S. imports from Saudi Arabia went up to $18,069.1 million in 2003 from $13,149.9 million in 2002, according to U.S Census Bureau statistics released today.
But, U.S. exports into Saudi Arabia went down to $4,595.9 million last year from $4,780.8 million in 2002.Capco wins a $7 million contract for dual impulse cartridge used for ejecting chaff to Saudi Arabia
Tuesday, 13 January 2003
Capco, Grand Junction, Colorado, is being awarded a $7,252,062 firm fixed price contract. Both United States government and foreign military sales requirements, BBU-48/B dual impulse cartridge used for ejecting chaff (RRU-180). This effort supports foreign military sales to Saudi Arabia.
This work will be complete by January 2006. The Headquarters Ogden Air Logistics Center, Hill Air Force Base, Utah, is the contracting activityLockheed wins a $9 contract modification to provide for Saudi F-15S weapon system trainers (WSTs) with the suite 4 + update
Wednesday, 17 December 2003
Lockheed Martin Corp., Akron, Ohio, is being awarded a $9,100,000 firm fixed price contract modification to provide for F-15S weapon system trainers (WSTs) contract-fund modification of the Royal Saudi Air Force-15S WSTS with the suite 4 + update.
This work will be complete by February 2006. The Headquarters Ogden Air Logistics Center, Hill Air Force Base, Utah, is the contracting activity.Gulfstream wins a $75 million contract to provide three G300 aircraft to Saudi National Air Services
Monday, 8 November 2003
Gulfstream Aerospace, a wholly owned subsidiary of General Dynamics (NYSE: GD) and Saudi Arabia's National Air Services (NAS), the largest and fastest growing independent provider of private aviation services in the Middle East, have announced today a firm order for three large-cabin, mid-range Gulfstream G300 aircraft. Gulfstream will deliver all three of these G300 business jets to NAS by the end of 2004.
This aircraft purchase, amounting to over $75 million, will be financed by Arab Banking Corporation (B.S.C.) (ABC) headquartered in Manama, Bahrain, and will be guaranteed by the Export-Import Bank of the United States (Ex-Im), an independent federal government agency that helps finance the sale of U.S. exports.
Powered by twin Rolls-Royce engines, the G300 can fly up to 3,600 nautical miles, or nonstop from Riyadh to London. It can reach speeds up to Mach 0.88 and an altitude of 45,000 feet, well above commercial traffic. While the G300 can accommodate up to 19 passengers, it is typically outfitted for 11 to 14 passengers. The NAS aircraft are configured for 14 passengers and incorporate options uniquely suited to the Middle East region.Saudi Arabian growth drops to 1% in 2002; unemployment stands at 9% -- IMF
Friday, 5 December 2003
In 2002, overall real growth slowed to 1.0% from 1.3% in 2001, concluded an International Monetary Fund (IMF) consultation with Saudi Arabia. Oil output dropped following OPEC-mandated production cuts, and real non-oil GDP growth picked up modestly to 3.6 percent as private investment continued to be weak. Inflation, however, remained negative and involuntary unemployment stood at about 9 percent.
The fiscal position weakened despite some strengthening of fiscal effort. The overall central Government budget deficit increased to 6 percent of GDP, and Government domestic debt rose to 97 percent of GDP by end-2002. Further, although the external current account registered a comfortable surplus equivalent to 6 percent of GDP, reflecting larger export receipts and little import growth, Saudi Arabian Monetary Agency's (SAMA) net foreign assets fell to the equivalent of nine months of prospective imports of goods and services due to larger private capital outflows.
The average riyal-U.S. dollar interest rate differential widened in 2002 due to the faster drop in the rates on dollar-denominated assets. In addition, the Saudi riyal depreciated in real effective terms by about 4 percent.
Progress on structural reforms during 2002 was focused mainly on the establishment of the legal and institutional framework, for promoting private sector investment including foreign direct investment. Thirty percent of the shares of the Saudi Telecommunication Company (STC) were sold to private investors last December, the privatization strategy listing 20 activities targeted for privatization was approved in June 2002. In an important step to streamline implementation of reforms, several ministries were merged and restructured in May 2003. Steps continue to be taken to improve the employability of Saudi workers through vocational training and the establishment of specialized educational facilities, while the Saudiization policy was clarified to ensure maintenance of competitiveness.
Following the introduction of the Gulf Cooperation Council common external tariff, rates were reduced from 12 percent to 5 percent for 92 percent of imported items; progress continues to be made toward a currency union by 2010, including by formally pegging the currencies of GCC countries to the U.S. dollar at the start of 2003.
Oil prices have firmed in 2003 and Saudi oil output in the first-half of 2003 has been higher than in recent years.U.S. imports from Saudi Arabia go up to $9.7 billion in the first half of 2003 from $5.6 billion during the same period in 2002
Thursday, 14 August 2003
U.S. imports from Saudi Arabia went up to $9,737.70 million in the first half of 2003 from $5,614.3 million during the corresponding period in 2002, according to U.S. Census Bureau statistics released today.
U.S. exports into Saudi Arabia also went up to $2,287.80 million from $2,224.00 million.
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