Bank lending has increased substantially in recent years. According to data from the Saudi Arabian Monetary Agency (SAMA), the Kingdom’s central bank, bank claims on the private sector had reached SR965.3bn ($257.25bn), up 12.5% from SR858.4bn ($228.76bn) at the end of 2011 and nearly double the 2007 figure of SR577.9bn ($154bn...
Flying in the face of ongoing global economic malaise which has seen many Western economies struggling to regain their composure, Saudi Arabia continues to post strong economic growth on the back of its thriving petroleum sector anchored by a steady political and financial base. Although higher-than-expected oil demand played a...
A popular and official local provincial motto reads “success and prosperity only come with effort”, and it is clear that these days, East Java is taking this wisdom seriously. The push to amplify economic growth is seeing major efforts under way to attract more investment and develop the region’s economy.
Indonesia is a vast country with a wide array of tourism offerings. Given the variety of landscapes spread across the archipelago, ecotourism has become an important part of the country’s tourism portfolio. While most visitors flock to the beaches of Bali or Central Java to visit Borobudur, there are a plethora of natural wonders waiting to be...
BPM igas was established in 2002 to take over the authority of managing and supervising the upstream oil and gas industry from the state oil company, Pertamina. On November 13, 2012 the Constitutional Court issued Ruling No. 36/PUU-XI/2012, which declared that select articles of Law No. 22/2001 that were the foundation for the creation of BPM igas...
ETIQUETTE: A handshake is usually the first introduction in a business setting and is used as a greeting and farewell. It is recommended to address men as pak (equivalent to Mr) and women as ibu(equivalent to Mrs).
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