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Saudi Arabia: World
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Saudi Arabia's characteristics are unmatched in the world. It contains the Moslem holy places, including the Holy Haram and the Holy Ka'abah. The nearby city of Al Madinah Al Munawwarah contains the Mosque and the tomb of the Messenger of Allah, peace be upon him. Moslems converge on Makkah Al Mukarramah and Al Madinah Al Munawwarah from all over the world . Moreover, Saudi Arabia is an economic heavyweight. It has two-thirds of the world reserves of oil and natural gas (315 billion barrels of oil and 235 trillion cubic meters of natural gas).
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With the World Cup on the verge of starting, Saudi Arabia finished their last practice game against Eintracht of Germany with an 8-0 win. Nawaf Al Temyat and Muhammad Ameen scored twice and with one goal from Yasser Al Qahtani, Muhammad Al-Shalhoub and Malek Muass.
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ATLANTA, June 18 /PRNewswire/ -- Saudi Arabian Airlines, the national airline of Saudi Arabia, has entered into a multi-year technology services agreement with global travel technology provider Worldspan, L.P. Through the agreement, Worldspan is assisting Saudi Arabian Airlines in transforming its ticketing process and positioning the carrier for growth in the challenging airline environment. Worldspan's technology solution for Saudi Arabian Airlines includes a global e-ticketing platform and advanced distribution capabilities.
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After Saudi Arabia announced its intention to join the World Trade Organization (WTO), negotiations focused on increasing market access to foreign goods and services and the timeframe for becoming fully compliant with WTO obligations. In April 2000, the government established the Saudi Arabian General Investment Authority to encourage foreign direct investment in the country. Saudi Arabia signed a Trade Investment Framework Agreement with the U.S. in July 2003, and joined the WTO in December 2005.
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Pumping the lifeblood of industrial economies, Saudi Arabia exports more oil than any other nation and holds 25 percent of the world's proven reserves. To increase non-oil exports, economic diversification emphasizes more dependence on manufacturing and on irrigated farming, which draw on limited underground water supplies.
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Saudi oil reserves are the largest in the world, and Saudi Arabia is the world's leading oil producer and exporter. Oil accounts for more than 90% of the country's exports and nearly 75% of government revenues. Proven reserves are estimated to be 263 billion barrels, about one-quarter of world oil reserves.
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