The economy of Saudi Arabia Essay Example | Topics and Well Written Essays - 1250 words

The economy of Saudi Arabia - Essay Example Saudi Arabia is promoting business privatization to facilitate economy diversification and national employment. Attempts at diversification center on energy production, telecommunications, natural gas breakthrough, and petrochemical divisions. In the country’s oil industry and service divisions, around 5.5 million employees are from foreign countries. Saudi government is principally centered on providing work for the big youth populace, which is deficient in education and technological expertise. Riyadh has maximized expenditures on job training and education, particularly with the opening of the King Abdallah University of Science and Technology, the country’s primary co-educational institution of higher education. To increase business ventures on foreign goods and services, Saudi Arabia joined the World Trade Organization (WTO) in 2005. The government started launching "economic cities" throughout the country to encourage economic growth. In 2004-2008, the continuing increase in the world’s oil price earned Saudi Arabia sufficient financial reserves to cope with worldwide financial disaster. However, in 2009, its economic development was hampered due to strict global credit, declining oil prices, and the large-scale economic crisis. This impediment delayed several economic expansion plans. Saudi establishments sustained the banking division throughout the global crisis by directing asset investments into banks, decreasing rates, and openly confirming Saudi administrations security of bank deposits (â€Å"Middle East: Saudi Arabia†). Saudi Arabia is the world’s biggest producer and exporter of petroleum. The oil industry was discovered in the 1930s but was commercially produced after World War II. In 1951, the Arabian-American Oil Company (ARAMCO) was established, granting 50% net earnings to Saudi Arabia. Since the 1960s, petroleum brought huge revenues to the Saudi

Financial Analysis Of Marks & Spencer Essay Example | Topics and Well Written Essays - 5250 words

Financial Analysis Of Marks & Spencer - Essay Example Marks & Spencer Board comprises of the Chairman, Chief Executive, one executive director. The Board is responsible for the success of the company. Through the Chief Executive, the Board delegates to management the overall performance of the company through the setting of clear objectives, building long-term management capability and ensuring that the business is managed in conformity with the business principles.  Marks & Spencer Board comprises of the Chairman, Chief Executive, one executive director, and four on-executive directors. The Board is responsible for the success of the company. Through the Chief Executive, the Board delegates to management the overall performance of the company through the setting of clear objectives, building long-term management capability and ensuring that the business is managed in conformity with the business principles.   Marks & Spencer is into food, clothing, household items, and financial services business located in the UK with some wholly- owned and franchised operations worldwide. 49.9% of business in the UK is derived from food sales which account for 3.2% of market share1. Food sales were up 2.4% in 2005, however, in 2006 food sales were up by 7%. M & S significant international presence contributed 9.1% to the Group’s pre-tax profits in 2006. Most of these profits were a result of strong food sales. Food comprises of a big chunk of M&S retail business.   M&S food has a sound reputation for outstanding quality and innovation.