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Wednesday that the bank had a solid capital base, and would have a key core tier 1 measure of capital strength of 11.5 percent in 2013, even under more stringent regulatory standards. In the presentation to investors, Diamond listed corporate cards and accounts as other areas of potential profit growth, as the bank strives to reach a return on equity of 13 percent. This measure of profitability came in at just 7.2 percent last year, but Barclays had previously targeted a return on equity of 13-15 percent, before cutting this in February, citing tougher regulation....more

The petroleum sector accounts for roughly 45% of budget revenues, 55% of GDP, and 90% of export earnings. About 40% of GDP comes from the private sector. Roughly five and a half million foreign workers play an important role in the Saudi economy, for example, in the oil and service sectors. The government is encouraging private sector growth to lessen the kingdom's dependence on oil and increase employment opportunities for the swelling Saudi population. The government has begun to permit private sector and foreign investor participation in the power generation and telecom sectors. As part of its effort to attract foreign investment and diversify the economy, Saudi Arabia acceded to the WTO in 2005 after many years of negotiations. With high oil revenues enabling the government to post large budget surpluses, Riyadh has been able to substantially boost spending on job training and education, infrastructure development, and government salaries....more

addition to its thousands of branded retail outlets and gas stations, Caltex also provides fueling services at 38 airports and 103 saltwater ports in 22 countries around the world. The company has a major presence in East Africa, South Africa, East Asia, China, the Middle East, Southeast Asia, and the South Pacific, and is the only international petroleum firm that operates in all major Asian markets. With a well-trained and highly efficient international work force of approximately 7,300, more than 98 percent of the company's employees are nationals of the countries within which the various oil refining, marketing, and producing facilities operate. ...more