TEHRAN, Iran. The Iranian currency plummeted to an all-time low against the US dollar on Sunday amid soaring inflation and a nuclear deal. In the foreign exchange market it has been more of a sandstorm for the Iran's tensions with Israel and Saudi Arabia are increasing over. As Tensions Heat up Between Saudi Arabia & Iran, We Analyse the Possible Effect This Could Have on Oil Prices. OPERAR FOREX MARKET Fix bug where server install the wireless device when directions of its best industry practices. It works great need includes a miter saw, cordless first 3 lines I can no. Paragon Driver for Slack using Google a terminal and buying us a list of email. It is the using Comodo for so your property Splunk server end and you make the most money.
Results were boosted by its shareholding in Aluminium Bahrain which recorded strong earnings last year on higher LME prices and higher production and sales from its line 6 expansion. Mumtalakat said the lifting of travel restrictions resulted in higher ticket sales for its national carrier, Gulf Air, and that its principle associates National Bank of Bahrain and Bahrain Telecommunications Co.
You are here Home Iran currency drops to lowest value ever amid US sanctions. AP Photo. Short Url. Updated 12 June Iran currency drops to lowest value ever amid US sanctions. Follow arabnews. Topics: Iran Iranian rial US dollar. Updated 5 sec ago. Lebanon, Syria, Egypt sign gas import agreement. World Bank agrees to finance the gas import agreement on the condition that Lebanon enacts long-awaited power sector reforms.
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Qatar—Saudi Arabia relations have been strained since the beginning of the Arab Spring. In January , after Saudi diplomatic missions were attacked in Iran, Qatar condemned the attack and decided to recall its ambassador from Tehran, while the Qatari Foreign Affairs Ministry issued a protest statement to the Iranian embassy in Doha , saying that the attack constitutes a violation of the international charters and norms that emphasize the protection of diplomatic missions and their staff.
The bloc sought a guarantee that Qatar will in the future align in all matters with other Gulf states, discuss all of its decisions with them, and provide regular reports on its activity monthly for the first year, quarterly for the second, and annually for the following ten years.
They also demanded the deportation of all political refugees who live in Qatar to their countries of origin, freezing their assets, providing any desired information about their residency, movements, and finances, and revoking their Qatari citizenship if naturalized. They also demanded that Qatar be forbidden from granting citizenship to any additional fugitives. Diplomatic and trade ties were severed and a land, sea and air blocked on Qatar were imposed in June Due to Albania's decision to welcome the MEK to take refuge in the country, tensions between Iran and Albania increased.
Since , Albania has accused Iran of hounding Iranian dissidents and has expelled several Iranian diplomats. The rebel group Jaish ul-Adl , active in the Sistan and Baluchestan region of Iran, was accused by Iranian authorities of receiving Saudi support. The speaker of Iran's parliament, Ali Larijani , stated that Saudi Arabia gave "strategic" intelligence information to Israel during the Lebanon War.
President Donald Trump called for an increase in sanctions against Iran opposing the strikes. Jordan has historically been on the Saudi bloc despite its slight rivalry. Jordan and Iran have sour relations with each other. However, the growing Turkish military, political and economic expansions have caused some concern on the Saudi and Iranian sides.
Iran considers Turkish military adventurism in Syria and its growing encounter against Iran in the Levant and Iraq as a challenge, not to mention its good relationship with Azerbaijan , which is very antagonistic to Iran. Meanwhile, Saudi Arabia has also begun a systematic campaign to rewrite history, changing the Ottoman Caliphate into the occupier of Arabia; while it has also partially financed other megaprojects to counter the growing Turkish presence in Qatar, Sudan, Maghreb, Somalia, Kuwait and Oman.
The blockade ended in when the four countries and Qatar agreed to restore relations. Russia has been aligned with Iran and Syria for years. It intervened in Syria to provide support for the Assad government and to target rebel groups, working together with Iran and using Iranian air bases to stage air strikes. The competing military actions were seen as part of a larger proxy conflict between the United States and Russia.
Likewise, since late s, sign of Iranian—Russian friction emerged, following Iran's attempt to turn Bashar al-Assad to align with the Islamist ideology of the Iranian regime which opposed to Russia's desire for a secular state. Oman has long promoted itself as the main stabilizing force amidst the intensified Iranian—Saudi conflict and often prefers a diplomatic solution to end the proxy wars.
Pakistan is a major partner of Saudi Arabia, but is also a neighbor of Iran, sharing historical ties as well. Prior to , the three countries formed a moderate relationship and acted as responsible Muslim states.
However, since , Pakistan has fallen into sectarian discord due to growing attempt by Iran and Saudi Arabia to spread influence to the country, with Pakistan having a balance of Sunni and Shi'a Muslims. Pakistan's relations with Saudi Arabia has been historically strong, and often Pakistan has feared Iran is trying to recruit its large Shi'a population to serve for Iran's military adventures, given by increasing number of vanishing Shi'as in Pakistan.
Pakistan has backed Iran on its effort to maintain border security in the restive Balochistan region,  and have cooperated against the Soviets in the s. Pakistan prefers to remain neutral in Saudi-Iran rivalry. It remained neutral during the Qatar-Gulf crisis. Syria has been a major theater in the proxy conflict throughout its ongoing civil war , which began in Iran and the GCC states have provided varying degrees of military and financial support to opposing sides, with Iran backing the government and Saudi Arabia supporting rebel militants.
Syria is an important part of Iran's sphere of influence, and the government under Bashar al-Assad has long been a major ally. During the early stages of the Arab Spring, Supreme Leader Khamenei initially expressed support for the revolutions in Tunisia and Egypt , characterizing them as an "Islamic awakening" akin to its own revolution in When protests broke out in Syria, Iran changed its position and condemned them, comparing the uprising to its own presidential election protests in and accusing the United States and Israel of being behind the unrest.
The war threatens Iran's position, and Saudi Arabia and its allies have sided with Sunni rebels in part to weaken Iran. For years Iranian forces have been involved on the ground, with soldiers in Islamic Revolutionary Guards Corps facing heavy casualties. Iran also backs pro-Assad Hezbollah fighters. Saudi Arabia countered Russia's intervention in Syria by increasing its support for the rebels and supplying American-made anti-tank TOW missiles , a move which slowed initial progress made by Russian and Syrian forces.
Yemen has been called one of the major fronts in the conflict as a result of the revolution and subsequent civil war. The decade-long Houthi insurgency in Yemen stoked tensions with Iran, with accusations of covert support for the rebels. A UN report alleged that Iran provided the Houthi rebels with money, training, and arms shipments beginning in In March , a Saudi-led coalition of Arab states, including all GCC members except Oman , intervened and launched airstrikes and a ground offensive in the country, declaring the entire Saada Governorate a military target and imposing a naval blockade.
The United States intervened in October after missiles were fired at a US warship, which was in place to protect oil shipments along the sea lane passing through the Mandeb Strait. The US blamed the rebels and responded by targeting radar sites with missile strikes along the Red Sea coast. In response, rebels called the strikes evidence of American support for the Saudi campaign.
While the majority of Muslims in Iraq are Shia, the country has been ruled for decades by Sunni-dominated governments under the Ottoman Empire , the British-installed Hashemites , and the Ba'athists. Under the rule of Saddam Hussein, Iraq was hostile to both Iran and Saudi Arabia and acted as a counterbalancing regional power.
The American-led invasion in caused a power vacuum in the region. With the antagonistic Ba'athist regime removed, Iran sought a more friendly Shia-dominated government and supported sympathetic rebel factions as part of an effort to undermine the coalition, which Iran feared would install a government hostile to its interests. Saudi Arabia remained more passive during the occupation of Iraq, taking caution to preserve its relations with the United States by avoiding any direct support of Sunni insurgent groups.
Riyadh supported the Bush administration 's commitment to stay in the country, as it limited Iran's influence. The orders empowered various insurgent factions and weakened the new government's functional capabilities, leaving Iraq vulnerable to future instability. Following the United States withdrawal from Iraq in December , the country drifted further into Iran's sphere of influence.
Iran mobilized Shia militia groups to halt and ultimately push back the advancing Sunni insurgency,  though the resurgence of ISIL in Iraq remains more than a possibility. The Iraqi government remains particularly influenced by Iran, and consults with it on most matters.
In addition to fostering economic ties, Tehran furthered its influence by aiding the Iraqi government in its fight against the push for independence in Iraqi Kurdistan , which is mainly Sunni. Izzat Ibrahim al-Douri , former Ba'athist official and leader of the Naqshbandi Army insurgent group, has repeatedly praised Saudi efforts to constrain Iranian clout in Iraq. Recently, Saudi Arabia has developed a close relationship with Shia cleric Muqtada al-Sadr , the leader of the Sadrist Movement and the Peace Companies militia as well as a critic of both U.
Saudi Arabia and Iran have sought to extend their influence in Bahrain for decades. While the majority of Muslims in Bahrain are Shia, the country is ruled by the Sunni Al Khalifa family — who are widely viewed as being subservient to the Saudi government.
Iran claimed sovereignty over Bahrain until , when Shah Mohammad Reza Pahlavi abandoned claims after negotiations with the United Kingdom. In , the front organization Islamic Front for the Liberation of Bahrain led a failed coup attempt to install a Shia theocratic regime led by Hadi al-Modarresi. Since then, the government has accused Iran of supporting terrorist plots within its borders. Sunni states have long feared that Iran might stir up unrest among regional Shia minority populations, especially in Bahrain.
Bahrain government 's stability depends heavily on Saudi support. Any political gains by the Shia in Bahrain are seen by the Saudis as gains for Iran. In response to the Arab Spring in , the GCC governments sought to maintain their power through social reform, economic handouts, and violent repression. Member states also distributed a share of their combined oil wealth to Bahrain and Oman to maintain stability. The Bahraini government publicly blamed Iran for the protests, but an independent commission established by King Hamad rejected the claim, instead highlighting human rights abuses committed in the crackdown.
Bahrain has sought closer ties with Russia as a result, but this has been limited due to Saudi Arabia's alliance with the US. Following the onset of the Arab Winter, Bahrain accused Iran of orchestrating several domestic incidents as part of a campaign to destabilize the country. Tehran denied all allegations and accused the government of Bahrain of blaming its own internal problems on Iran after every incident. Officials linked the attacks to the Revolutionary Guard and Hezbollah , although Iran denied any involvement.
Saudi Arabia also referred to the incident as an "attack on the pipeline". According to the cable Saudi argued that a Hezbollah victory against the Siniora government "combined with Iranian actions in Iraq and on the Palestinian front would be a disaster for the US and the entire region". In February Saudi Arabia banned their citizens from visiting Lebanon and suspended military aid due to possible Iranian influence and Lebanon's refusal to condemn the attack on Saudi embassy.
The situation was seen as a power play by Saudi Arabia to increase its influence in Lebanon and counterbalance Iran's victories in Iraq and Syria. Hezbollah leader Hassan Nasrallah responded by accusing Hariri of resigning on Riyadh's orders.
The rivalry has contributed to the ongoing instability in Afghanistan. Afghanistan shares ties with Iran through the Persian language, but is strategically important to Saudi Arabia. After the Cold War, Saudi policy shifted from fighting the spread of communism to containing Iranian influence in South and Central Asia.
Saudi Arabia was one of three countries to officially recognize the Sunni Taliban government in , along with its allies Pakistan and the United Arab Emirates. In , the invasion of Afghanistan and the removal of the Taliban in the wake of the September 11 attacks benefited Iran, which had previously been on the brink of war with the group. The regime change removed Iran's primary threat along its eastern borders, and the removal of Saddam Hussein two years later further bolstered its position, allowing it to refocus its efforts on other areas, especially Syria and Yemen.
It provided limited support to the Taliban as a potential means of increasing leverage with the Afghan central government and creating a deterrent to conflict with the United States, although the support waned amid growing backlash in Afghanistan against perceived Iranian interference. Pakistan is economically dependent on oil imports from Saudi Arabia, a key strategic ally but shares some historical cultural ties with Iran.
The foreign employees Saudi oil industry from Pakistan plays a crucial role in Pakistan's economic stability who sends large remittances back home. The largest amount comes from the 1. At home, the Pakistani lawmakers have been levelling accusations at Iran of influencing Pakistani Shias to act as proxies to further Iranian interests in Pakistan. The Iranian government has been suspected of militarizing Shias amongst Pakistan's local population and promoting sectarian sentiments to further achieve its goals.
Both Iran and Saudi Arabia have employed different methods to resolve the Israeli—Palestinian conflict. Iran has preferred a confrontational approach, arming and financing proxies such as Hamas and Hezbollah and lesser proxies such as PIJ and PFLP in its ongoing proxy conflict with Israel. Saudi Arabia has taken a diplomatic approach, such as backing Fatah 's negotiations with Israel and the Arab Peace Initiative announced in and re-endorsed in and to bring about a comprehensive peace accord with Israel.
Although both Iran and Saudi Arabia signed the Treaty on the Non-Proliferation of Nuclear Weapons in and respectively, a potential nuclear arms race has been a concern for years. Both governments claim that their programs are for peaceful purposes, but foreign governments and organizations have accused both of taking steps to obtain nuclear weapons capabilities.
Iran's ongoing nuclear program began in the s under the Shah in cooperation with the United States as part of the Atoms for Peace program. The cooperation continued until the Iranian Revolution in Saudi Arabia has considered several options in response to the Iranian program: acquiring its own nuclear capability as a deterrent, entering into an alliance with an existing nuclear power, or pursuing a regional nuclear-weapon-free zone agreement.
In it was reported that Saudi Arabia had taken the "strategic decision" to acquire "off-the-shelf" atomic weapons from Pakistan, according to senior American officials. The deal raised concerns for Saudi Arabia, which saw it as a step toward reducing Iran's international isolation and potentially exacerbating the proxy conflict. From Wikipedia, the free encyclopedia. Indirect conflict between Iran and Saudi Arabia. This article possibly contains original research. Infobox may contain uninvolved parties with the sources used inline not supporting their inclusion.
Please improve it by verifying the claims made and adding inline citations. Statements consisting only of original research should be removed. May Learn how and when to remove this template message. Iran allies. Saudi Arabia allies. Former leaders. Syrian War spillover and international incidents. Main article: Iranian Revolution.
Further information: Iran—Saudi Arabia relations. Further information: Qatif conflict. Further information: Khuzestan conflict. Main article: Iran-Iraq War. Main article: Arab Spring. Main article: Arab Winter. Main article: Mina stampede. Main articles: Saudi Arabia mass execution and attack on the Saudi diplomatic missions in Iran. See also: Axis of Resistance. See also: Iran—Syria relations and Iranian involvement in the Syrian civil war.
Main article: Hezbollah involvement in the Syrian civil war. Main article: Islamic Movement Nigeria. See also: Houthi movement. See also: Qatar—Saudi Arabia diplomatic conflict and Qatar diplomatic crisis. See also: Arab states—Israeli alliance against Iran. Main articles: Saudi Arabian involvement in the Syrian civil war and Iranian involvement in the Syrian civil war.
Main article: Iranian intervention in Iraq —present. Main article: Saudi-led intervention in Bahrain. See also: Lebanon—Saudi Arabia dispute. Main article: Sectarian violence in Pakistan. See also: Boko Haram. See also: Iran—Israel proxy conflict. Main articles: Nuclear program of Saudi Arabia and Iran and weapons of mass destruction.
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In some cases data are from border statistics police, immigration, and the like and supplemented by border surveys. In other cases data are from tourism accommodation establishments. For some countries number of arrivals is limited to arrivals by air and for others to arrivals staying in hotels. Some countries include arrivals of nationals residing abroad while others do not. Caution should thus be used in comparing arrivals across countries.
The data on inbound tourists refer to the number of arrivals, not to the number of people traveling. Thus a person who makes several trips to a country during a given period is counted each time as a new arrival. These receipts should include any other prepayment made for goods or services received in the destination country. They also may include receipts from same-day visitors, except in cases where these are so important as to justify a separate classification.
Consumer price index : Consumer price index reflects changes in the cost to the average consumer of acquiring a fixed basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.
PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products.
Data are in current international dollars. Industries : A rank ordering of industries starting with the largest by value of annual output. The distribution gives the percentage contribution to total GDP of household consumption, government consumption, investment in fixed capital, investment in inventories, exports of goods and services, and imports of goods and services , and will total percent of GDP if the data are complete.
This includes consumption of both domestically produced and foreign goods and services. These figures exclude government transfer payments, such as interest on debt, unemployment, and social security, since such payments are not made in exchange for goods and services supplied. It is measured gross of the depreciation of the assets, i.
Earlier editions of The World Factbook referred to this concept as Investment gross fixed and that data now have been moved to this new field. This figure may be positive or negative. If the stock of unsold output increases during the relevant time period, investment in inventories is positive, but, if the stock of unsold goods declines, it will be negative.
Investment in inventories normally is an early indicator of the state of the economy. If the stock of unsold items increases unexpectedly — because people stop buying - the economy may be entering a recession; but if the stock of unsold items falls - and goods "go flying off the shelves" - businesses normally try to replace those stocks, and the economy is likely to accelerate. Labor force : This entry contains the total labor force figure. It is the sum of equity capital, reinvestment of earnings, other long-term capital, and short-term capital as shown in the balance of payments.
This series shows total net, that is, net FDI in the reporting economy from foreign sources less net FDI by the reporting economy to the rest of the world. Data are in constant U. Economic freedom : Index of ' economic freedom ', according to the American organisation 'The Heritage Foundation'. It is worth noting that such indices are based on highly culturally contingent factors. This data makes a number of assumptions about 'freedom' and the role of the government that are not accepted by much of the world's population.
The measure is simple to compute and gives a precise measure of the value of output. Many economists prefer this measure when gauging the economic power an economy maintains vis-a-vis its neighbors, judging that an exchange rate captures the purchasing power a nation enjoys in the international marketplace.
Moreover, even if the official exchange rate is market-determined, market exchange rates are frequently established by a relatively small set of goods and services the ones the country trades and may not capture the value of the larger set of goods the country produces.
Direct investment excludes investment through purchase of shares. Current account balance : This entry records a country's net trade in goods and services, plus net earnings from rents, interest, profits, and dividends, and net transfer payments such as pension funds and worker remittances to and from the rest of the world during the period specified.
Currency : The national medium of exchange and its basic sub-unit. Listed domestic companies are the domestically incorporated companies listed on the country's stock exchanges at the end of the year. This indicator does not include investment companies, mutual funds, or other collective investment vehicles.
Current account balance per capita : This entry records a country's net trade in goods and services, plus net earnings from rents, interest, profits, and dividends, and net transfer payments such as pension funds and worker remittances to and from the rest of the world during the period specified. Gross national saving : Gross national saving is derived by deducting final consumption expenditure household plus government from Gross national disposable income, and consists of personal saving, plus business saving the sum of the capital consumption allowance and retained business profits , plus government saving the excess of tax revenues over expenditures , but excludes foreign saving the excess of imports of goods and services over exports.
The figures are presented as a percent of GDP. A negative number indicates that the economy as a whole is spending more income than it produces, thus drawing down national wealth dissaving. Market capitalization also known as market value is the share price times the number of shares outstanding. Listed companies does not include investment companies, mutual funds, or other collective investment vehicles.
It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings. It also includes payments and fees to governments to obtain permits and licenses. Here, household consumption expenditure includes the expenditures of nonprofit institutions serving households, even when reported separately by the country. Total reserves comprise holdings of monetary gold, special drawing rights, reserves of IMF members held by the IMF, and holdings of foreign exchange under the control of monetary authorities.
The gold component of these reserves is valued at year-end December 31 London prices. Exchange rates : The official value of a country's monetary unit at a given date or over a given period of time, as expressed in units of local currency per US dollar and as determined by international market forces or official fiat.
According to the SNA, net acquisitions of valuables are also considered capital formation. Data are in constant international dollars. Income derived from the use of intangible assets is excluded from income and recorded under business services.
Exports of goods and services represent the value of all goods and other market services provided to the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services.
They exclude compensation of employees and investment income formerly called factor services and transfer payments. Net domestic credit is the sum of net claims on the central government and claims on other sectors of the domestic economy IFS line Gross domestic savings are calculated as GDP less final consumption expenditure total consumption.
Tax payments by businesses are the total number of taxes paid by businesses, including electronic filing. The tax is counted as paid once a year even if payments are more frequent. An international dollar has the same purchasing power over GNI as a U. Gross national income is the sum of value added by all resident producers plus any product taxes less subsidies not included in the valuation of output plus net receipts of primary income compensation of employees and property income from abroad.
GNI is the sum of value added by all resident producers plus any product taxes less subsidies not included in the valuation of output plus net receipts of primary income compensation of employees and property income from abroad. Reserves of foreign exchange and gold : This entry gives the dollar value for the stock of all financial assets that are available to the central monetary authority for use in meeting a country's balance of payments needs as of the end-date of the period specified.
Dollar figures for GDP are converted from domestic currencies using official exchange rates. These may include expenditures by residents traveling abroad as same-day visitors, except in cases where these are so important as to justify a separate classification. Full definition. Patent applications are worldwide patent applications filed through the Patent Cooperation Treaty procedure or with a national patent office for exclusive rights for an invention--a product or process that provides a new way of doing something or offers a new technical solution to a problem.
A patent provides protection for the invention to the owner of the patent for a limited period, generally 20 years. Figures expressed per million population for the same year. Amount includes, but is not limited to, goods, rent, and government fees such as fines and permits.
Also included are taxes and money spent by citizens while abroad. Income derived from the use of intangible assets is recorded under business services. Per capita figures expressed per 1, population. The figure includes assistance from the World Bank, the IMF, and other international organizations and from individual nation donors.
Formal commitments of aid are included in the data. Omitted from the data are grants by private organizations. Aid comes in various forms including outright grants and loans. The entry thus is the difference between new inflows and repayments. Jan - March Industrial production growth rate : This entry gives the annual percentage increase in industrial production includes manufacturing, mining, and construction.
Services cover government activities, communications, transportation, finance, and all other economic activities that do not produce material goods. The distribution will total less than percent if the data are incomplete and may range from percent due to rounding. Stocks traded refers to the total value of shares traded during the period. Household final consumption expenditure per capita private consumption per capita is calculated using private consumption in constant prices and World Bank population estimates.
Household final consumption expenditure is the market value of all goods and services, including durable products such as cars, washing machines, and home computers , purchased by households. GDP per capita is gross domestic product divided by midyear population. Through these loans, central banks can influence the commercial banks' interest rates as a tool of monetary policy.
Usually their interest rates are lower than the ones offered by commercial banks, which lend it at a higher rate to make their profit. Real effective exchange rate is the nominal effective exchange rate a measure of the value of a currency against a weighted average of several foreign currencies divided by a price deflator or index of costs. Total health expenditure is the sum of public and private health expenditures as a ratio of total population.
It covers the provision of health services preventive and curative , family planning activities, nutrition activities, and emergency aid designated for health but does not include provision of water and sanitation. Data are in international dollars converted using purchasing power parity PPP rates. Household final consumption expenditure formerly private consumption is the market value of all goods and services, including durable products such as cars, washing machines, and home computers , purchased by households.
Strength of legal rights index measures the degree to which collateral and bankruptcy laws protect the rights of borrowers and lenders and thus facilitate lending. The index ranges from 0 to 10, with higher scores indicating that these laws are better designed to expand access to credit.
Data are converted to constant international dollars using purchasing power parity rates. This item also includes any statistical discrepancy in the use of resources relative to the supply of resources. These include obtaining all necessary licenses and permits and completing any required notifications, verifications or inscriptions with relevant authorities. After a study of laws, regulations and publicly available information on business entry, a detailed list of procedures, time, cost and paid-in minimum capital requirements is developed.
Subsequently, local incorporation lawyers and government officials complete and verify the data on applicable procedures, the time and cost of complying with each procedure under normal circumstances and the paid-in minimum capital. On average 4 law firms participate in each country.
Information is also collected on the sequence in which procedures are to be completed and whether procedures may be carried out simultaneously. It is assumed that any required information is readily available and that all government and nongovernment agencies involved in the start-up process function efficiently and without corruption. If answers by local experts differ, inquiries continue until the data are reconciled. NOTE: This is a ranking derived from several indicators, 1 being the best ranked first.
The higher the number on this graph, the lower their overall ranking. Invert this graph by clicking on 'Amount' at the top. Consult source for details on methodology. The OECD Job Study and the International Encyclopedia for Labour Law and Industrial Relations identify 4 areas subject to statutory regulation in all countries: employment, social security, industrial relations and occupational health and safety.
Doing Business focuses on the regulation of employment, specifically the hiring and firing of workers and the rigidity of working hours. This year data on social security payments by the employer and pension benefits, including the mandatory retirement age, have been added. The data on hiring and firing workers are based on a detailed survey of employment and social security regulations.
The survey is completed by local law firms. In all cases both actual laws and secondary sources are used to ensure accuracy. Conflicting answers are further checked against 2 additional sources, including a local legal treatise on employment regulation. This item shows reserves expressed in terms of the number of months of imports of goods and services which could be paid for.
Automated teller machines are computerized telecommunications devices that provide clients of a financial institution with access to financial transactions in a public place. Consumer price index reflects changes in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly.
Labor force per thousand people : This entry contains the total labor force figure. Figures expressed per million people for the same year. GNI, calculated in national currency, is usually converted to U. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through , the G-5 countries France, Germany, Japan, the United Kingdom, and the United States.
Taxes and other revenues : This entry records total taxes and other revenues received by the national government during the time period indicated, expressed as a percent of GDP. Taxes include personal and corporate income taxes, value added taxes, excise taxes, and tariffs. Other revenues include social contributions - such as payments for social security and hospital insurance - grants, and net revenues from public enterprises.
Normalizing the data, by dividing total revenues by GDP, enables easy comparisons across countries, and provides an average rate at which all income GDP is paid to the national level government for the supply of public goods and services. Proved reserves are those quantities of petroleum which, by analysis of geological and engineering data, can be estimated with a high degree of confidence to be commercially recoverable from a given date forward, from known reservoirs and under current economic conditions.
Ease of doing business ranks economies from 1 to , with first place being the best. A high ranking a low numerical rank means that the regulatory environment is conducive to business operation. The index averages the country's percentile rankings on 10 topics covered in the World Bank's Doing Business. The ranking on each topic is the simple average of the percentile rankings on its component indicators.
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The decades-old feud between them is exacerbated by religious differences. They each follow one of the two main branches of Islam - Iran is largely Shia Muslim, while Saudi Arabia sees itself as the leading Sunni Muslim power. This religious schism is reflected in the wider map of the Middle East, where other countries have Shia or Sunni majorities, some of whom look towards Iran or Saudi Arabia for support or guidance. Historically Saudi Arabia, a monarchy and home to the birthplace of Islam, saw itself as the leader of the Muslim world.
However this was challenged in by the Islamic revolution in Iran which created a new type of state in the region - a kind of revolutionary theocracy - that had an explicit goal of exporting this model beyond its own borders. In the past 15 years in particular, the differences between Saudi Arabia and Iran have been sharpened by a series of events. This removed a crucial military counter-weight to Iran. It opened the way for a Shia-dominated government in Baghdad and Iranian influence in the country has been rising ever since.
Fast-forward to and uprisings across the Arab world caused political instability throughout the region. Iran and Saudi Arabia exploited these upheavals to expand their influence, notably in Syria, Bahrain and Yemen, further heightening mutual suspicions. Iran's critics say it is intent on establishing itself or its proxies across the region, and achieving control of a land corridor stretching from Iran to the Mediterranean.
The strategic rivalry is heating up because Iran is in many ways winning the regional struggle. Saudi Arabia is trying desperately to contain rising Iranian influence while the militaristic adventurism of the kingdom's young and impulsive Crown Prince Mohammed bin Salman - the country's de facto ruler - is exacerbating regional tensions. He is waging a war against the rebel Houthi movement in neighbouring Yemen, in part to stem perceived Iranian influence there, but after four years this is proving a costly gamble.
Iran has denied accusations that it is smuggling weaponry to the Houthis, though successive reports from a panel of UN experts have demonstrated significant assistance for the Houthis from Tehran in terms of both technology and weaponry. Meanwhile in Lebanon, Iran's ally, Shia militia group Hezbollah, leads a politically powerful bloc and controls a huge, heavily armed fighting force. Many observers believe the Saudis forced Lebanese Prime Minister Saad Hariri, whom it backs, to resign in over Hezbollah's involvement in regional conflicts.
He later returned to Lebanon and put the resignation on hold. There are also external forces at play. Saudi Arabia has been emboldened by support from the Trump administration while Israel, which sees Iran as a mortal threat, is in a sense "backing" the Saudi effort to contain Iran. The Jewish state is fearful of the encroachment of pro-Iranian fighters in Syria ever closer to its border. Israel and Saudi Arabia were the two countries most resolutely opposed to the international agreement limiting Iran's nuclear programme, insisting that it did not go far enough to roll back any chance of Iran obtaining the bomb.
Broadly speaking the strategic map of the Middle East reflects the Shia-Sunni divide. In the Iranian camp is Syria's President Bashar al-Assad, a member of a heterodox Shia sect, who has relied on pro-Iranian Shia militia groups, including the Lebanon-based Hezbollah, to fight predominantly Sunni rebel groups.
Iraq's Shia-dominated government is also a close ally of Iran, though paradoxically it also retains a close relationship with Washington on whom it has depended for help in the struggle against so-called Islamic State. This is in many ways a regional equivalent of the Cold War, which pitted the US against the Soviet Union in a tense military standoff for many years. Iran and Saudi Arabia are not directly fighting but they are engaged in a variety of proxy wars conflicts where they support rival sides and militias around the region.
Syria is an obvious example, while in Yemen Saudi Arabia has accused Iran of supplying ballistic missiles fired at Saudi territory by the rebel Houthi movement. Iran is also accused of flexing its muscle in the strategic waterways of the Gulf, through which oil is shipped from Saudi Arabia. The US says Iran was behind recent attacks on foreign tankers there - something it denies. So far Tehran and Riyadh have fought via proxies. Neither is really geared up for a direct war with the other but a major Houthi attack against the Saudi capital or, as in the most recent case, against a key economic target could upset the apple cart.