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JEDDAH: The new amendments to visa fees, which were approved during Cabinet’s session on Monday, are expected to increase the levels of economic activities in the country and boost the efficiency of the private sector, according to some economists. They spoke to Arab News welcoming the Kingdom’s latest move. Such steps fall within Saudi Arabia’s efforts to diversify its economy, away from the oil-based industry, they said. John Sfakianakis, director of economic research at the Gulf Research Center, commented: “The measures are intended to help raise much needed non-oil revenues. Traffic fines for violators should be welcomed as this creates more safety and discipline and then numbers should eventually reflect it. Businesses will have to pay an extra cost for travel as per global fee structures. The fee comes from a relatively low base and remains competitive.” Sami A. Al-Nwaisir, chairman of Al-Sami Holding Group, said: “The fees and taxes are good for government. I think th...

A US oil boom is set to push America past Saudi Arabia to become the world's top producer, the Daily Mail reported on October 25.  Driven by high prices and new drilling methods, the US production of crude oil is on track for the biggest single-year gain for more than 60 years, the report said. In terms  of barrels of oil produced per day, we reveal the world's top 20 producing regions. (Based on US Central Intelligence Agency's Fact Book) 01 Saudi Arabia Barrels per day (bpd): 10,520,000 Date of Information : 2010 est. Source of Information: CIA World Fact Book 02 Russia Barrels per day (bpd): 10,270,000 Date of Information : 2010 Source of Information: CIA World Fact Book 03 United States Barrels per day (bpd): 9,688,000 Date of Information : 2010 est. Source of Information: CIA World Fact Book   04  Iran Barrels per day (bpd): 4,252,000 Date of Information: 2010 est. Source of Info...

In terms of barrels of oil produced per day, we reveal the world's top 20 producing regions. (Based on US Central Intelligence Agency's Fact Book). 1. Saudi Arabia Barrels per day (bpd): 10,520,000 Date of Information : 2010 est. Source of Information: CIA World Fact Book. 2.Russia Barrels per day (bpd): 10,270,000 Date of Information : 2010 Source of Information: CIA World Fact Book 3 .United States Barrels per day (bpd): 9,688,000 Date of Information : 2010 est. Source of Information: CIA World Fact Book 4 . Iran Barrels per day (bpd): 4,252,000 Date of Information: 2010 est. Source of Information: CIA World Fact Book 5. China Barrels per day (bpd): 4,073,000Date of Information: 2011 Source of Information: CIA World Fact Book 6. Canada Barrels per day (bpd): 3,483,000 Date of Information: 2010 est. Source of Information: CIA World Fact Book 7. Mexico Barrels per day (bpd): 2,983,000 Date of Information : 2010 est. Source of ...