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  • Iran to Ease Work Restrictions as New Virus Cases Decline

    Tehran province, the epicenter of the outbreak in Iran and the country’s economic linchpin, will be excluded from the plan that involves allowing two-thirds of government employees to return to work, Rouhani said in a coronavirus task-force meeting shown on state TV.

  • Abengoa, Sepco3 win contract for Saudi Arabia’s Jubail 3A desal plant

    Madrid Stock Exchange-listed Abengoa, which uses innovative technology solutions for sustainability in the infrastructure, energy, and water sectors, has won a contract alongside Chinese engineering and construction firm Sepco3 to construct the Jubail 3A reverse osmosis (RO) desalination plant for Saudi Arabia’s ACWA Power. Abengoa’s scope of work for the plant is worth more than $200m (SAR752.6m). The Seville-based firm will be responsible for the engineering, supply, and construction of the desalination plant, which is located to the south of Jubail in the Eastern province of Saudi Arabia.

  • Agri-tech business lands $100m to support food security in UAE and Saudi

    Abu Dhabi agri-tech start-up Pure Harvest Smart Farms secured a multi-stage investment commitment of $100 million (Dh367m) with Wafra International Investment Company to fund hiring and massive expansion of its sustainable greenhouses in the UAE and Saudi Arabia. Wafra is leading Pure Harvest’s $20.6m Series A financing round with an initial $10m, the first step in a multi-phase regional growth plan that will include increasing headcount from 19 to 90, and a new six-hectare farm in Riyadh, Saudi Arabia, the company’s first foray into the kingdom.

  • Oil Investors Grow Desperate for Supply Cuts Amid Glut

    The oil market is in a race against time. The postponement of an emergency summit Monday to discuss global supply cuts means producers are more likely to lose that race. As the world’s leading exporters, Saudi Arabia and Russia, continue to trade barbs, a global glut of crude is expanding. Planes are grounded, streets are empty and factories are shut. That adds up to a huge fall in demand for oil. But producers in many cases haven’t curtailed production.

  • Saudi Arabian Universities Push to Recruit Women Faculty

    Due to a lack of engineering education for women in Saudi Arabia, there is an insufficient number of women academics in this field to fill expanding STEM departments. This has motivated universities to turn overseas to recruit women professors to the kingdom. To do so, Sani says, universities offer generous remuneration packages with travel allowances and furnished accommodations.

  • Saudi Arabia’s King Salman requests Shoura Council sessions, committee meetings held remotely

    The council will hold its first online session on Monday, chaired by the council’s chairman, Abdullah bin Mohammad Al-Asheikh, during which he will discuss several issues on the agenda.

  • Kuwait exports first shipment of oil from joint project with Saudi

    The ministry stated on Twitter that the shipment was loaded on Saturday and Sunday “via the Kuwaiti carrier, Dar Salwa.” On Friday, Minister of Oil Khaled Ali Al-Fadhil said Dar Salwa will head to Asia loaded with about one million barrels of crude oil.

  • Former Trump adviser appointed onto Saudi Aramco board

    Weinberger was the global chairman and CEO of EY from 2013 to 2019. He was active in the World Economic Forum as a member of its International Business Council and as a Global Steward for Economic Progress.

  • Russia and Saudi ‘very close’ to oil deal, Moscow envoy says

    Russia and Saudi Arabia have long been frustrated that curbs by the Organization of the Petroleum Exporting Countries and others have left a gap that has been filled by shale oil firms in the United States, which became the world’s biggest producer.

  • Aramco’s Bondholders Get Dragged Down by Saudi Oil-Price War

    The oil-price war isn’t doing any favors for Saudi Aramco’s bondholders one year on from the state-owned company’s debut on international capital markets.