Prince Saud upbeat on Saudi-Indian ties

July 15, 2014

Prince Saud

Jeddah, Jul 15: Prince Saud bin Musaed bin Abdul Aziz, president of the Gammon Group, has highlighted the strong relationship between Saudi Arabia and India.

“We hope the Saudi-Indian relations would reach greater heights in the coming years,” he said while addressing an iftar party organized by the group.

He said many major Indian companies are interested in doing business in Saudi Arabia to make use of the growing investment opportunities in the Kingdom.

“Last year, more than 35,000 Saudis visited India for education and medical treatment,” the prince said, while commending the role played by Indian expatriate workers in boosting the Kingdom’s development in various sectors.

Shaikh Mohammed Rafik, chairman of Gammon Group, said more than 20 international companies, including those from India, Canada, Australia, Malaysia and China, have agreed to establish their plants in the new industrial city being developed by Gammon in Jazan.

“We are looking for investors in areas required by the Kingdom, including automobiles. We are in talks with a South Korean company to establish an automobile plant in Jazan,” Rafik told Arab News.

The new industrial city is expected to draw investments worth SR75 billion, the chairman said, adding that it would create about 100,000 jobs. He commended Prince Turki bin Mohammed bin Nasser, director of international trade at the Ministry of Commerce and Industry, for his efforts to speed up establishment of the industrial city.

He added that Prince Turki has been authorized by the government to develop the city by bringing in foreign investors to build the city’s entire infrastructure facilities, such as roads, bridges, commercial centers, power plants, water treatment plants, oil refinery and petrochemical plants.

“If major companies are ready to invest and transfer their technology, the government will pay them 75 percent of their project cost in soft loans for 20 years,” Rafik told Arab News.

The iftar party was attended by prominent personalities, including Indian Consul General B.S. Mubarak, British Consul General Mohammed Shaukat, South African Consul General Ebrahim Edries, Khaled Almaeena, former editor in chief of Saudi Gazette, Tariq Mishkhas, editor in chief of Urdu News and Malayalam News, Dr. Faiz Al-Abideen, CEO of Gammon Group, A.P. Abubacker Musliyar, general secretary of All-India Jameyat Al-Ulema, and Syed Bashirali Shihab Thangal.

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News Network
June 17,2020

Abu Dhabi, Jun 17: The Ministry of Education (MoE) has allowed students still enrolled in universities overseas to obtain exceptions to attendance policies at their respective academic institutions in light of the Covid-19 pandemic.

In a statement, the ministry said that the move stems from its keenness to ensure the continuity of education for those students and to maintain effective channels of communication with them.

Students' applications for exceptions to academic attendance in universities due to Covid-19 should be submitted following the end of the academic year, and not after the academic semester, via the following email: [email protected].

In their email, students have to explain the reasons for the required exceptions and should include an official message from the university concerned.

Scholarship approval issued by the Ministry of Education for studying abroad should also be attached.

The student's score reports for the academic years spent in the host countries and the duration of each academic year should also be attached, in addition to an entry and exit report of the student from the Federal Authority for Identity and Citizenship.

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News Network
March 21,2020

Mar 21: Qatari authorities arrested 10 nationals for breaking home quarantine rules as Doha tightens regulations amid the coronavirus outbreak, local daily The Peninsula Qatar reported on Saturday.

The Ministry of Public Health released a statement naming the detainees and said that the violators were currently being referred to prosecution.

The tiny country, where expatriates comprise the majority of the population, on Thursday reported eight more infections to take its tally to 470, the highest number among the six Gulf Arab states that have reported a total of more than 1,300 coronavirus cases.

Government spokeswoman Lulwa Rashed Al-Khater told a news conference the new cases included two Qataris who had been in Europe, with the rest migrant workers.

Qatari authorities on Tuesday announced the closure of several square kilometers of the industrial area in Doha, the capital, which also contains labor camps and other housing units.

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News Network
March 11,2020

Mar 11: Energy giant Saudi Aramco on Wednesday said it plans to raise its crude production capacity by one million barrels per day to 13 million bpd as a price war with Russia intensifies.

"Saudi Aramco announces that it received a directive from the ministry of energy to increase its maximum sustainable capacity from 12 million bpd to 13 million bpd," the company said in a statement to the Saudi Stock Exchange.

The decision comes a day after the world's top exporter, Saudi Arabia, decided to hike production by at least 2.5 million bpd to a record 12.3 million from April.

The Saudi moves come after the collapse of an oil production reduction agreement between OPEC and non-OPEC producers, including Russia.

The deal proposed by Saudi Arabia called for additional output cuts of 1.5 million bpd to cope with the severe economic impact of the coronavirus which has sharply reduced world demand for crude.

Boosting production capacity normally takes a long time and requires billions of dollars of investment.

Several years ago, the kingdom had shelved plans to boost its crude production capacity beyond 12 million bpd after demand for OPEC oil declined in the face of stiff competition from North American shale oil and other sources.

Russia on Tuesday said it was open to renewing cooperation with the OPEC cartel even as its kingpin Saudi Arabia escalated a price war with Moscow by announcing it would flood markets with new supplies.

The oil price war broke out after OPEC and a group of non-member countries dominated by Russia -- the world's second largest producer -- on Friday failed to agree on production cuts.

Saudi Arabia responded by announcing unilateral price cuts. This prompted the oil price to plummet and fuelled huge falls on stock markets around the world on Monday.

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