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S-Oil to supply $2.66 bil worth of oil products to Saudi Aramco in 2020
S-Oil, which is 63.4% owned by Aramco Overseas Co., a subsidiary of Saudi Aramco, imports 90% of its crude oil needs from Saudi Arabia -- mostly Arabian Light and Arabian Medium.
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Fed chair sees China virus as possible risk to world economy
Speaking at a news conference, Powell said the signing of a preliminary U.S.-China trade deal earlier this month, the resolution of Brexit and continuing low interest rates in the United States and abroad had suggested that the world economy would start to expand more quickly after being held back by trade conflicts. That scenario is now complicated by the emergence of the virus.
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Palestinians push U.N. action over U.S. peace plan, Abbas to speak at U.N. Security Council
However, the United States is certain to veto any such resolution, diplomats said, allowing the Palestinians to take the draft text to the 193-member U.N. General Assembly, where a vote would publicly show how Trump’s peace plan has been received internationally.
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Saudis Plan ‘Solar Dome’ Desalination Plants at Neom Mega-City
Neom will have the world’s first “solar dome” desalination plants, which it said will produce no carbon emissions and create less brine than facilities using conventional reverse osmosis technology, according to a statement. The solar dome plants will also process drinking water more cheaply than conventional plants, at 34 cents per cubic meter, Neom said. Unlike reverse osmosis, in which seawater passes through plastic membranes that remove the salt, Neom will pump ocean water into a dome-like structure of glass and steel. There it will be heated until it evaporates and precipitates as fresh water, Neom said.
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Soldiers, Militants Killed In Shoot-Out In Northwestern Pakistan
Two Pakistani soldiers and five militants have been killed in a shoot-out in the northwestern region of North Waziristan, the military says. The army said on January 30 that the militants holed up inside a compound in the Dattakhel area opened fire when security forces surrounded them.
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Not Even World’s Biggest IPO Can Get Saudis Trading More Stocks
Turnover on the Tadawul exchange in Riyadh has averaged 3.6 billion riyals ($960 million) a day over the past year, which is 16% below the gauge’s five-year average.
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Saudi Air Defenses Thwarted Attack on Aramco
Saudi Arabia’s air defense forces last week shot down missiles aimed at Saudi Aramco oil facilities, kingdom officials said Wednesday, after Iran-aligned Houthis in Yemen said they had targeted the world’s most valuable company and other sites in Saudi Arabia. The missile attacks came four months after a squad of drones carried out coordinated attacks on two of Saudi Arabia’s vital crude production sites and temporarily knocked out more than half of the country’s oil production capacity.
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Saudi Arabia planning confidential new ‘utopia’ project, says architect
Saudi Arabia is working on a confidential new project, according to the architect who designed the masterplan for Qiddiya, the kingdom’s theme park and entertainment city due to open in 2022. Bjarke Ingels, the Danish architect and founder of the Bjarke Ingels Group (BIG) told The Guardian newspaper in an interview he was working on a confidential project which he described as “a human-made ecosystem that is as close to a utopia as you dare imagine”.
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Saudi Arabia’s start-ups hit record number of deals and funding in 2019
Investments in budding businesses in the kingdom surged 92 per cent with 71 transactions recorded last year and the value of total investments rising 35 per cent to $67 million (Dh246m), according to a new report from start-up data platform Magnitt. The kingdom climbed one notch to rank third in the Middle East and North Africa in terms of number of deals and investments, following the UAE and Egypt.
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Saudi smartness: AI hackers gather in the Kingdom
The AI Artathon is an initiative of the Global AI Summit, organised by the Saudi Data and Artificial Intelligence Authority, to show the positive impact and creativity that can be empowered by artificial intelligence.
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