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Saudi Arabia’s Qiddiya awards 1st construction contract of 2020
The Qiddiya Investment Co. (QIC) has awarded the first construction contract of the year to a major Saudi company, as building continues at the Qiddiya site. “As Qiddiya strives ahead with its construction execution, we are delighted to begin the mass grading and site preparation of our two anchor development nodes: The Resort Core and the City Center,” said Michael Reininger, CEO of QIC.
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Saudi Arabia blocks Iran from Islamic grouping’s meeting: Tehran
Saudi Arabia has barred an Iranian delegation from an Organization of Islamic Cooperation (OIC) meeting in Jeddah on Monday where U.S. President Donald Trump’s Middle East peace plan will be discussed, the Iranian foreign ministry said. Saudi authorities have not issued visas for the Iranian participants, ministry spokesman Abbas Mousavi said.
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Saudis Weigh Large Oil Cuts in Response to Coronavirus
Representatives of the Organization of the Petroleum Exporting Countries and its allies are set to meet Tuesday and Wednesday to debate possible action after the outbreak in China, the world’s largest oil consumer, led to the biggest monthly crude-price drop in 30 years.
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WHO to work closely with Saudi Arabia during Umrah season
At the first regional media conference on the 2019-nCoV by the WHO in Cairo on Sunday, experts at WHO’s Eastern Mediterranean Regional Office (WHO-EMRO) added that the UAE has a heightened level of preparedness to prevent the spread of the 2019-nCoV, even though it is the only country in the region to have reported 2019-nCoV infections till date.
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Kuwait and Saudi Arabia start work to resume oil output from Khafji: sources
Kuwait and Saudi Arabia have started preparation work to resume crude oil production from the al-Khafji oilfield jointly operated by the two countries, with initial output expected around the end of February, two industry sources said.
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What it’s like taking Careem, UAE ride-hailing app Uber bought for $3b
Careem was set up in Dubai, United Arab Emirates, in 2012. It has around one million drivers and is available in 90 cities in 15 countries, stretching from Algeria to Pakistan.
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Saudi students evacuated from coronavirus-hit Chinese city placed in quarantine
Ten Saudi students were in quarantine on Sunday after being flown home from Wuhan, the Chinese city at the center of the coronavirus outbreak. The students arrived in Riyadh on a private plane dispatched by Saudi authorities. They will spend two weeks in precautionary isolation, with full medical care and regular tests to guarantee their safety and prevent the spread of the virus.
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Saudi Arabia’s SWCC signs $426.5 million-worth loan
The “bridge” loan will finance projects to improve efficiency at desalination plants Jubail 1 and Khobar 2.
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Saudi Arabia’s Abdul Latif Jameel bets on flying taxis with Joby Aviation
“Air taxi service is still in the early stages of commercialisation, but one that has the potential to completely transform the future of mobility,” Hassan Jameel, deputy president and vice chairman of Abdul Latif Jameel, said.
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Key to Aramco’s Calm January Lies in Hands of Saudi Stock Owners
January delivered a hefty slice of volatility for oil and global energy stocks as the spreading coronavirus shocked investors. But in Riyadh, shares in Saudi Aramco followed a different narrative in their first full month of trading. The stock weathered the month -- marked by the U.S. killing of an Iranian general and then the spread of the coronavirus -- much better than oil-major peers, ending well above the price set at its record initial public offering. Aramco retreated 3.1% in January, in contrast with the 12% slump in Brent crude and a drop of more than 10% for global peers such as Chevron Corp., Total SA and Royal Dutch Shell Plc.
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