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France eyes ‘good investment opportunities’ in Saudi Arabia: Official
France is intensifying efforts to take advantage of Saudi investment opportunities in all sectors, mostly energy, technology, water and other industrial services, the country's Ambassador in Saudi Arabia said.
Saudi Arabia is an…
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UAE producing near to its maximum oil production capacity: Energy minister
The UAE is producing near to its maximum oil production capacity based on its current OPEC+ production baseline, Emirates News Agency (WAM) reported on Monday.
“In light of recent media reports, I would like to clarify that the UAE is…
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NEOM awards London-based Keller major piling contract for ‘The Line’
Saudi Arabia’s $500-billion project NEOM has awarded UK’s Keller a major piling contract for “The Line,” a 170-km megacity being developed within the Kingdom’s flagship project.
Starting in the west at the Gulf of Aqaba and terminating…
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Cyberattack forces Iran steel company to halt production
One of Iran’s biggest steel companies said on Monday it was forced to halt production after being hit by a cyberattack, apparently marking one of the biggest such assaults on the country’s strategic industrial sector in recent memory.…
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Germany’s central bank says the country’s economy will shrink 3% in 2023 if Russian gas…
Agencies have quoted Germany's central bank that the country's economy will shrink by more than 3 percent in 2023, if Russian energy supplies are halted.
And the bank continued, commenting that this “would be the worst recession outside…
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Egypt launches digital platform for petroleum products A
Egypt has launched a digital platform for petroleum products and natural gas, as the country moves ahead on the path toward digital transformation, Daily News Egypt reported.
Announcing the launch of the initiative, Tarek El Molla,…
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Egypt’s strategic wheat reserves sufficient for 5.7 months
Egypt has strategic reserves of wheat sufficient for 5.7 months, Supply Minister Aly Moselhy said in a news conference on Sunday, adding that the country has procured 3.9 million tons of wheat in the local harvest so far.
Egypt is often…
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Gold prices edge up; G7 leaders to agree on import ban on Russian gold
Gold edged up on Friday as the dollar retreated and recession fears buoyed its safe-haven appeal, but looming interest rate hikes set the non-yielding asset on course for a weekly dip.
Spot gold rose is currently priced at $1,826.88 per…
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Twitter’s Board of Directors Approves Elon Musk’s Offer to Buy the Platform for $44…
Billionaire Elon Musk took a new step towards owning Twitter on Tuesday, after the Twitter site's board of directors recommended that its shareholders vote in favor of the proposed sale, worth $44 billion.
Twitter’s board of directors…
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China In-Focus — Sinopec Shanghai Petchem shut crude, ethylene units; Evergrande sticks to…
Sinopec Shanghai Petrochemical Co. has shut its crude oil refining and ethylene units to evaluate safety risks after a fire on Saturday hit a chemical facility, a company spokesperson said.
The spokesperson did not specify the duration…
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