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ADNOC fuel station/ Reuters
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Saudi, Foreign Firms Sign MoU for New Shipbuilding Complex
Saudi, Foreign Firms Sign MoU for New Shipbuilding Complex
As a part of Saudi Arabia’s efforts to diversify its economy beyond oil, national oil giant Saudi Aramco has signed a memorandum of understanding to found a shipbuilding and repair complex in the kingdom, the company said on Tuesday. With the current decrease in oil...Caption:
Saleh Al-Jassir, left, speaks, during a news conference to announce the conclusion of a corporate merger deal between the National Shipping Company of Saudi Arabia (Bahri) and the Saudi Aramco-owned crude oil tanker company Vela International Marine Limited (Vela), on Monday, June 16, 2014, in Riyadh Saudi Arabia. (Asharq Al-Awsat/Iqbal Hussein)
Saudi Arabia’s biggest merger to date concludes
Riyadh, Asharq Al-Awsat—Saudi Arabia on Monday announced the conclusion of due diligence measures for its biggest private sector corporate merger to date, valued at 4.8 billion Saudi riyals (1.3 billion US dollars). The deal, between the National Shipping Company of...Caption:
An aerial view of Khalifa Port is seen in Abu Dhabi on April 10, 2014. (Reuters/Stringer)
Abu Dhabi ports expect year-end spike in traffic as projects boom
Abu Dhabi, Reuters—State-owned Abu Dhabi Ports Company (ADPC) expects a surge in shipping traffic towards the end of this year as work on major infrastructure projects in the United Arab Emirates capital gathers pace, the company’s chief executive said....Caption:
In this photo provided by China’s Xinhua News Agency, the first group of passengers who were aboard the trapped Russian vessel MV Akademik Shokalskiy arrive at a safe surface off the Antarctic, Thursday, Jan. 2, 2014 (AP Photo/Xinhua, Zhang Jiansong).