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Saudi cement companies in central region may reduce prices due to strong competition.

RIYADH: A price war between cement producers is likely to break out in Saudi Arabia’s central region on the back of the giga-projects boom, according to a recent report from AlJazira Capital. Since the majority of the huge ongoing developments in the Kingdom are located in its center, companies from across the country have ventured into the region, causing competition to soar.   The report added that the central area is also logistically more feasible and accessible for the majority of the firms in the Kingdom, further attracting external players. 
Business

ACWA Power gets $100m credit from Chinese bank to expand operations

RIYADH: In an effort to boost its operations, Saudi energy firm ACWA Power secured $100 million in a revolving credit facility from China Construction Bank. Engaged in collaboration with the Chinese bank since 2016, ACWA Power signed the three-year revolver agreement to scale up its power generation and water desalination portfolio in the Middle East, Uzbekistan and Kazakhstan.
Business

Aramco and TotalEnergies Award $11 Billion Amiral Project Contracts

DHAHRAN, Saudi Arabia: Aramco and TotalEnergies have awarded engineering, procurement and construction contracts for the $11 billion Amiral complex, a future world-scale petrochemicals facility expansion at the Kingdom’s SATORP refinery. A signing ceremony took place in Dhahran attended by Amin H. Nasser, Aramco president and CEO, and Patrick Pouyanne, TotalEnergies chairman and CEO.
News

Kyrsten Sinema Cuts Pilot Training Funding After Receiving Airline Contributions

The airline-backed amendment to radically alter pilot training requirements is opposed by pilot and flight attendant unions.

The post Kyrsten Sinema Moves to Slash Pilot Training After Taking Airline Cash appeared first on The Intercept.

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“Ukrainian Kickboxing Champ Maksym Bordus Dies in War”

KYIV: Ukrainian kickboxing champion Maksym Bordus has been killed fighting Russian forces, a website that lists athletes killed in the war said on Tuesday. Bordus was killed on June 11 in “fierce fighting against Russian invaders,” according to “Sport Angels,” a Ukrainian website set up with the assistance of the Sports Committee that brings together NGOs and federations from non-Olympic sports. “Every day he brought Ukraine’s victory closer with a weapon in his hands, but he himself will not see it,” it wrote under a photograph of Bordus posing with several medals.
Business

Saudi Arabia’s Cybersecurity Gets Boost from New Cisco Data Center

RIYADH: Digital security in Saudi Arabia is set to be strengthened after global technology firm Cisco announced a new data center for the Kingdom to better protect users, infrastructure and investments. The facility will support the company’s cloud security services in Saudi Arabia, including its new Secure Service Edge solution, Cisco Secure Access. This product automates decisions about how users connect to the internet, Software as a Service products and private applications, a move which the firm claims helps increase productivity.
Business

Lifera by PIF: Boosting Pharma Manufacturing in the Kingdom

RIYADH: Saudi Arabia’s sovereign wealth fund on Sunday launched a commercial-scale contract development and manufacturing organization, Lifera, to help boost the local biopharmaceutical industry. The pharmaceutical investment company aims to focus on manufacturing life-saving and essential pharmaceutical products, including insulins, vaccines, plasma therapeutics, monoclonal antibodies, cell and gene therapies, and innovative small molecules, said an official statement. It seeks to bolster Saudi Arabia’s position as a global pharmaceutical manufacturing destination.
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