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Articles for tag: 10bn, Chinese, diplomatic, firm, Govt, green, Launches, project, push, refinery, Riyadh, win

January 22, 2024

News Desk

Govt launches diplomatic push to win over Riyadh, Chinese firm for $10bn green refinery project

Pakistan’s envoy in Riyadh has asked to approach the authorities to facilitate the project’s progress, a source said An Aramco employee walks near an oil tank at a Saudi Aramco oil refinery and oil terminal in Saudi Arabia. — Reuters/File FO also asked to help pursue Sinopec in China. SIFC awarded FO after PSO failed to convince Aramco, Sinopec. Pakistan has announced a new green refinery policy in line with Saudi Arabia’s wishes. ISLAMABAD: Islamabad has launched a diplomatic push to win over Saudi Arabia (KSA) and Chinese company Sinopec, known for setting up refineries, to set up the state-of-the-art

January 17, 2024

News Desk

Pakistan agrees with Riyadh, Doha to resort to international investment arbitration

Pakistan has negotiated to include a phased approach to settling investment disputes, sources say Caretaker Prime Minister Anwaar-ul-Haq Kakar presides over a SIFC meeting in Islamabad. — APP/File The domestic forums will be given 8 months to provide a solution. In the event of no resolution, Doha and Riyadh may approach the PCA/ICSID. SIFC approves in principle the establishment of Nidra. ISLAMABAD: Pakistan has agreed to allow the Kingdom of Saudi Arabia and Qatar to approach the Permanent Court of Arbitration (PCA) or the International Center for Settlement of Investment Disputes (ICSID) if they face any problem in the multi-billion

December 31, 2023

News Desk

The Turkish Super Cup final in Riyadh has been postponed

CONSTANTINOPLE: The Turkish Super Cup final between Galatasaray and Fenerbahce scheduled for Friday in the Saudi capital Riyadh was postponed due to what the clubs described as “some problems” in organizing the event. At the heart of these issues, according to media reports, was the desire of the two Istanbul teams to wear shirts featuring the founder of modern Turkey, Mustafa Kemal Ataturk, during the warm-up ahead of the evening kick-off. Turkish media reported that Saudi officials had rejected that demand, although it was not clear why, and that the clubs had refused to play the Super Cup final at

December 30, 2023

News Desk

The final of the Turkish Super Cup has been postponed after the row in Riyadh

Both Turkish teams intended to honor Mustafa Kemal Atatürk, the founder of modern Turkey, by wearing jerseys with his image King Saud University Stadium, popularly known as Alawal Park. — AFP The much-anticipated final of the Turkish Super Cup, which was set to fire up Riyadh with the rivalry between Galatasaray and Fenerbahce, faced an abrupt postponement due to a heated dispute over shirt symbols deemed “political slogans” by the Saudi organizers. Originally scheduled to electrify the Saudi capital on Friday, the clash between the Turkish giants was abruptly called off, as announced by Saudi sports channel SSC, citing undisclosed

December 25, 2023

News Desk

Cristiano Ronaldo’s awkward encounter with Conor McGregor at a boxing event in Riyadh has gone viral

Cristiano Ronaldo visibly uncomfortable with incessant chatter from Irish MMA champion Conor McGregor Conor McGregor tries to talk to Cristiano Ronaldo in Riyadh.—TNT Sports Soccer legend Cristiano Ronaldo and mixed martial arts icon Conor McGregor had an awkward interaction at a boxing match in Riyadh that has since become a viral sensation. The star-studded Kingdom Arena hosted the highly anticipated fights between Anthony Joshua, Otto Wallin, Deontay Wilder and Joseph Parker, drawing attention to the celebrities in attendance. A video circulating on social media captures the moment McGregor engages in an animated conversation with someone on the other side of

December 15, 2023

News Desk

Will Mohamed Salah join Cristiano Ronaldo in the Riyadh Season Cup?

“Salah is a player you want in your league, in any league,” says Saudi Pro League official Mohamed Salah (left) and Portugal’s Cristiano Ronaldo. — AFP/File Liverpool star Mohamed Salah is not expected to play in the Riyadh Season Cup scheduled to be held in January 2024, despite several clubs showing interest in him. According to the reports, the Egypt icon – who reached 200 goals at Liverpool – has been targeted by different teams in the region during the 2023 summer transfer window, with bids of around £150 million ($192 million) submitted. However, no deal has been struck, with

November 21, 2023

News Desk

Beijing and Riyadh sign currency swap agreement

BEIJING: The People’s Bank of China and Saudi Arabia’s Central Bank recently signed a local currency swap deal worth 50 billion yuan ($6.93 billion), or 26 billion Saudi riyals, both banks said on Monday, as bilateral relations continued to are reinforced. Saudi Arabia, the world’s top oil exporter, and China, the world’s biggest energy consumer, have worked to advance relations beyond hydrocarbon ties in recent years, expanding cooperation in areas such as security and technology. The swap agreement, which will be valid for three years and can be extended by mutual agreement, “will help to strengthen economic cooperation… expand the

November 5, 2023

News Desk

Riyadh asks Islamabad to approach China’s Sinopec for $10 billion green refinery project

Pumpjacks are seen during sunset at the Daqing oil field in China’s Heilongjiang province, August 22, 2019. — Reuters Riyadh wants the EPC contract to be given to Sinopec. The Petroleum Directorate asked to evaluate Sinopec’s investment interest. SIFC requests the department to facilitate the Chinese company if it is interested. Islamabad: Saudi Arabia has asked Islamabad to approach China’s Sinopec and make it part of the $10 billion green refinery to be set up in Pakistan, it said The news on Sunday. “We have announced and communicated the new green refinery policy with incentives of 7.5% deemed duty for

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