SAOGE focuses on oil and gas industry's progress

Updated 22 November 2015
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SAOGE focuses on oil and gas industry's progress

DAMMAM: The 7th edition of the Saudi International Oil and Gas Exhibition (SAOGE) opens at the Dhahran International Exhibition Center in Dammam on Monday. The three-day expo is being held with the support of Eastern Province Gov. Prince Saud bin Naif.
Dhahran Expo CEO Mohammed bin Hamad Al-Hussaini said: "We are extremely proud for this honor that Prince Saud is extending to SAOGE 2015; this is a further award to the ever-increasing importance of SAOGE as the best-attended and premier oil and gas exhibition in Saudi Arabia".
The three-day show aims to highlight the development of products in the oil and gas industry, which has taken a pivotal position in the Saudi economy, compared to other commercial industries in the Kingdom, and to other countries that do not have the hydrocarbon raw material, the official said.
He said that gas and oil are the basic raw materials for the manufacturing and consuming industries, in addition to being a key material in the production of a myriad of other chemicals.
He said the Eastern Province (EP) ranked first in the manufacturing materials industry and in the number of factories specialized in those industries, which require the identification of appropriate opportunities to develop the sector, and identify how to increase its products, without direct dependence on raw materials, but the resulting industries.
The SAOGE, which attracts the oil and manufacturing industries’ major investors, will include many contributions and offers from key industry professionals to review the most prominent developments, the new global research and studies in the field of oil industries, its development and protection under the current circumstances, Al-Hussaini added.
The exhibition is an important linking point for companies, distributors and suppliers in the oil sector. It aims at promoting investment by attracting more capital that will contribute in the launch of many projects in the most important national industry sectors in the EP.
Moreover, SAOGE will review through its activities the latest products in the oil industry, the major challenges facing the sector, in addition to many of the solutions that have contributed to raising the level of performance and improve the related services.


EU launches in-depth probe on Amazon over data use

Updated 3 min 48 sec ago
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EU launches in-depth probe on Amazon over data use

  • Formal investigation opens a new chapter in the EU’s campaign to address the dominance of US tech firms
  • At the heart of the case is Amazon’s service to third party merchants

BRUSSELS: The EU’s powerful antitrust authority launched an in-depth investigation into Amazon on Wednesday, amid suspicions the US-based online behemoth misuses merchant data hosted on its website.
The formal investigation opens a new chapter in the European Union’s campaign to address the dominance of US tech firms with Google, Facebook and Apple also regular targets of regulators in Brussels.
With its probe, the EU competition watchdog is seeking to expand its oversight powers to data, the most prized asset for Silicon Valley giants that now dominate web-use worldwide.
“I have ... decided to take a very close look at Amazon’s business practices and its dual role as marketplace and retailer (and) to assess its compliance with EU competition rules,” the EU’s anti-trust commissioner Margrethe Vestager said in a statement.
At the heart of the case is Amazon’s service to third party merchants who use the world’s biggest online retailer to access customers and broaden their reach.
In providing this service, Amazon “continuously collects data about the activity on its platform,” the commission said.
Preliminary findings, according to the statement, indicate that Amazon “appears to use competitively sensitive information — about marketplace sellers, their products and transactions on the marketplace.”
The opening of a formal investigation procedure does not prejudge its outcome, but if fault is found the sanctions by the EU can reach up to 10 percent of sales.
“The stakes for the digital economy are high, because any action by the Commission can have an impact on the business model of web giants, which is based on data accumulation,” said Andrea Collart, of the consulting firm Avisa in Brussels.
The investigation, which has no deadline, is likely to be the final offensive by Vestager against big tech before the end of her current mandate on October 31.
In an email to AFP, Amazon said: “We will cooperate fully with the European Commission and continue working hard to support businesses of all sizes and help them grow.”
The probe adds to Vestager’s long list of cases against US Big Tech.
During her five-year term, Brussels has slapped Google with a combined $9.5 billion in antitrust fines and scrutinized Apple and Facebook for breaches of competition, tax and data rules.
Amazon in 2017 was ordered to pay back taxes of about €250 million to Luxembourg because of illegal tax breaks.
The company also settled with Brussels over its distribution deals with e-book publishers in Europe.