Sino-Saudi synergy to create huge opportunities, says Aramco chief

Amin H. Nasser, president and chief executive officer of Saudi Arabian Oil Company (Saudi Aramco), speaks at the China Development Forum in Beijing, China, on Sunday. (Reuters)
Updated 19 March 2017
0

Sino-Saudi synergy to create huge opportunities, says Aramco chief

BEIJING: The long-standing ties between Saudi Arabia and China can be further amplified with a host of new business and economic opportunities ranging from energy collaboration, knowledge and technology transfer, as well as innovation-driven industries, said Amin Nasser, Saudi Aramco president and chief executive officer.
He was speaking at the China Development Forum (CDF) 2017 in Beijing on Sunday, according to a statement issued to the media.
Highlighting various opportunities for mutual growth, Nasser said that Saudi Arabia provides China’s defining strategic economic initiatives with an ideal platform for prosperous trade between the Middle East and Asia, providing the vital trade link to other regions surrounding the two. “Chinese companies can benefit from the Kingdom’s strategic location on the Maritime Silk Road by establishing manufacturing and logistical bases. From there, they can easily access large markets in the Middle East North Africa (MENA) region, all the way up to Europe and they can also easily access the Kingdom’s vast energy resources and supply of petrochemicals,” he said.
The Saudi Aramco chief also signed of two memoranda of understanding (MOUs) with China North Industries Corporation (Norinco Group) and Aerosun Corporation. The MoU with Norinco enables further strategic cooperation and downstream investment opportunities in China, which include the development of a refinery and chemical facilities. The MoU with Aerosun involves manufacturing of reinforced thermoplastic (RTP) pipe as well as research and development.


Ryanair’s Irish union extends vote on possible strike action

Updated 31 min 24 sec ago
0

Ryanair’s Irish union extends vote on possible strike action

DUBLIN: Ryanair’s Irish union extended a ballot on industrial action by two weeks on Tuesday, saying its members wanted more time to consider the move, which could lead to a strike.
Europe’s biggest budget airline averted widespread strikes before last Christmas by agreeing to recognize trade unions for the first time in its 32-year history.
But the airline, which operates in 37 countries and last year carried some 130 million passengers, has since struggled to reach agreement on terms in some countries.
This has led to minor disruption in Germany and Portugal and the Irish Air Line Pilots’ Association (IALPA) said it would ballot pilots if a new system for dealing with base allocations, promotions, and leave was not introduced.
IALPA began the ballot last week, a letter to members seen by Reuters on Monday showed and the results were due on Tuesday.
However, a memo circulated by IALPA later on Monday said it had extended the vote to July 3, giving pilots more time to consider “such an important matter” and avoiding a clash with a meeting of Ryanair’s unions across Europe organized by the European Cockpit Association.
“It is self-evident that Ryanair and its on-going disputes with pilots across Europe will be a feature on the agenda of the ECA Conference,” it said.
A spokesman for Ryanair, which this month signed its first cabin crew union recognition agreements with staff in Italy and Britain, was not immediately available for comment.