Reopening of SABIC office in Iraq to benefit both sides: Experts

Petrochem giant Saudi Basic Industries Corporation (SABIC) says it is reopening its office in Iraq. (Photo courtesy of SABIC website)
Updated 07 December 2017
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Reopening of SABIC office in Iraq to benefit both sides: Experts

RIYADH: Petrochemical giant Saudi Basic Industries Corporation (SABIC) announced the reopening of its office in Iraq during the 7th Basra Oil and Gas Conference and Exhibition in the Iraqi city of Basra, which started on Tuesday.
SABIC participated in the event as part of a wider public and private sector delegation from Saudi Arabia, under the aegis of the Saudi Export Development Authority (SEDA). SABIC also seeks to explore opportunities available in the important Iraqi market.
Economic analyst and former Shoura Council member Usamah Kurdi told Arab News that SABIC re-opening its office in Iraq is a major development in the Saudi-Iraqi relations. “I am delighted to know that Saudi investments will be made in Iraq, which would yield lucrative benefits for the two parties,” he said.
“Taking Iraq into the fold of the Arab region will also help fortify unity of the Arab world and also protect it from the undue intervention of Iran. Iraq is part of the Arab world,” he stressed.
Saudi Energy Minister Khalid Al-Falih made the announcement following the inauguration of the oil and gas conference. He also witnessed the signing of 18 memorandums of understanding (MoU) between Saudi and Iraqi companies in the fields of energy, with his counterpart, Iraqi Oil Minister Jabbar Al-Luaibi.
Al-Falih said that SABIC is in the final stages of reopening its office in Iraq.
Musad Al-Zayani, a Dubai-based Saudi journalist who is an expert on the petrochemical industry, told Arab News that this move would boost the economy of Iraq, which needs a push. He said SABIC would be able to supply the needed raw materials to Iraq for its petrochemical industry. The SEDA seeks to promote trade between Saudi Arabia and Iraq and encourages Saudi companies to explore new opportunities to boost the Kingdom’s non-oil exports.
In a statement to Arab News, Dr. Talaat Al-Dhafer, SABIC vice president, KSA, Middle East and Africa region, who led the SABIC delegation, expressed his happiness over the company’s participation.
He said that SABIC was committed to contributing to the Kingdom’s efforts to diversify its economy.


ThePlace: The Prophet’s Mosque

Updated 26 May 2018
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ThePlace: The Prophet’s Mosque

  • King Abdul Aziz made the first improvements between 1950 and 1955
  • The end of 2013 saw the largest expansion in the mosque’s history

MADINAH: The Prophet’s Mosque Hundreds of thousands of worshippers performed the second Friday prayer at the Prophet’s Mosque during this holy month of Ramadan.
Visitors to Madinah are pleasantly surprised by the minarets of the Prophet’s Mosque, which are considered an Islamic architectural landmark and are visible throughout the city.
During the Prophet Muhammad’s time 1,400 years ago, the call to prayer was performed from the roof of the house closest to the mosque.
But Umayyad Caliph Al-Walid bin Abd Al-Malik ordered the construction of four minarets, one on each corner of the mosque, from where prayers would be called.
Since the establishment of Saudi Arabia, the mosque has undergone massive expansions to cater for the growing number of worshippers.
King Abdul Aziz made the first improvements between 1950 and 1955. The expansions continued between 1986 and 1993 when six minarets were added, raising the total to 10.
Four of them stand at the northern part of the mosque, five at the southeast corner and one at the southwest corner.
Each minaret consists of five floors, each with its own shape, height, diameter and decoration. The end of 2013 saw the largest expansion in the mosque’s history, its capacity increasing to 2 million worshippers.