Cyprus slams Houthi missile attacks on Saudi Arabia

Updated 26 April 2018
0

Cyprus slams Houthi missile attacks on Saudi Arabia

  • Syllouris condemned the repeated terrorist attacks by Houthi militia in Yemen
  • Syllouris pointed out that the Kingdom under King Salman is a wise country leading the Arab and Islamic world

JEDDAH: The Speaker of Parliament in Cyprus, Demetris Syllouris, has condemned the repeated terrorist attacks carried out by Houthi militias using ballistic missiles on Saudi Arabia’s territories and targeting its civilian facilities and populated cities.

This came during a meeting with the delegation of the Shoura Council headed by Vice-Chairman of the Saudi-Cypriot Parliamentary Friendship Committee Ali bin Abdullah Al-Naim, who concluded their visit to Cyprus on Tuesday.

Syllouris pointed out that the Kingdom under King Salman is a wise country leading the Arab and Islamic world with prudence toward stability, prosperity, tolerance and moderation.

The minister of Energy, Commerce, Industry and Tourism, who is also Cyprus’ acting minister of Foreign Affairs, Yiorgos Lakkotrypis, supported the steps being taken by the Arab coalition forces led by the Kingdom in combating terrorism and protecting its territory from whoever tries to harm its security.

He expressed his country’s keenness to strengthen relations with the Kingdom, citing the positive results of the visit by President Nicos Anastasiades of Cyprus to Riyadh last January.


Tenaris acquires 48% stake in Saudi Steel Pipe

Updated 15 min 38 sec ago
0

Tenaris acquires 48% stake in Saudi Steel Pipe

  • Tenaris has acquired a 47.79% of the shares of Saudi Steel Pipe Company (SSP)
  • Tenaris will begin consolidating SSP’s results as from January 21, 2019

JEDDAH: Global tube manufacturer and supplier Tenaris has acquired a 47.79% of the shares of Saudi Steel Pipe Company (SSP), for approximately US$141 million.

SSP, a welded steel pipes producer listed on the Saudi stock market, has facilities in the Eastern Province in Saudi Arabia, with a manufacturing capacity of 360,000 tons per year.

Mariano Armengol, the CEO of the Luxembourg based company, will become the Managing Director and CEO of the Saudi company.

Tenaris will begin consolidating SSP’s results as from January 21, 2019, the company said in a statement.

The acquisition means Tenaris expects to expand its industrial presence in Saudi Arabia, one of the largest markets for oil pipes.