German firm wins mega order to build olive oil mill in Saudi Arabia

German company GEA has won an order to build a massive olive oil mill in Saudi Arabia that will be the largest in Asia. (Shutterstock)
Updated 19 March 2019
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German firm wins mega order to build olive oil mill in Saudi Arabia

  • Scope of project, located in Al-Jouf, expected to encompass 5 million olive trees
  • Saudi Arabia investing heavily in developing domestic food industry

LONDON: A German company has won an order to build a massive olive oil mill in Saudi Arabia that will be the largest in Asia.
GEA won the order from The National Agricultural Development Company (NADEC), one of the largest agricultural and food-processing companies in the Middle East.
The scope of the project, located in the region of Al-Jouf, is expected to encompass 5 million olive trees from a single farm of 3,000 hectares, GEA said in a statement on Tuesday.
“Once the construction process is completed, this facility will be largest and most modern olive oil mill in Asia,” said Rafael Cárdenas, head of the Center of Excellence for Olive Oil at GEA.
Gulf states including Saudi Arabia, the region’s largest economy, are investing heavily in developing their domestic food industries in an effort to reduce their reliance on imports and boost their food security.
The contract to build the Al-Jouf olive oil mill is the second phase of an ongoing project and will enlarge the existing olive oil plant that was built in 2016.
Al-Jouf Agriculture Development Company is the largest modern olive farm in the world.


Twitter triples first-quarter profit to $191 million

Updated 23 April 2019
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Twitter triples first-quarter profit to $191 million

  • Profits in the first quarter hit $191 million, compared with $61 million a year earlier
  • The longstanding metric of monthly active users was 330 million in the January-March period

WASHINGTON: Twitter said Tuesday its profits tripled in the past quarter even as it ramped up efforts to root out abuse and misconduct on its short messaging platform.
Profits in the first quarter hit $191 million, compared with $61 million a year earlier, while revenues increased 18 percent to $787 million.
Twitter’s global user base appeared to show modest growth even as the company transitions to a different way of measuring it.
The longstanding metric of monthly active users was 330 million in the January-March period, an increase of nine million from the past quarter but down slightly from a year ago.
But Twitter no longer will use that measure, switching instead to “monetizable” daily active users — 134 million in the past quarter, up from 120 million last year.
Chief executive Jack Dorsey said Twitter is benefiting from its moves to root out abusive and inauthentic content that had hurt Twitter’s reputation.
“We are taking a more proactive approach to reducing abuse and its effects on Twitter,” said Dorsey.
“We are reducing the burden on victims and, where possible, taking action before abuse is reported.”
He added that Twitter aims to become “more conversational” and has launched a prototype for a new app called “twttr,” with the goal of “making conversation on Twitter feel faster, more fluid and more fun.”