Al-Qassabi wants GCC to guard against certain steel imports

Updated 19 June 2016
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Al-Qassabi wants GCC to guard against certain steel imports

RIYADH: Minister of Commerce and Investment Majid Al-Qassabi has commended the joint action taken by the Gulf Cooperation Council (GCC) countries to safeguard against importing flat-rolled products of iron and non-alloy steel into the region.
Recently, the GCC unanimously decided to safeguard against the increasing import of flat-rolled products of iron and non-alloy steel into the region.
The case was first reported to the WTO (World Trade Organization) under the unified law of anti-dumping, compensatory and safeguard measures, which announced on the official website of the organization.
Al-Qassabi, who is the chairman of the current session of the Trade Cooperation Committee of the GCC, stressed that the Kingdom in cooperation with the GCC countries has played a significant role and worked very hard over the past years on the completion of unified law approvals and its amendments. “All that to combat the harmful practices to the international trade,” he added.
The minister said his ministry was keen to activate this important law under the understanding of its effect on trading performance, which decrease damages and unfair practices on Saudi Arabia and Gulf manufacturers and industries.
He praised the group initiative of the GCC countries to continue opening investigations to combat unfair practices in international trade and currently investigating GCC markets dumping. He pointed out that it is a sign of GCC countries unity in fair trade and combat against international trade harmful practices that affect the manufacturers.
“These efforts are clear evidence of the desire of the ministers of commerce in the GCC countries to eliminate the damages affecting the manufacturers along with current and new industries. And no doubt that it will protect the GCC markets, leading to a localizing the investments which correspond to the Saudi Vision 2030.”
The minister explained that the collective processing of high-priority issues for the GCC countries, in line with policies of strengthening the Customs Union.
Al-Qassabi said that the current situation was a result of a teamwork effort from all the GCC countries over many years, during which some meetings held under the umbrella of the General Secretariat of the Gulf Cooperation Council.

Nowadays, he added that the GCC countries are harvesting the fruits of the unified system which considered a great historical achievement, and hopefully to continue to do so in the short and medium term.


Apple to build new $1 billion campus in Austin

Updated 13 December 2018
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Apple to build new $1 billion campus in Austin

  • Apple Inc. said it would spend $1 billion to build a second campus in Austin, Texas
  • Apple will also set up sites in Seattle, San Diego and Culver City, California

NEW YORK: Apple Inc. said on Thursday it would spend $1 billion to build a second campus in Austin, Texas that will house as many as 15,000 workers, amid a broader push by many US companies to create more jobs at home.
The iPhone maker had announced at the start of the year it would invest $30 billion in the United States, taking advantage of a tax windfall stemming from US President Donald Trump’s sweeping tax reforms.
The 133-acre campus in Austin will employ workers across various functions including engineering, R&D, operations and finance. The city is already home to the second largest number of Apple employees outside its headquarters in Cupertino, California.
Apple will also set up sites in Seattle, San Diego and Culver City, California and hire over 1,000 employees each in these locations, while also expanding operations in Pittsburgh, New York and Boulder, Colorado over the next three years.
Many American multinationals have been facing political pressure to ramp up investments at home as part of Trump’s “America First” policies, which have left the United States embroiled in a bitter trade war with China. The president has also warned of tariffs on iPhones and other Apple products imported from China.
Apple’s technology rival Amazon.com Inc. last month ended a months-long search for its second headquarters, picking New York City and an area just outside Washington, D.C. for massive new offices, with plans to create thousands of jobs.
The new Austin campus will be located less than a mile away from Apple’s existing facilities, and will first house 5,000 new employees with the capacity to expand to 15,000.
The company, which last year moved into its sleek “spaceship” campus in Cupertino, said jobs at the new Austin center would include engineering, research and development, finance and sales functions.