Saudi investments in Britain reach 60 billion pounds

Majid bin Abdullah Al-Qassabi
Updated 23 July 2016
0

Saudi investments in Britain reach 60 billion pounds

LONDON: There are huge Saudi investments in the UK and they amount to nearly 60 billion pounds, according to Minister of Commerce and Investment Majid bin Abdullah Al-Qassabi.
The minister made the remark following participation in the work of the second Gulf-British Economic Forum, organized by the Arab-British Chamber of Commerce, in London.
In a statement to Saudi Press Agency (SPA, he lauded the bilateral commercial ties and pointed out that the official Arab and British attendance at the forum indicates the status of importance that both sides attach to the development of cooperation, in various trade and investment fields.
He explained that Britain is a historical friend and ally of the states of the region and there must be concerted efforts to discuss the opportunities and challenges that contribute to the development of investment bridges between the two sides, especially after Britain's decision to leave the European Union (EU).
Referring to the large expansion that has occurred in trade and investment cooperation between the Gulf and Britain in education, defense and other investment activities, the minister noted that Saudi investments in the UK are huge and the Kingdom's participation in such and other international forums is due to the government of the Custodian of the Two Holy Mosques King Salman, which has adopted policies that encourage marketing and investment opportunities. This is in line with Saudi Vision 2030, the minister added.
He mentioned that Saudi investments in the UK amounted to nearly 60 billion pounds in various domains.


Iraq restarts small Kirkuk oil exports after a year of suspension

Updated 16 November 2018
0

Iraq restarts small Kirkuk oil exports after a year of suspension

  • The flows resumed on Friday at a modest level of around 50,000-60,000 barrels per day

LONDON: Iraq has restarted exports of Kirkuk oil, interrupted more than a year ago amid a standoff between the central government in Baghdad and Kurdistan’s semi-autonomous region, industry sources said on Friday.
The development is a win for the US government which has been putting pressure on both sides to settle the dispute and resume flows to help address a shortage of Iranian crude in the region after Washington imposed new sanctions on Tehran.
The flows resumed on Friday at a modest level of around 50,000-60,000 barrels per day versus peak levels of 300,000 observed during some months of 2017 and it was not clear when and by how much they will rise, sources said.