China Slams US for Adding Firms to Export Control List

Dark clouds loom over the city in Beijing on August 23, 2024. (Photo by ADEK BERRY / AFP)
Dark clouds loom over the city in Beijing on August 23, 2024. (Photo by ADEK BERRY / AFP)
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China Slams US for Adding Firms to Export Control List

Dark clouds loom over the city in Beijing on August 23, 2024. (Photo by ADEK BERRY / AFP)
Dark clouds loom over the city in Beijing on August 23, 2024. (Photo by ADEK BERRY / AFP)

China's Ministry of Commerce said on Sunday it strongly opposed a US decision to add multiple Chinese entities to its export control list over Russia-related issues.

The United States on Friday added 105 Russian and Chinese firms to a trade restriction list over their alleged support of the Russian military.

The companies - 42 Chinese, 63 Russian and 18 from other countries - were targeted for reasons from sending US electronics to Russian military-related parties to producing thousands of Shahed-136 drones for Russia to use in its invasion of Ukraine.

US suppliers must get difficult-to-obtain licenses in order to ship to companies on the "entity list,” as it is called.

China's ministry said the US action disrupts the international trade order and hinders normal economic exchanges, adding China would take necessary measures to resolutely safeguard the legitimate rights of its companies.



Saudi Real Estate Refinance Company, BlackRock to Promote Developing Programs in Saudi Real Estate Finance Market

The agreement was signed by SRC CEO Majid Fahd Al-Abduljabbar and General Manager of BlackRock in the Middle and CEO of BlackRock Saudi Arabia Yazeed Al-Mubarak. BlackRock President Robert Capito attended the signing ceremony. (SPA)
The agreement was signed by SRC CEO Majid Fahd Al-Abduljabbar and General Manager of BlackRock in the Middle and CEO of BlackRock Saudi Arabia Yazeed Al-Mubarak. BlackRock President Robert Capito attended the signing ceremony. (SPA)
TT

Saudi Real Estate Refinance Company, BlackRock to Promote Developing Programs in Saudi Real Estate Finance Market

The agreement was signed by SRC CEO Majid Fahd Al-Abduljabbar and General Manager of BlackRock in the Middle and CEO of BlackRock Saudi Arabia Yazeed Al-Mubarak. BlackRock President Robert Capito attended the signing ceremony. (SPA)
The agreement was signed by SRC CEO Majid Fahd Al-Abduljabbar and General Manager of BlackRock in the Middle and CEO of BlackRock Saudi Arabia Yazeed Al-Mubarak. BlackRock President Robert Capito attended the signing ceremony. (SPA)

The Saudi Real Estate Refinance Company (SRC), a subsidiary of the Public Investment Fund, signed a memorandum of understanding (MoU) with the US BlackRock conglomerate in New York City, to develop programs in the real estate finance market in Saudi Arabia, and increase the share of businesses in the real estate sector capital markets.

The MoU was signed on the sidelines of the official visit of Saudi Minister of Municipalities and Housing, Majid bin Abdullah Al-Hogail who is also SRC Board of Directors chairman.

The minister and his accompanying delegation are in the US to discuss ways to boost Saudi-American partnerships in the urban development, construction, building, finance and real estate development sectors.

The agreement was signed by SRC CEO Majid Fahd Al-Abduljabbar and General Manager of BlackRock in the Middle and CEO of BlackRock Saudi Arabia Yazeed Al-Mubarak. BlackRock President Robert Capito attended the signing ceremony.

The MoU aims to accelerate the development of programs in the real estate refinancing market in Saudi Arabia and expand through local and international capital market channels.

It also seeks to diversify funding sources through fixed income markets, which is bound to increase the stability of the real estate finance market and contribute to achieving the goals of the housing and financial sector development programs, which serve as enablers of the Kingdom’s Vision 2030.