China Imposes New Export Controls, Deepening Japan Row

FILE PHOTO: A China yuan banknote featuring late Chinese chairman Mao Zedong and a computer keyboard are seen reflected on an image of Chinese flag in this illustration picture taken November 1, 2019.  REUTERS/Florence Lo/Illustration/File Photo
FILE PHOTO: A China yuan banknote featuring late Chinese chairman Mao Zedong and a computer keyboard are seen reflected on an image of Chinese flag in this illustration picture taken November 1, 2019. REUTERS/Florence Lo/Illustration/File Photo
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China Imposes New Export Controls, Deepening Japan Row

FILE PHOTO: A China yuan banknote featuring late Chinese chairman Mao Zedong and a computer keyboard are seen reflected on an image of Chinese flag in this illustration picture taken November 1, 2019.  REUTERS/Florence Lo/Illustration/File Photo
FILE PHOTO: A China yuan banknote featuring late Chinese chairman Mao Zedong and a computer keyboard are seen reflected on an image of Chinese flag in this illustration picture taken November 1, 2019. REUTERS/Florence Lo/Illustration/File Photo

China put 20 more Japanese organizations on a blacklist Monday over the export of items with both military and civilian possible uses, adding fuel to a months-long row with Tokyo.

The new additions, including major companies, "have participated in enhancing Japan's military capabilities", the Chinese commerce ministry said in a statement.

Japan's government spokesman Minoru Kihara called the measures "unacceptable and deeply regrettable" and said Tokyo had "lodged a strong protest and demanded that the measures be withdrawn."

The countries' have been at row since Japanese Prime Minister Sanae Takaichi suggested in November that Tokyo may react militarily to an attack on Taiwan, the self-ruled island Beijing has vowed to seize control by force if necessary.

China responded furiously, including by advising its citizens -- previously the biggest cohort of foreign tourists -- to avoid Japan.

Chinese authorities ramped up pressure in February by imposing export restrictions on dozens of Japanese firms it said were involved in building up Tokyo's military.

The 20 additions to the export blacklist named Monday include specialized subsidiaries and technology firms involved in supplying components and engineering support for Japan's defense sector.

Among them are the National Institute for Defense Studies and Mitsubishi Electric Defense and Space Technologies Corporation, the statement said.

China's commerce ministry said the controls require exporters to submit risk assessments and guarantees that dual-use items will not enhance Japanese military strength prior to making shipments.

Those named on the watchlist can apply to be removed by cooperating with "verification" procedures according to Chinese law, the ministry said.

China is the world's largest producer and refiner of rare earths, which are crucial for various high-tech products including electric vehicles, smartphones, missile guidance systems and lasers.

Japan has "strayed further down the wrong path, intensifying its push for a 'new form of militarism'", an unnamed commerce ministry spokesperson said in a statement on the latest measures.

- China-Russia patrols -

Since Takaichi took office in October, Japan has quickened its pivot towards a more proactive defense policy, further shaking off -- with US encouragement -- a pacifist outlook, which has been in place since the end of World War II.

Tokyo has loosened rules on exports of lethal weaponry and deepened military cooperation with other countries in the region at odds with China including the Philippines.

Japan and the United States, as well as many other countries, are seeking to curb dependence on China in rare earths, as Beijing increasingly uses its dominance for geopolitical leverage.

Japan on Monday also joined South Korea in criticizing joint flights by Chinese and Russian bombers and fighters over the weekend in the region.

Fellow US allies South Korea and Japan both scrambled fighter jets in response to the patrols by the convoy of around 15 aircraft on Saturday.

"This marks the 10th instance of such long-range activities by Chinese and Russian bombers in the vicinity of Japan since December last year," Japanese government spokesman Kihara said Monday.

Beijing's defense ministry said that the Chinese and Russian air forces conducted a "strategic air patrol" over the Sea of Japan, the East China Sea and the western Pacific Ocean, "demonstrating their determination and capability to jointly uphold regional peace and stability".

Tokyo last week also rejected Beijing's accusations that the Japanese military "harassed" a Chinese aircraft carrier strike group during 40 days of exercises in the Pacific.

 



Saudi Arabia Announces Entry into Classification Phase, Real Estate Advertising Is Conditional on FAL License

A panel discussion is held at the Real Estate Brokerage Forum in Riyadh. (SPA)
A panel discussion is held at the Real Estate Brokerage Forum in Riyadh. (SPA)
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Saudi Arabia Announces Entry into Classification Phase, Real Estate Advertising Is Conditional on FAL License

A panel discussion is held at the Real Estate Brokerage Forum in Riyadh. (SPA)
A panel discussion is held at the Real Estate Brokerage Forum in Riyadh. (SPA)

The Saudi government announced during the Real Estate Brokerage Forum, which concluded its activities Sunday in Riyadh, the entry into the real estate classification phase, and the upcoming release of two draft guides for classifying real estate brokerage and marketing establishments and real estate auction establishments through the "Istitlaa" platform.

This aims to develop standards that enhance the clarity of establishment data and raise the quality of practice with the participation of the sector and the public.

The event also witnessed the announcement that real estate advertising will be restricted exclusively to those licensed to practice real estate brokerage and marketing activity through the FAL license.

The event revealed that the number of sales and rental transactions registered since the Real Estate Brokerage Law came into effect in Saudi Arabia has reached more than 13 million transactions, with a total value exceeding 1.6 trillion riyals ($426.6 billion).

These indicators highlight the size of the market in which the system operates, as well as the importance of the licensed broker's role in regulating the relationship between parties, documenting transactions, and enhancing the clarity of practice and service quality.

These figures emerged as the Real Estate General Authority (REGA) concluded the activities of the third edition of the Real Estate Brokerage Forum, marking three years since the Real Estate Brokerage Law came into effect.

The event was held in the presence of Chief Executive Officer of the Authority Engineer Abdullah bin Saud Al-Hammad with the participation of a number of experts, specialists, real estate brokers, brokerage establishments, and individuals interested in the real estate sector.

The forum reviewed the indicators of real estate brokerage activity from the time the law came into effect until the end of last June; the total number of real estate brokerage licenses issued to individuals and establishments reached more than 117,000 licenses, and the number of brokerage contracts reached 1.1 million.

The number of real estate advertisements exceeded 1.2 million advertisements, reflecting the expanding scope of licensed practice and the growing presence of documentation and regulated advertising in the real estate market.

The main session discussed the most significant changes in the real estate market and the tools that enable brokers to keep pace with them, foremost of which are the development of rules and regulations, real estate technologies and artificial intelligence, and changing consumer behavior.

Discussions also tackled the developmental and investment transformations taking place in the Kingdom and their implications for the future of real estate brokerage.

The speakers stressed that real estate rules and regulations have contributed to building a clearer contractual environment that preserves the rights of transacting parties.

They noted that a broker's professionalism is linked to knowledge, speed of execution, compliance with regulations, and understanding the scope of work, projects, and markets in which they operate.

They also said that the advanced digital infrastructure in the Kingdom grants brokers more efficient tools to verify and analyze data and to develop the customer experience.

The forum witnessed the announcement of the real estate brokerage levels track aimed at building a gradual professional qualification journey that raises practitioner readiness and combines regulatory knowledge with applied skills.

The real estate rules and regulations diploma was announced, which is offered by the Saudi Real Estate Institute in cooperation with the Institute of Public Administration. It aims to prepare specialized legal and regulatory competencies that meet the needs of the sector.

A cooperation agreement was signed between the Saudi Real Estate Institute and King Saud University to launch the Real Estate Fellowship Program.

The forum included awareness workshops addressing anti-money laundering and the role of the Saudi Real Estate Arbitration Center in settling real estate disputes.

The forum concluded with honoring the winners of the Real Estate Awareness Award, which aims to stimulate initiatives and programs to enrich specialized real estate content.

The Real Estate Brokerage Forum is held annually in conjunction with the anniversary of the Real Estate Brokerage Law coming into effect. It brings together practitioners, establishments, platforms, and specialists to discuss the profession's updates, exchange experiences, and review tracks and enablers that support the development of practice and elevate the quality of real estate services.


Egypt Says Petrojet-ENPPI Chosen for Oman Project Portfolio Exceeding $6 Billion

The ministry said the ⁠deal was part ‌of Egypt's ‌strategy to support the expansion of ‌petroleum-sector companies abroad ‌and increase exports of engineering and technical services. (AFP)
The ministry said the ⁠deal was part ‌of Egypt's ‌strategy to support the expansion of ‌petroleum-sector companies abroad ‌and increase exports of engineering and technical services. (AFP)
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Egypt Says Petrojet-ENPPI Chosen for Oman Project Portfolio Exceeding $6 Billion

The ministry said the ⁠deal was part ‌of Egypt's ‌strategy to support the expansion of ‌petroleum-sector companies abroad ‌and increase exports of engineering and technical services. (AFP)
The ministry said the ⁠deal was part ‌of Egypt's ‌strategy to support the expansion of ‌petroleum-sector companies abroad ‌and increase exports of engineering and technical services. (AFP)

Egypt's petroleum ministry said on Sunday that a consortium of Petrojet and ENPPI had been selected for a six-year engineering, procurement and construction framework agreement with Petroleum Development Oman covering a portfolio of projects worth ‌more than $6 ‌billion.

The agreement ‌makes ⁠the consortium one ⁠of four global consortiums eligible to bid for projects within the portfolio, according to the ministry.

The ministry said the ⁠deal was part ‌of Egypt's ‌strategy to support the expansion of ‌petroleum-sector companies abroad ‌and increase exports of engineering and technical services.

The consortium is expected to support Oman's ‌in-country value targets through knowledge transfer, training Omani engineers, ⁠and ⁠increasing the participation of local companies and national supply chains, the ministry said.

The ministry said the agreement opened new horizons for partnership between Egypt and Oman in the energy sector.


Caspian Pipeline Consortium Oil Loadings Suspended After Drone Attacks on Tankers, CPC Says

The full moon rises in the background over the infrastructure on D Island, the main processing hub, at the Kashagan offshore oil field in the Caspian sea in western Kazakhstan August 21, 2013. (Reuters)
The full moon rises in the background over the infrastructure on D Island, the main processing hub, at the Kashagan offshore oil field in the Caspian sea in western Kazakhstan August 21, 2013. (Reuters)
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Caspian Pipeline Consortium Oil Loadings Suspended After Drone Attacks on Tankers, CPC Says

The full moon rises in the background over the infrastructure on D Island, the main processing hub, at the Kashagan offshore oil field in the Caspian sea in western Kazakhstan August 21, 2013. (Reuters)
The full moon rises in the background over the infrastructure on D Island, the main processing hub, at the Kashagan offshore oil field in the Caspian sea in western Kazakhstan August 21, 2013. (Reuters)

Two oil tankers were attacked at the Caspian Pipeline Consortium (CPC) terminal off Russia's Black Sea coast, CPC said on Sunday, adding that oil loadings are suspended.

The ASIA and NISSOS IOS ‌tankers were ‌attacked during loading operations, ‌CPC ⁠said.

The ASIA ⁠tanker caught fire, which was extinguished, it added.

"There were no injuries or fatalities amongst CPC staff or contractors. There was no oil ⁠spill," CPC said, adding ‌that ‌the tankers remained afloat.

CPC did not ‌identify any party as ‌responsible for the incident.

The past week has seen a sharp escalation in attacks by ‌both Russia and Ukraine on shipping in the Black ⁠and ⁠Azov seas.

The CPC is a 940-mile (1,510 km) oil pipeline connecting Kazakhstan's Caspian Sea oil deposits with Russia's Black Sea port of Novorossiysk. Oil loaded at Novorossiysk is then taken by tanker to world markets.

CPC accounts for about 80% of Kazakhstan’s oil exports.