Greek Prime Minister: We Have a Strategic Relationship with Gulf States

Saudi Crown Prince Mohammed bin Salman and the prime minister of Greece in Riyadh on Tuesday. (SPA)
Saudi Crown Prince Mohammed bin Salman and the prime minister of Greece in Riyadh on Tuesday. (SPA)
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Greek Prime Minister: We Have a Strategic Relationship with Gulf States

Saudi Crown Prince Mohammed bin Salman and the prime minister of Greece in Riyadh on Tuesday. (SPA)
Saudi Crown Prince Mohammed bin Salman and the prime minister of Greece in Riyadh on Tuesday. (SPA)

Greek Prime Minister Kyriakos Mitsotakis stressed that his country’s relations with Saudi Arabia and the Gulf were strategic, pointing to common geopolitical challenges.

He emphasized that his government’s foreign policy priority was to establish solid ties with the Gulf, saying: “We have now entered into a strong strategic relationship, as we share many common economic and social factors.”

Mitsotakis’ remarks came during a dialogue session on Tuesday at the Future Investment Initiative forum, in the presence of Saudi Crown Prince Mohammed bin Salman, and Crown Prince of Bahrain Sheikh Salman bin Hamad Al Khalifa.

The premier touched on the agreements signed by his country with France and the United States, as well as efforts to provide oil and gas to Europe through Greece.

Moreover, he also stressed that Cyprus’ alliance with Egypt and Israel does not pose a threat to Turkey, saying: “We have security and there are no threats in the eastern Mediterranean. We have alliances and we are joining alliances clearly, and I hope at some point Turkey will have a positive engagement with us.”

“All outstanding problems with Egypt and Italy have been resolved in accordance with international law… We are open to dialogue and will not compromise our interests,” he added.

Abdullah Al-Sawaha, Saudi Minister of Communications and Information Technology, said the Kingdom has made great strides towards digital and knowledge economy, especially during its presidency of the G20.

“We are turning to digital transformation in order to protect the planet and empower people. We are working with global innovators and taking advantage of satellite images and artificial intelligence to reduce carbon emissions and preserve the environment,” the minister said during Tuesday’s session.

Nadhmi Al-Nasr, CEO of NEOM, said that the giant project, launched by the Saudi Crown Prince in 2016, was rolling at a fast pace.

“There was a vision for NEOM, and the mission was clear to turn the dream into a reality. We took over the task and then continued the journey to introduce NEOM in different ways. NEOM is basically found to be an independent economy that will rely on 16 sectors, and will have its own laws and legislation,” he said.

Al-Nasr added that nine years were left to translate the NEOM project into reality. This is a task that requires great efforts, as he described it.

“One day we will surprise the world with happy news that NEOM is operating faster than we expected,” he remarked.



China Widens Foreign Investment Incentive List to Stem Falling Inflows

People visit a shopping center in Beijing on December 20, 2025. (AFP)
People visit a shopping center in Beijing on December 20, 2025. (AFP)
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China Widens Foreign Investment Incentive List to Stem Falling Inflows

People visit a shopping center in Beijing on December 20, 2025. (AFP)
People visit a shopping center in Beijing on December 20, 2025. (AFP)

China on Wednesday listed more sectors eligible for foreign investment incentives, from tax breaks to preferential ​land use, in its latest effort to stem a prolonged decline in overseas capital inflows.

Under the 2025 edition of the catalogue of industries for encouraging foreign investment, China added more than 200 and revised about 300, with a ‌focus on ‌advanced manufacturing, modern services and ‌green ⁠and ​high-tech ‌sectors, the list jointly issued by the National Development and Reform Commission and the commerce ministry showed.

The new catalogue, which takes effect on February 1, 2026, replaces the 2022 version and continues a policy framework ⁠that offers foreign-invested enterprises tariff exemptions on imported equipment, preferential ‌land pricing, reduced corporate income ‍tax rates in ‍designated regions and tax credits for reinvestment ‍of profits.

The catalogue also extends incentives to central and western regions, as well as the northeast and Hainan, as Beijing seeks to attract ​more foreign investment into less developed areas.

China has in recent months ⁠taken a raft of measures to boost foreign investment, including pilot programs in Beijing, Shanghai and other regions to expand market access in services such as telecoms, healthcare and education, amid trade tensions with the United States.

Foreign direct investment in China totaled 693.2 billion yuan ($98.84 billion) from January to November this year, down 7.5% from the ‌same period last year, data from the commerce ministry showed.


Environment Ministry Launches Saudi Citrus Season with Production Exceeding 158,000 Tons

The citrus production season in the Kingdom begins in July and continues through March each year. (SPA)
The citrus production season in the Kingdom begins in July and continues through March each year. (SPA)
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Environment Ministry Launches Saudi Citrus Season with Production Exceeding 158,000 Tons

The citrus production season in the Kingdom begins in July and continues through March each year. (SPA)
The citrus production season in the Kingdom begins in July and continues through March each year. (SPA)

The Saudi Ministry of Environment, Water and Agriculture launched on Wednesday the Kingdom’s citrus season in local markets as part of its efforts to support and develop the agricultural sector and enhance food security in the country, in line with the Saudi Vision 2030.

The is part of the ministry’s ongoing efforts to support national agricultural products, raise awareness of citrus varieties and their nutritional benefits and production areas, and highlight their year-round diversity across production seasons.

These efforts help in improving marketing efficiency, boost competitiveness, and achieve rewarding economic returns.

Citrus fruits are among the most widely cultivated crops in the Kingdom. They are grown in several regions that produce a variety of citrus types, most notably lemons, oranges, mandarins, grapefruit, citron, and kumquats.

The ministry said lemon production leads Saudi citrus output, with total production exceeding 123,000 tons and more than 1.5 million fruit-bearing trees. Orange production follows, with total output reaching 35,700 tons and more than 397,000 fruit-bearing trees.

The citrus production season in the Kingdom begins in July and continues through March each year, it added.

The ministry said the Saudi citrus season has been launched with a number of major retail markets across the Kingdom showcasing local products through innovative packaging and display methods. This boosts the quality and reliability of local products and increases consumer demand during production seasons.


SLB Awarded 5-Year Contract to Stimulate Unconventional Gas in Saudi Arabia

SLB has been awarded a five-year contract by Saudi Aramco to provide stimulation services for its unconventional gas fields. (Asharq Al-Awsat)
SLB has been awarded a five-year contract by Saudi Aramco to provide stimulation services for its unconventional gas fields. (Asharq Al-Awsat)
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SLB Awarded 5-Year Contract to Stimulate Unconventional Gas in Saudi Arabia

SLB has been awarded a five-year contract by Saudi Aramco to provide stimulation services for its unconventional gas fields. (Asharq Al-Awsat)
SLB has been awarded a five-year contract by Saudi Aramco to provide stimulation services for its unconventional gas fields. (Asharq Al-Awsat)

Global technology company, SLB, has been awarded a five-year contract by Saudi Aramco to provide stimulation services for its unconventional gas fields, the company said in a statement on Tuesday.

The move is part of a broader multi-billion contract, supporting one of the largest unconventional gas development programs globally, it said.

The contract encompasses advanced stimulation, well intervention, frac automation, and digital solutions, which are important to unlocking the potential of Saudi Arabia’s unconventional gas resources - a cornerstone of the Kingdom’s strategy to diversify its energy portfolio and support the global energy transition.

“This agreement is an important step forward in Aramco’s efforts to diversify its energy portfolio in line with Vision 2030 and energy transition goals,” said Steve Gassen, SLB executive vice president.

“With world-class technology, deep local expertise, and a proven track record in safety and service quality, SLB is well positioned to deliver tailored solutions that could help redefine operational performance in the development of Saudi Arabia’s unconventional resources,” he added.

These solutions provide the tools to work toward new performance benchmarks in unconventional gas development.

SLB is a global technology company that drives energy innovation for a balanced planet.

With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, it works on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition.