DIRS.INFO The most relevant business & tech news

Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERSWASHINGTON, Nov 18 (Reuters) - The Biden administration ruled on Thursday that Saudi Arabian Crown Prince Mohammed bin Salman has immunity from a lawsuit over the murder of Jamal Khashoggi, drawing immediate condemnation from the slain journalist's former fiancee. In late September, Saudi King Salman named Prince Mohammed prime minister in a royal decree which a Saudi official said was in line with responsibilities that the crown prince was already exercising. FIST-BUMPBiden was criticized for fist-bumping the crown prince on a visit to Saudi Arabia in July to discuss energy and security issues. The White House said Biden had told Prince Mohammed that he considered him responsible for Khashoggi's killing. In a highly charged global atmosphere, the United States is keen to prevent its long-time ally from further distancing itself.

[1/2] Crown Prince of Saudi Arabia, Mohammed bin Salman is pictured during his meeting with South Korea's President Yoon Suk-yeol in Seoul, South Korea, November 17, 2022. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERSNov 17 (Reuters) - The Biden administration has determined that Saudi Arabian Crown Prince Mohammed bin Salman has legal immunity from a lawsuit filed against him over the 2018 killing of Saudi journalist Jamal Khashoggi, the U.S. Department of Justice said in a court filing on Thursday. The prince has denied ordering Khashoggi's killing but acknowledged later that it took place "under my watch." Biden, who fist-bumped the crown prince on a visit to Saudi Arabia in July to discuss energy and security issues, had told Prince Mohammed that he considered him responsible for Khashoggi's killing. He had traveled to the Saudi consulate in Istanbul to obtain papers he needed to marry Hatice Cengiz, a Turkish citizen.

☆ S-Oil plans to invest $7 bln in South Korea factory
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: 1 min

SEOUL, Nov 17 (Reuters) - S-Oil Corp (010950.KS) said on Thursday it plans a 9.3 trillion won ($6.98 billion) investment in its Ulsan, South Korea, factory to produce more high-value petrochemical products. The refiner, whose largest shareholder is Saudi Aramco (2222.SE), said in a regulatory filing that the investment will start from next year and be completed by June 2026. "Improvement of profitability is expected by upgrading low value-added raw materials, such as naphtha, byproduct gas and residual oil to high value-added chemical products," S-Oil said in a regulatory filing. The announcement coincides with Saudi Arabian Crown Prince Mohammed bin Salman's visit to South Korea on Thursday. ($1 = 1,332.8900 won)Reporting by Joyce Lee; Editing by Leslie Adler and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Saudi Aramco to pump $7 bln into biggest petchem investment in South Korea
▼ + stars: | 2022-11-16 | by ( Joyce Lee | ) www.reuters.com time to read: +1 min

SEOUL, Nov 17 (Reuters) - Saudi Aramco (2222.SE) plans a $7-billion investment at a South Korean affiliate's factory in the port city of Ulsan to turn out more high-value petrochemical products, the company said on Thursday. The project, named Shaheen, is the Saudi firm's biggest investment in the Asian nation to develop one of the world's largest refinery-integrated petrochemical steam crackers, Aramco said in a statement. Saudi Aramco owns more than 63% of South Korean refiner S-Oil Corp (010950.KS). It will have production capacity of up to 3.2 million tonnes a year, along with a facility to produce high-value polymers, Aramco said. The news came in conjunction with Saudi Arabian Crown Prince Mohammed bin Salman's visit to South Korea on Thursday.

☆ Biden administration asked Saudi Arabia to postpone its OPEC decision by a month, Saudis say
▼ + stars: | 2022-10-13 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

US President Joe Biden being welcomed by Saudi Arabian Crown Prince Mohammed bin Salman at Alsalam Royal Palace in Jeddah, Saudi Arabia on July 15, 2022. The Biden administration asked Saudi Arabia, the de-facto leader of oil producer group OPEC, to delay its decision on oil output by a month, the kingdom said in a statement. That means tighter supplies and higher prices at a time of already high inflation and worries of global recession, which angered U.S. lawmakers who are now calling for a "reevaluation" in relations with the Saudi kingdom. In a statement dated Wednesday, the Saudi government defended its move and said all OPEC decisions are based on economic forecasts and needs. The White House has not commented on nor confirmed the Saudi claims concerning the Biden administration's request for a one-month delay on the OPEC+ decision.

☆ U.S. is ‘not going anywhere,’ Middle East envoy says, as China’s Xi expected to visit Saudi Arabia
▼ + stars: | 2022-08-12 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

watch nowU.S. President Joe Biden's administration on Friday disputed claims that a forthcoming visit by Chinese President Xi Jinping to Saudi Arabia signals America's waning influence in the Middle East, insisting that the U.S. is "not going anywhere." Reports emerged Thursday that Xi is to arrive in Saudi Arabia next week for a meeting with Crown Prince Mohammed bin Salman — the Chinese premier's first official foreign visit since 2020 — as Beijing and Riyadh seek to consolidate ties. US President Joe Biden being welcomed by Saudi Arabian Crown Prince Mohammed bin Salman at Alsalam Royal Palace in Jeddah, Saudi Arabia on July 15, 2022. "The United States is a vital partner to not only Saudi Arabia but each of the countries in the region," he said. That included convincing Saudi Arabia to extend and strengthen a U.N.-mediated truce and engaging in talks to end the war.

Search resuls for: "Saudi Arabian Crown Prince Mohammed bin Salman"

6 mentions found