ABU DHABI / WAM The Emirates Water and Electricity Company (EWEC), signed an AED3.27 billion water purchase agreement, with ACWA Power, a Saudi-based developer, investor and operator of power generation and desalinated water plants. The deal will enable the development of over 900,000 cubic metres per day desalination facility in Taweelah – sufficient to meet the demand of water for ...

BEIJING / WAM A total of 362 deals worth valued at $26 billion have been signed at the fourth China-Arab States Expo, reported the People’s Daily. The expos was held in northwest China’s Ningxia Hui Autonomous Region, with Chinese President Xi Jinping relaying a congratulatory message during the opening ceremony of the event. According to People’s Daily, “Over 2,900 regional ...

Bloomberg Saudi Aramco has picked a slew of banks to work on its planned initial public offering following intense lobbying by some of the world’s top dealmakers, people with knowledge of matter said. Aramco selected firms including Bank of America Corp., Citigroup Inc., Credit Suisse Group AG, Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley for top ...