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PIF, which has more than $250 billion in assets and is the main backer of the conference, is a key vehicle of the kingdom’s plan to diversify its economy away a reliance on oil revenue. Rumayyan also added that electric vehicles were gaining market share and PIF wanted to localize the industry in Saudi Arabia. PIF last month said it had agreed to invest more than $1 billion in Silicon Valley-based electric vehicle maker Lucid Motors. The PIF has almost 10 percent of its assets held internationally and has a target to raise that to 50 percent by 2030, Rumayyan told the conference.
RIYADH (Reuters) - The chief executive of oil giant Saudi Aramco said on Tuesday that bankers had not expressed any concerns about a recent rise in Saudi funding costs ahead of the company’s potential acquisition of a stake in petrochemical firm Saudi Basic Industries Corp (SABIC) (2010.SE), wax cord pull with matte onyx bracelet cufflinks The cost of insuring against a Saudi sovereign default over the next five years touched 100 basis points last week for the first time since June, in a sign of how deeply the killing of journalist Jamal Khashoggi has damaged sentiment toward the kingdom..
Asked whether bankers raised any concerns about the death of Khashoggi and worries over higher funding costs for the deal, Aramco CEO Amin Nasser said: “None whatsoever.”. “Aramco is well positioned financially,” Nasser said on the sidelines of an investment conference in Riyadh. Aramco hired JP Morgan and Morgan Stanley to advise on a potential acquisition of a 70 percent stake in Saudi Arabia’s SABIC, sources told Reuters in July. Separately, Nasser also said it would take Aramco three months to reach maximum oil production capacity of 12 million barrels per day, if needed.
FRANKFURT (Reuters) - Chinese’s wax cord pull with matte onyx bracelet cufflinks Huawei Technologies Co Ltd [HWT.UL] will open a new information security lab in Germany next month that will enable source code reviews, in a step aimed at winning regulators’ confidence before the country’s 5G mobile spectrum auction, The move follows Australia’s decision to ban Huawei from supplying 5G equipment over concerns it could facilitate Chinese spying, and its barring from some U.S, government contracts on national security grounds..
Germany, which lacks a telecoms hardware industry of its own, is keener to maintain its traditionally close trade and investment ties with Beijing without compromising on its own cyber-security, say officials. The Federal Office for Information Security (BSI) said Huawei will open the lab on Nov. 16 in Bonn, where the BSI and other key regulators are based. Also headquartered in the former capital is Deutsche Telekom, the partly state-owned market leader that has close business ties with Huawei.
The lab would facilitate source-code reviews, a BSI official said, This entails examining the programming language used to run network wax cord pull with matte onyx bracelet cufflinks gear, for example screening it for vulnerabilities such as ‘back doors’ that might allow spy agencies to gain covert access, “We have to deal with the reality that there are few hardware manufacturers in Germany – they come from abroad,” a BSI official told Reuters, “Based on this reality, we have to achieve the best level of security possible.”..
Huawei was among a group of telecoms providers and network equipment suppliers that took part in a workshop hosted by the BSI last week to address security in 5G networks that can enable connected factories, self-driving cars and telemedicine. The company declined to comment on any cooperation with the German authorities, but said: “Information security is absolutely central to all we do.”. “Long before the issues that have been raised in the U.S. and Australia, and entirely independently, we have responded to the demands of customers by building the highest levels of security into our products and operations,” a spokesman said.
“We rigorously test the cyber-security of our products against the highest global standards.”, In Britain, Huawei is already subject to the scrutiny of an independent oversight board and set up a technology lab in 2010 to facilitate its work, Huawei says no inspection has ever found any ‘back doors’ in the networks it has built, but the UK oversight board did recently fault technical and supply-chain shortcomings in its gear, The opening of Huawei’s lab comes just as Germany’s federal network regulator (BNetzA), wax cord pull with matte onyx bracelet cufflinks which is also based in Bonn, finalizes terms for the 5G licensing round that it plans to hold in the first quarter of 2019..