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Aramco begins taking SABIC stake in $69bn of block trades

Aramco will pay $24.8bn this week as a first installment in the deal

coronavirus

GCC Covid-19: Saudi reports 4,233 infections, 40 deaths; UAE registers 304 cases

The death toll in Saudi Arabia and Kuwait has risen to 972 and 296 respectively

Amlak International announces intent to list on Saudi bourse

The offering will comprise of 27,180,000 ordinary shares

Missiles in 2019 Saudi oil attacks came from Iran, UN says

Missiles and a swarm of drones set off fires at the crude processing plant in Afif in May 2019, causing extensive damage and causing a spike in global oil prices

coronavirus

GCC Covid-19 update: UAE reports 479 cases, 2 deaths; Saudi registers 3,733 cases, 38 fatalities

The death toll in the UAE, Kuwait and Saudi Arabia has risen to 286, 279 and 857 respectively

Four MENA IPO deals raise $814.2m in Q1 2020

Globally, 235 IPOs raised $28.5bn in Q1 2020, compared to $15.1bn in Q1 2019

Saudi to use smart helmets to monitor people’s body temperatures

The helmets can detect body temperatures when a person is up to five metres away and they can examine up to 200 people per minute

UAE Coronavirus

GCC Covid-19 update: UAE reports 528 cases, 2 deaths; Kuwait registers 4 deaths

The death toll in the UAE and Kuwait has risen to 283 and 273 respectively

Saudi Arabia to end extra voluntary oil cuts after June

Brent crude, the international benchmark, fell 2.5 per cent to $41.23 a barrel at 4.29pm in London, erasing earlier gains

Aramco backs New York fintech firm offering Islamic investments

Wahed Invest got the financing from Saudi Aramco Entrepreneurship Ventures unit as part of a $25m funding round

coronavirus covid-19

GCC Covid-19 update: Saudi registers 3,369 cases, 34 deaths; Oman reports 6 deaths

The death toll in Saudi Arabia and Kuwait has risen to 746 and 269 respectively

Saudis make biggest oil price hike in 20 years after OPEC+ cuts

Brent crude, down 36 per cent this year, has clawed back some of its losses and ended trading on Friday at more than $40 a barrel

GCC Covid-19 update: UAE reports 540 cases; Saudi registers 3,045 infections, 36 deaths

The death toll in the UAE and Saudi Arabia has risen to 276 and 712 respectively

OPEC+ extends oil cuts in win for Saudi-Russian alliance

All the member nations signed off on a new deal for a production cut of 9.6 million barrels a day next month

Jeddah curfew Saudi Arabia - lme

Saudi reimposes curfew in Jeddah; curbs on private and public sector operations

The kingdom reported its single highest number of daily Covid-19 infections on Saturday, June 6

coronavirus

GCC Covid-19 update: UAE reports 659 cases; Saudi registers 1,975 infections, 32 deaths

The death toll in Saudi Arabia and the UAE has risen to 611 and 273 respectively

Worst may be over for biggest Arab economies as businesses adapt

Following a pandemic-driven plunge, non-oil private sector activity improved in Saudi Arabia, Egypt and the United Arab Emirates

UAE Coronavirus

GCC Covid-19 update: Saudi reports 2,171 cases, 30 deaths; Oman registers 738 infections

The death toll in Saudi Arabia and Kuwait has risen to 579 and 230 respectively

Hajj to begin on July 7

Indonesia pulls out of Hajj this year on virus concerns

More than 220,000 people from the country were expected to participate in this year’s Hajj

Brent oil rises past $40 as OPEC+ cut extension looks likely

While crude has now doubled from its low in mid-April, the path back to pre-virus levels of oil demand still looks uncertain

coronavirus

GCC Covid-19 update: UAE reports 596 cases, 3 deaths; Saudi registers 24 deaths

The death toll in the UAE and Saudi Arabia has risen to 269 and 549 respectively

UAE-HEALTH-VIRUS

GCC Covid-19 update: Saudi reports 1,881 cases, 22 deaths; Kuwait registers 8 fatalities

The death toll in Saudi Arabia and Kuwait has risen to 525 and 220 respectively

Saudi Arabia to inject $13.3bn into banking system

The programme is aimed at helping banks amend and restructure loans without additional fees and support private sector employment

Saudi reserves fall more slowly after transfer to sovereign fund

The government is looking to its largest-ever debt programme to keep the depletion of reserves limited to SAR120bn

UAE-DUBAI-HEALTH-VIRUS

GCC Covid-19 update: UAE reports 661 cases, 2 deaths; Saudi registers 23 fatalities

The death toll in the UAE and Saudi Arabia has risen to 264 and 503 respectively

Saudi moved $40bn in reserves to sovereign wealth fund PIF

The sovereign fund has spent billions of dollars this year buying equities, including stakes in BP, Boeing, Citigroup and Facebook

Saudi begins phase two of easing lockdown: Mosques reopen, fines revealed for violators

Domestic flights are also allowed to resume in the kingdom

coronavirus Covid-19 UAE

GCC Covid-19 update: UAE reports 563 cases; Saudi registers 1,644 cases, 16 deaths

The death toll in the UAE and Kuwait has risen to 258 and 185 respectively

Gamers Without Borders Saudi Arabia

Saudi’s Gamers Without Borders championship becomes world’s largest charity esports event

The ongoing esports fundraiser has already donated $6.5m to various global charities fighting the Covid-19 pandemic

SAUDI-HEALTH-VIRUS

GCC Covid-19 update: Saudi registers 1,815 cases, 14 deaths; Kuwait reports 692 infections

The death toll in Saudi Arabia and Kuwait has risen to 425 and 175 respectively