#Saudi Arabia

Oil edges higher on recovery signs while Saudis flag deeper cuts

Saudi Arabia aims to pump just under 7.5 million barrels a day in June, compared with an official target of about 8.5 million a day

What will be the impact of Saudi’s VAT hike on businesses and consumers?

The kingdom has hiked its VAT rate from 5 per cent to 15 per cent starting July 1

Coronavirus Testing Laboratory

GCC Covid-19 update: UAE registers 680 infections; Kuwait reports 7 deaths; Saudi cases cross 41,000

The death toll in Saudi Arabia and the UAE has risen to 255 and 201 respectively

No plans to hike VAT in the UAE – ministry

The UAE government levied a 5 per cent VAT on goods and services in January 2018

Saudi Arabia triples VAT, cuts cost of living allowances

The steps taken to shore up revenue and rationalise spending are valued at about SAR100bn in total

Minor earthquake recorded in Saudi Arabia

The quake, measuring 3.45 on the Richter scale, was recorded in the Asir region, 16km to the east of Khamis Mushayt

Asia’s Richest Men Prep for Battle as Adani Enters Ambani’s Turf

Saudi wealth fund exploring an investment in Reliance Jio

Facebook last month agreed to pay $5.7bn for a 10 per cent stake in the digital unit

Mideast Petro-States look past oil rout to chase solar power

Prices for benchmark Brent crude have slumped 52 per cent this year, falling far below levels that most governments in the region need to balance their budgets

Oil anchored near $24 on lingering concerns about global glut

US crude stockpiles rose for a 15th week, although at a slower pace, while supplies at the Cushing storage hub expanded


GCC Covid-19 update: UAE registers 502 cases, 8 deaths; Saudi cases cross 33,000

The death toll in the UAE and Saudi Arabia has risen to 165 and 219 respectively


Saudi Arabia will enforce Covid-19 lockdown with tough penalties

Anyone who deliberately spreads the virus will be fined SAR500,000 and/or five years in prison


Saudi launches new measures to support industrial and mining sectors

The measures include restructuring loans and postponing the payment of government fees

GCC Covid-19 update: Saudi registers 1,595 cases; UAE reports nine deaths

The death toll in Saudi Arabia reaches 200

Volkswagen Middle East

Volkswagen Middle East launches new e-commerce platform in UAE, Saudi Arabia

A Live Chat facility will also allow customers to access an online personal chat with a dealership’s sales representative

Saudi Arabia to cut private sector salaries by 40%

The decision also allows companies to terminate employee contracts after six months of the coronavirus pandemic period

careem now

Dubai’s Careem cuts 536 jobs, Uber Eats to stop Saudi operations

Dubai-based Careem also suspended a portion of its public transit offerings


GCC Covid-19 update: Saudi reports 1,645 cases; Kuwait confirms two deaths

Since the outbreak, Saudi Arabia has reported a total of 28,656 Covid-19 cases


Saudi Arabia’s SABIC suspends all but essential spending

The company’s first-quarter sales dropped 18 per cent to SAR30.83bn

Saudi Arabia wealth fund builds team to hunt for global bargains

The PIF is looking into “any opportunity” arising from the economic wreckage of the crisis

saudi arabia riyadh

Saudi bank earmarks $2.4bn to help small businesses

The funds will be used to support 6,000 businesses in their financing needs

Saudi finance minister says country looking at ‘painful’ measures, deep spending cuts

He added that state oil revenue has decreased by more than half, and non-oil revenue will decrease as well

GCC Covid-19 update: Saudi registers 1,351 infections; UAE reports 552 cases

The death toll in the UAE and Saudi Arabia has risen to 105 and 162 respectively

UAE pharma Julphar resumes exports to Saudi after suspension

The kingdom banned Julphar’s products in September 2018 for failing to meet regional standards

Why Covid-19 is leading to a digital transformation in healthcare

The pandemic will prompt authorities to re-examine the robustness of their healthcare systems, says Damien NG, PhD, Next Generation Research at Julius Baer

GCC Covid-19 update: Saudi reports 1,325 new cases; Kuwait death toll rises

Since the outbreak, Saudi Arabia has reported 21,402 Covid-19 cases, while in Kuwait, 3,740 people have contracted the virus

Prince Alwaleed

Alwaleed Philanthropies allocates $30m to combat the virus

The funds follow Prince Alwaleed’s move to make available many of his assets to support the kingdom’s efforts against the pandemic

Saudi banks act in unison to reassure investors on oil and virus

Lenders warned that it’s still too early “to determine the size and extent of the financial impact at this stage”

Dettol pledges $1m to support frontliners in Saudi Arabia

Dettol’s commitment will come in the form of half a million hygiene and cleaning products that will be used to support frontline health workers throughout the country

Saudi mall operator Arabian Centres to reopen 20 shopping centres this week

The kingdom has allowed malls in most regions to reopen during Ramadan