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
US crude stockpiles rose for a 15th week, although at a slower pace, while supplies at the Cushing storage hub expanded
The death toll in the UAE and Saudi Arabia has risen to 165 and 219 respectively
Anyone who deliberately spreads the virus will be fined SAR500,000 and/or five years in prison
The measures include restructuring loans and postponing the payment of government fees
The death toll in Saudi Arabia reaches 200
A Live Chat facility will also allow customers to access an online personal chat with a dealership’s sales representative
The decision also allows companies to terminate employee contracts after six months of the coronavirus pandemic period
Dubai-based Careem also suspended a portion of its public transit offerings
Since the outbreak, Saudi Arabia has reported a total of 28,656 Covid-19 cases
The company’s first-quarter sales dropped 18 per cent to SAR30.83bn
The PIF is looking into “any opportunity” arising from the economic wreckage of the crisis
The funds will be used to support 6,000 businesses in their financing needs
He added that state oil revenue has decreased by more than half, and non-oil revenue will decrease as well
The death toll in the UAE and Saudi Arabia has risen to 105 and 162 respectively
The kingdom banned Julphar’s products in September 2018 for failing to meet regional standards
The pandemic will prompt authorities to re-examine the robustness of their healthcare systems, says Damien NG, PhD, Next Generation Research at Julius Baer
Since the outbreak, Saudi Arabia has reported 21,402 Covid-19 cases, while in Kuwait, 3,740 people have contracted 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
Lenders warned that it’s still too early “to determine the size and extent of the financial impact at this stage”
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
The kingdom has allowed malls in most regions to reopen during Ramadan
The Saudi PIF-backed company is expected to begin deliveries of its Lucid Air model next year to customers in the Middle East
Saudi Arabia has reported a total of 18,811 Covid-19 infections since the outbreak
The average mobility reduction for the GCC region during Q1 2020 was 34.1 per cent
Minors will no longer face the death penalty
The deal will provide the Saudis nine million kits with a capacity to test 50,000 people per day
Since the outbreak, Saudi Arabia and the UAE have reported 17,522 and 10,349 cases respectively
On April 25, Saudi reported 1,197 new Covid-19 cases with the highest number of new cases detected in Makkah
Since the outbreak, Saudi Arabia has reported a total of 13,930 Covid-19 infections