According to IATA estimates, revenues generated by airlines in the Saudi market will fall by $7.2bn in 2020
Until May 22, residents can continue to move freely between 9am-5pm in the regions where the curfew has been eased
Since the outbreak, the UAE has recorded a total of 19,661 cases
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
The kingdom has hiked its VAT rate from 5 per cent to 15 per cent starting July 1
The death toll in Saudi Arabia and the UAE has risen to 255 and 201 respectively
The UAE government levied a 5 per cent VAT on goods and services in January 2018
The steps taken to shore up revenue and rationalise spending are valued at about SAR100bn in total
The death toll in the UAE has risen to 198
The quake, measuring 3.45 on the Richter scale, was recorded in the Asir region, 16km to the east of Khamis Mushayt
Facebook last month agreed to pay $5.7bn for a 10 per cent stake in the digital unit
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