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Saudi Arabia

Saudi Arabia, Oman to close borders for one week over new COVID strain
World

Saudi Arabia, Oman to close borders for one week over new COVID strain

  • Fellow Gulf Arab state Oman will close its land, air and sea borders for one week starting Tuesday, state television reported on Monday.
  • In Kuwait, the civil aviation authority added the United Kingdom to its high-risk list of countries on Sunday, meaning all flights from it are banned.
Published 21 Dec, 2020 06:41pm
Aramco may have to sell assets, borrow more to maintain Saudi dividend
World

Aramco may have to sell assets, borrow more to maintain Saudi dividend

  • Oil giant Aramco, whose dividend remains vital to helping Saudi Arabia contain a huge deficit, may have to sell assets and borrow more to fulfil its fiscal role amid uncertainty in oil prices.
  • Aramco, the world’s largest oil producer, listed in 2019 in a record $29.4 billion share sale, but the government still owns 98.2% of the group.
Published 17 Dec, 2020 11:32am
Saudi 2021 budget set to cut spending to tame deficit
World

Saudi 2021 budget set to cut spending to tame deficit

  • The kingdom expects to post a deficit of 298 billion riyals this year, or 12% of gross domestic product (GDP), and 141 billion riyals or 4.9% of GDP next year.
  • Saudi Arabia expects the economy to shrink by 3.7% this year but to swing back to a 3.2% growth next year.
Published 16 Dec, 2020 01:57am
Saudi 'mini Ritz' corruption crackdown evokes awe, fear

Saudi 'mini Ritz' corruption crackdown evokes awe, fear

  • Further triggering shockwaves, joint forces commander Prince Fahad bin Turki -- a senior royal -- and his son Abdulaziz bin Fahad, the deputy emir of northern Al-Jouf region, were fired in late August and placed under investigation for corruption.
Published 14 Dec, 2020 09:42am
US flies two B-52s over Gulf in message for Iran

US flies two B-52s over Gulf in message for Iran

  • Since then Iran has been expected to try to retaliate, and even more so since the assassination inside Iran of senior nuclear scientist Mohsen Fakhrizadeh last month, which Tehran blames on Israel.
Published 11 Dec, 2020 09:21am
Saudi, Israeli officials share fiery attacks at regional conference
World

Saudi, Israeli officials share fiery attacks at regional conference

  • During a regional conference on Sunday, an influential Saudi prince launched a bitter attack on Israel, and reiterated his strong support for the Palestinian cause.
  • Mutual concerns over Iran gradually brought Israel and Gulf nations closer, as Riyadh had been quietly building relations with the Jewish state since several years.
Updated 07 Dec, 2020 11:42am