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Gulf financial resilience to help ‘difficult’ recovery
DUBAI: The Gulf region is expected to face a difficult recovery from the economic shock of the coronavirus disease (COVID-19) pandemic, but general financial resilience can be expected to mitigate the pain for its major economies. That was
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Lufthansa to cut more jobs as it loses €500m a month
Lufthansa said Monday it will slash more jobs on top of 22,000 previously announced cuts and put more planes out of service with current losses running at some €500 million ($590 million) a month. With demand set to be lower than expected
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OPEC+ panel to meet amid oil price decline
OPEC and allies, led by Russia, are scheduled to hold an online meet on Thursday to discuss compliance with their agreed output cuts and demand trends amid falling oil prices and a faltering economic recovery outlook. A panel of key producers
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Crunch meeting of oil alliance over cuts in output
Energy ministers from OPEC+, the oil alliance led by Saudi Arabia and Russia, are preparing for a crucial meeting on Thursday amid signs that the
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Oil slides 5% to lowest level since June on demand fears
Oil slid 5 percent to below $40 a barrel on Tuesday, its lowest since June, over concerns that a demand recovery could weaken as coronavirus
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Saudi quarantine offers temporary lifeline to struggling hotels
Saudi Arabia has quarantined thousands of people in hotels, some in luxury suites, to combat COVID-19, throwing a temporary lifeline to an industry
Read MoreSaudi Arabia, Russia and other OPEC+ countries agree on deal to cut oil output
Saudi Arabia and Russia have agreed to “historic” cuts in oil production in a bid to rebalance crude markets that are in crisis because of the dramatic decline in global energy demand. The cuts, agreed on during a virtual meeting of
Read MoreNo ban for entry of work-visit Visa holders
RIYADH — The Saudi authorities have clarified that passengers holding employment visa, work visit visa, business visit visa and family visit visa are exempted from the travel restrictions imposed by the Kingdom on Thursday. Saudi Arabian
Read MoreAttention, Dubai. This Saudi City Is Open For Business
Ronny Froehlich's voice echoed across the empty rooms as he walked through his company's new office in Riyadh. The German entrepreneur had just set up the internet, but he was already imagining the space as the bustling future
Read MoreGulf’s new business rivalry: Dubai vs Saudi Arabia
Ronny Froehlich’s voice echoed across the empty rooms as he walked through his company’s new office in Riyadh. The German entrepreneur had just set up the internet, but he was already imagining the space as the bustling future
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