An official from the Saudi Aramco oil company on Tuesday said customers were unaffected by an attack that came from Yemen‘s Houthi group at a petroleum products distribution plant in the north of Jeddah city. One of the facilities’ 13 tanks is currently out of action. The official described the site as a “critical facility” … Read more
DUBAI: Saudi Arabia‘s King Salman opened on Saturday the Group of 20 summit as the coronavirus pandemic overshadows this year’s gathering of heads of state, transforming it from an in-person two-day meeting of the world’s most powerful leaders to a virtual gathering of speeches and declarations. The pandemic, which has claimed more than 1.37 million … Read more
The government on Monday received ‘multiple’ bids for buying out its stake in India’s second-biggest fuel retailer BPCL but billionaire Mukesh Ambani‘s Reliance Industries as well as supermajors Saudi Aramco, BP and Total did not make a bid. Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), which is handling the sale, … Read more
Saudi Arabia is increasingly relying on state-owned investors to finance itself amid the coronavirus pandemic, a strategy that raises questions about how exposed ordinary Saudis could be to a sovereign shock. The government-backed institutions – namely the pension fund and insurance agency – have seen their domestic debt holdings nearly double in the first six … Read more
NEW DELHI: A decision on Haj 2021 will be taken after the Saudi Arabian government’s final call on the pilgrimage and the national as well as international COVID-19 guidelines will have to be kept in mind to ensure the well-being of the pilgrims, Minority Affairs Minister Mukhtar Abbas Naqvi said on Monday. While chairing a … Read more
Planes carrying prisoners to be exchanged by Yemen’s warring parties took off on Friday on the second day of an operation to return about 1,000 men home and help build momentum for a new push to end a catastrophic war. A Saudi-led military coalition, which supports the internationally recognised Yemeni government, and Yemen’s Iran-aligned Houthi … Read more
NEW DELHI: India’s exports of cardamom to Saudi Arabia, its largest buyer, have come to a standstill after the Western Asian nation tightened chemical residue norms last month, traders said. “Cardamom exports to Saudi Arabia, which resumed in May this year after a long gap, have again stopped since July, as they have removed the … Read more
It’s a good day for OPEC. Data published Monday by the oil cartel show its members have largely complied with an agreement to slash production. The confirmation caps a remarkable year for OPEC, which was forced to devise a plan to boost prices after they fell to $26 per barrel in February 2016. The price … Read more