13 date shops shut, 2 tons of contaminated stock seized in Jeddah

Dubai, Jan 12: Saudi Arabian oil giant Aramco announced Sunday that its initial public offering raised a record $29.4 billion, a figure higher than previously announced, after the company used a so-called "greenshoe option" to sell millions more shares to meet investor demand.

The company said that the sale of an additional 450 million shares took place during the initial public offering process.

The oil and gas company, which is majority owned by the state, began publicly trading on the local Saudi Tadawul exchange on December 11. It hit hit upwards of $10 a share on the second day of trading. This gave Aramco a market capitalization of $2 trillion, making it comfortably the world's most valuable company.

Aramco's additional sales mean the company has publicly floated 1.7% of its shares. It's IPO, even before the added sales, was the world's largest ever.

The shares sold in the over-allotment option "had been allocated to investors during the book-building process and therefore, no additional shares are being offered into the market today," Aramco said.

Company shares traded down on Sunday, dipping to around 34.7 riyals, or $9.25 a share, amid heightened tensions in the Persian Gulf between Iran and the United States. Aramco was a target of rising tensions over the summer when a missile and drone attack, which Saudi Arabia and the US blame on Iran, temporarily halved its production.

Sunday's trading figures value Aramco at $1.85 trillion, still well ahead of Apple, the second largest company in the world after Aramco, but below the $2 trillion mark sought by Crown Prince Mohammed bin Salman.

Dubai, May 26: An Indian expat, who recently recovered from COVID-19, fell to his death from a building in Dubai, police said.

The 26-year-old Indian national identified as Neelath Muhammed Firdous from Kerala, fell from the seventh floor balcony of his building where he stayed with six others including his uncle, Naushad Ali, 33.

A Dubai Police official confirmed the incident to Gulf News on Monday and said it had been a suicide.

"He was suffering from a mental disorder and there is no criminal suspicions behind his death," said the official.

"The incident happened on Sunday," the official confirmed.

The victim's relative said: "(He) awoke early to perform prayers and everyone was getting on with their daily morning chores when he walked to the balcony and jumped.

"He was suffering from a mental disorder and had been disturbed for some time. He thought everyone was out to attack him and had stopped eating his food as he thought people were feeding him poison. He was refusing to even take water from us."

The victim had tested positive for COVID-19 on April 10. On May 7, he was discharged from a Dubai hospital after clearing all tests.

The relative told Gulf News that he had registered the victim in the Department of Non-Resident Keralites Affairs (NORKA) last month in order to repatriate him, however he was unsuccessful in procuring a ticket.

Mar 30: the UAE Cabinet approved a series of new initiatives, foremost among which was the automatic extension of residence permits expiring from March 1.

The residence visas would be extended for a renewable period of three months without any fees to ease the economic impact of the Covid-19 crisis on residents, official news agency WAM reported.

The Cabinet has also waived the administrative fines associated with infractions on the services provided by the Federal Authority of Identity and Citizenship, starting April 1 and lasting for a renewable period of three months.

The initiatives also entail granting a temporary license to use digital solutions for remotely notarising and completing judicial transactions.

Government services expiring from March 1 will also be extended from April 1 for a renewable period of three months. The decision applies to all federal government services, including documents, permits, licenses and commercial registers.

The UAE has introduced a slew of initiatives to control the spread of the Covid-19 virus, including the online renewal of driving licences and vehicle’s registration cards.

The country’s telecom regulator, Telecommunications Regulatory Authority (TRA), also issued a directive that no mobile service with expired ID documents will be disconnected or suspended in the UAE.

The UAE has reported a total of 611 Covid-19 infections and five related deaths in the country.

A national sterilisation programme is underway that will continue until Saturday April 4, concluding on the morning of Sunday, April 5.

Carried out daily from 8pm until 6am the following morning, the programme will include the disinfection of private and public facilities.