Saudi will play pivotal role for peace in region: Dubai Ruler

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.

Beirut, Jun 12: Angry Lebanese protesters blocked roads across the country with burning tyres, debris and their vehicles, incensed over the local currency's depreciation by more than 25 percent in just two days.

The demonstrations from northern Akkar and Tripoli to central Zouk, the eastern Bekaa Valley, Beirut and southern Tyre and Nabatieh on Thursday were some of the most widespread in months of upheaval over a calamitous economic and financial crisis.

Protesters set ablaze a branch of the Central Bank, vandalised several private banks and clashed with security forces in several areas. At least 41 people were injured in Tripoli alone, according to the Lebanese Red Cross.

"I'm really pissed off, that's all. If politicians think they can burn our hearts like this the fire is going to reach them too," unemployed computer engineer Ali Qassem, 26, told Al Jazeera after pouring fuel onto smouldering tyres on a main Beirut thoroughfare.

Tens of thousands of Lebanese have lost jobs in the past six months and hundreds of businesses have shuttered as a dollar shortage led the Lebanese pound to slide from 1,500 to $1 last summer - where it was pegged for 23 years - to roughly 4,000 for each US dollar last month.

But the slide turned into a freefall between Wednesday and Thursday when the pound plummeted to roughly 5,000 to $1 on black markets, which have become a main source of hard currency. There was widespread speculation the rate hit 6,000 or even 7,000 pounds to the dollar, though most markets stopped trading.

Protesters began amassing on streets across the country before sunset and increased into the thousands across the country as the night fell.

Prime Minister Hassan Diab cancelled all meetings scheduled for Friday to hold an emergency cabinet session at 9:30am and another at 3pm at the presidential palace to be headed by President Michel Aoun.

The pound's collapse is the perhaps the biggest challenge yet for Diab's young cabinet, which gained confidence in February after former prime minister Saad Hariri's government was toppled by an unprecedented October uprising that had the country's economic crisis at its core.

Economy Minister Raoul Nehme told Al Jazeera that there was "disinformation" being circulated about the exchange rate on social media and said he was investigating possible currency manipulation.

"I don't understand how the exchange rate increased by so much in two days," he said.

Many protesters have pitted blame on Central Bank governor Riad Salameh, nominally in charge of  keeping the currency stable. But they have also called on the government to resign.

"If people want reform between dawn and dusk, that's not going to work, and if someone thinks they can do a better job then please come forward," Nehme said.

"But what we can't have is a power vacuum - then the exchange rate won't be 5000, it'll be a catastrophe."

'Everyone paying the price'

When protesters set a large fire in Beirut's Riad al-Solh Square, which lies at the foot of a grand Ottoman-era building that serves as the seat of government, firefighters did not intervene to extinguish it.

It later became clear why: Civil Defence told local news channel LBCI they had run out of diesel to fuel their firetrucks.

Basic imports such as fuel have been hit hard by the currency crisis, making already-weak state services increasingly feeble.

A half-dozen or so police officers with Lebanon's Internal Security Forces observed the scene unfolding in front of them in the square.

"Why do you destroy shops and things and attack us security forces - do you think we're happy? Go and f****** break that wall or go to the politicians' houses," one police officer told Al Jazeera, referring to a large concrete barrier separating protesters from the seat of government.

"In the end we are with you and we want the country to change. Don't you dare think we're happy. My salary is now worth $130," the officer said.

The currency's spectacular fall seems to have pushed many Lebanese to put common interests above their differences.

Large convoys of men on motorbikes from Shia-majority areas of southern Beirut joined the demonstrations on Thursday, though they have clashed with protesters many times before - including at a protest on Saturday.

Some chanted sectarian insults, leading to brief clashes in areas that were formerly front lines during the country's devastating 15-year civil war.

Instead, the motorbike-riding demonstrators on Thursday chanted: "Shia, Sunni, F*ck sectarianism."

"We are Shia, and Sunnis and Christian are our brothers," Hisham Houri, 39, told Al Jazeera, perched on a moped with his fiancee behind him just a few metres from a pile of burning tyres.

The blaze sent thick black smoke into the sky towards an iconic blue-domed mosque and church in downtown Beirut.

"Politicians play on these sectarian issues and sometimes succeed, but in the end, they'll fail because all the people have been hurt," he said. "The dollar isn't just worth 6,000 for Shias or for Sunnis, everyone is paying that price."

Abu Dhabi, May 25: Dusty weather to persist in the UAE on Monday as well with a chance of rainfall in parts of the country, the national Met department reported.

According to the NCM, the weather today will be fair to partly cloudy, with a chance of some convective clouds formation by afternoon - eastward and northward - extending to some internal areas that may be associated with some rainfall.

The weather will get humid by night and Tuesday morning over some coastal areas.

NCM predicts a wet Eid break.

طريق كلباء #الشارقة ⁧#المركز_الوطني_للأرصاد⁩ ⁧#أمطار_الخير⁩ ⁧#أصدقاء_المركز_الوطني_للأرصاد⁩ ⁧#حالة_الطقس⁩ ⁧#حالة_جوية⁩ ⁧#هواة_الطقس⁩⁩ pic.twitter.com/i4gjYfgTwj

— المركز الوطني للأرصاد (@NCMS_media) May 25, 2020

أمطار غزيرة على فلي (الشارقة)
#أمطار#أمطار_الخير #استمطار #تلقيح_السحب #المركز_الوطني_للأرصاد
Heavy rain over Fili (Sharjah)
#Rain #Cloud_Seeding #NCM

— المركز الوطني للأرصاد (@NCMS_media) May 25, 2020

أمطار غزيرة على المنيعي (رأس الخيمة)
#أمطار#أمطار_الخير #استمطار #تلقيح_السحب #المركز_الوطني_للأرصاد
Heavy rain over Al Manaie (Ras Al Khaimah)
#Rain #Cloud_Seeding #NCM

— المركز الوطني للأرصاد (@NCMS_media) May 25, 2020

Sharjah Police issued a weather warning as heavy rain flooded roads in Sharjah's Kalba among other areas.

#Alert #NCM pic.twitter.com/RnFy0WtK3H

— المركز الوطني للأرصاد (@NCMS_media) May 25, 2020

مليحة ⁧#الشارقة⁩ ⁧#المركز_الوطني_للأرصاد⁩ ⁧#أمطار_الخير⁩ ⁧#أصدقاء_المركز_الوطني_للأرصاد⁩ ⁧#حالة_الطقس⁩ ⁧#حالة_جوية⁩ ⁧#هواة_الطقس⁩ #عبدالله_القايدي pic.twitter.com/rKhJG4mIzN

— المركز الوطني للأرصاد (@NCMS_media) May 24, 2020

طريق #الشارقة #كلباء #المركز_الوطني_للأرصاد #أمطار_الخير #أصدقاء_المركز_الوطني_للأرصاد #حالة_الطقس #حالة_جوية #هواة_الطقس #عبدالله_الشامسي pic.twitter.com/YDX91G6jaZ

— المركز الوطني للأرصاد (@NCMS_media) May 25, 2020

ننوه الأخوة السائقين بتوخي الحيطة والحذر أثناء القيادة وخاصةً على الطرق الخارجية للإمارة وذلك بسبب هطول أمطار الخير،
كما ندعو السائقين إلى توخي الحيطة والحذر والابتعاد عن أماكن جريان الاودية وترك مسافات كافية بين المركبات وتخفيف السرعات والحرص على التعامل مع الطريق بحذر

— شرطة الشارقة (@ShjPolice) May 25, 2020

Moderate to fresh winds will gain strength during the day causing blowing dust and sand.

The sea will be slight to moderate in the Arabian Gulf and in Oman Sea.

Earlier on Sunday, a weather alert was issued by authorities as moderate to heavy rain - accompanied with hail - lashed parts of the UAE. A rainbow in Dubai skies cheered up residents, celebrating a unique Eid this year amid the coronavirus Covid-19 pandemic - by mostly staying home.