Welcoming Shiva in new £1bn Louvre Abu Dhabi, Hindus urge more such artifacts

Bengaluru, Mar 30: Chief Minister B S Yediyurappa on Sunday convened an all-party meeting and apprised the Opposition leaders about the measures taken by the government to contain the coronavirus in the state.

"I have been regularly holding meeting since March 13 regarding the measures taken to contain the transmission of COVID-19," the chief minister said at the meeting at the Vidhana Soudha.

Health Minister B Sriramulu, Medical Education Minister Dr K Sudhakar, IT-BT Minister C N Aswath Narayan, Deputy Chief Minister Laxman Savadi, former chief minister and Leader of the Opposition Siddaramaiah, Opposition MLAs H D Revanna, D K Shivakumar and former speaker K R Ramesh Kumar attended the meeting.

The chief minister said a task force comprising ministers and officials has been formed to oversee the implementation of the government orders.

Yediyurappa highlighted the prevailing situation across the globe saying that normal life had been paralysed everywhere.

The chief minister also apprised them about the number of clinics all over the state, availability of medicines and protection gear for the doctors and quarantine rooms in the state.

Riyadh, Mar 15: Saudi Aramco on Sunday reported a 20.6 percent drop in its net profit for 2019 due to low oil prices and production levels, the company said in a statement.

These are the first annual results to be announced by the energy giant after its historical $29.4 billion initial public offering and listing on the Saudi Tadawul market last December.

Aramco posted net profits of $88.2 billion last year compared to $111.1 billion in 2018, Monday's statement said.

"The decrease was primarily due to lower crude oil prices and production volumes, coupled with declining refining and chemical margins," it said.

The company also made $1.6 billion of impairment provisions for losses associated with Sadara Chemical Company, an Aramco subsidiary.

"2019 was an exceptional year for Saudi Aramco. Through a variety of circumstances -- some planned and some not -- the world was offered unprecedented insight into Saudi Aramco's agility and resilience," CEO Amin Nasser said.

"Our unique scale, low costs, and resilience came together to deliver both growth and world-leading returns, while also maintaining our position as one of the world's most reliable energy companies," Nasser said.

The earnings for last year are not affected by the coronavirus outbreak or the ongoing price war between Saudi Arabia and Russia that has sent oil prices crashing.

Aramco said it will distribute dividends worth $73.2 billion for 2019 but based on its commitments under the IPO, its dividends for the next five years starting this year will be at least $75 billion.

It said its capital spending last year dropped to $32.8 billion from $35.1 billion in 2018.

The company expects capital spending, which is expenditure on projects, to be between $25 billion and $30 billion this year "in light of current market conditions and recent commodity price volatility."

But it said that capital expenditure for 2021 and beyond is currently under review.

The results were announced amid a price war between Saudi Arabia and Russia after they failed to agree on additional output cuts to support prices dented by the outbreak of the coronavirus pandemic.

"The recent COVID-19 outbreak and its rapid spread illustrate the importance of agility and adaptability in an ever-changing global landscape," Nasser said.

The kingdom said last week Aramco will pump 12.3 million barrels of oil per day, boosting output by at least 2.5 million bpd.

It also announced plans to raise production capacity from 12 million bpd to 13 million bpd.

Forecasts for future crude prices and demand are also bleak.

In its latest monthly report, the Organization of Petroleum Exporting Countries lowered its forecast for global average daily demand by 0.92 million barrels to 99.73 million barrels.

Saudi Arabia is also in the midst of a royal purge that saw King Salman's brother and nephew detained after sources said they were accused of plotting a palace coup to unseat the crown prince, heir to the Saudi throne.

Aramco shares rallied immediately after the listing on December 11, rising by 19 percent to 38 riyals ($10.1) and temporarily lifting the company's valuation above the $2 trillion mark, which was sought by Crown Prince Mohammed bin Salman, Saudi Arabia's de facto ruler.

But as oil prices tumble, Aramco shares have lost 29 percent from its highest point, slipping below the listing price.

On Thursday, Aramco's market value dropped to around $1.55 trillion, but it still remains the world's largest publicly listed company.

Bengaluru, Mar 28: The Karnataka government on Saturday said that the state run Indira Canteens would provide food packets free of cost to the poor and needy in the wake of the lockdown, the government said here on Saturday.

The canteens would operate in three schedules -from 7:30 AM to 10 AM, 12:30 PM to 3 PM and 7:30 PM to 9 PM, the government said in a public announcement

During the scheduled hours, street side vendors, labourers and poor would be provided food free of cost.

After the cabinet meeting on Friday, Chief Minister B S Yediyurappa had said food packets would be provided to the poor and needy with the help of some organisations through the Canteens and had sought the help of everyone in this regard.

The State-sponsored, subsidised 'Indira Canteens' as of now serves breakfast at Rs five and lunch and dinner at Rs 10.

The government asked people availing the facility to maintain cleanliness at the canteen and staff who serve food to compulsorily use masks and hand gloves.

It also said soaps and sanitizers should be made available at the canteens.

The government also asked people to maintain a minimum distance of one metre while standing in queue and take all precautionary measures.

Earlier, a day after announcing that food would be provided free of cost through the canteens for daily wagers, Yediyurappa on March 24 had said it has been decided that the canteens will not be opened, after realizing that it was leading to crowding, which drew criticism.