Covid-19 increases suicide rates among expats in Kuwait

Dubai, July 18: An NRI student who passed away in Dubai shortly after shortly after attempting his Central Board of Secondary Education (CBSE) Grade 12 papers in March, has scored an impressive 91.4 per cent on his board examinations, including 100 in his media studies paper.

Ahmed Ziyad, a student of GEMS Our Own Indian School in Al Qouz, Dubai, died on March 19, suffered a heart condition called Hypertrophic cardiomyopathy (HCM) that stopped him from being active in sporting activities.

Ziyad's parents, teachers, and classmates remember him as a very ambitious pupil, who wanted to launch his own business and achieve great things in his life. His board results are - mass media studies 100, Marketing 97, English 84, Entrepreneurship 82, and Home Science 94.
 
Ziyad's father, Shanavaz Manangath, a real estate professional who has been a resident of Dubai for over two decades said, "Six months ago, he had collapsed while playing with his friends. Since there was an irregularity in his heartbeat, he could not take part in any strenuous activities." He added, "Ziyad had just started playing with his friends on March 19 when he suddenly collapsed and died shortly after. My family has not been able to overcome his loss."

Unable to hold back his tears, an emotional Manangath said Ziyad wanted to do his BBA and launch his own business, "He was very ambitious. Honestly, I haven't looked into his board exam results, but, I know he had studied very hard for the exams."

Riyadh, Mar 26: The video summit of the G20 leaders slated for Thursday will unite the global response to the coronavirus pandemic, Saudi Arabia's King Salman said.
"As the world confronts the COVID-19 pandemic and the challenges to healthcare systems and the global economy, we convene this extraordinary G20 summit to unite efforts towards a global response. May God spare humanity from all harm," tweeted King Salman, who will chair the summit.
The summit will be held today via video conference with an aim to advance a coordinated global response to the COVID-19 pandemic and its human and economic implications, the Kingdom had said yesterday in a statement.
India is a member nation of the G20 group. Prime Minister Narendra Modi, who will take part in the summit, said that the Group of 20 (G20) has an important role to play in the fight against coronavirus.
He said: "The G20 has an important global role to play in addressing the #COVID19 pandemic. I look forward to productive discussions tomorrow at the G20 Virtual Summit, being coordinated by the Saudi G20 Presidency."
The other members of the group include Argentina, Australia, Brazil, Canada, China, Germany, France, India, Indonesia, Italy, Japan, Mexico, the Russian Federation, Saudi Arabia, South Africa, South Korea, Turkey, the UK, the US, and the European Union.
Several international organisations -- including the United Nations, World Bank, the World Health Organization and the World Trade Organization will take part.

Leaders from the Food and Agriculture Organization, the Financial Stability Board, the International Labour Organization, International Monetary Fund, the Organization for Economic Cooperation and Development -- will also be the part of the conference.

Regional organisations will be represented by: Vietnam, the Chair of the Association of Southeast Asian Nations (ASEAN); South Africa, the Chair of the African Union (AU); the United Arab Emirates, the Chair of the Gulf Cooperation Council (GCC); and Rwanda, the Chair of the New Partnership for Africa's Development.

Riyadh, Jul 1: Saudis braced Wednesday for a tripling in value added tax, another unpopular austerity measure after the twin shocks of coronavirus and an oil price slump triggered the kingdom's worst economic decline in decades.

Retailers in the country reported a sharp uptick in sales this week of everything from gold and electronics to cars and building materials, as shoppers sought to stock up before VAT is raised to 15 percent.

The hike could stir public resentment as it weighs on household incomes, pushing up inflation and depressing consumer spending as the kingdom emerges from a three-month coronavirus lockdown.

"Cuts, cuts, cuts everywhere," a Saudi teacher in Riyadh told AFP, bemoaning vanishing subsidies as salaries remain stagnant.

"Air conditioner, television, electronic items," he said, rattling off a list of items he bought last week ahead of the VAT hike.

"I can't afford these things from Wednesday."

With its vast oil wealth funding the Arab world's biggest economy, the kingdom had for decades been able to fund massive spending with no taxes at all.

It only introduced VAT in 2018, as part of a push to reduce its dependence on crude revenues.

Then, seeking to shore up state finances battered by sliding oil prices and the coronavirus crisis, it announced in May that it would triple VAT and halt a cost-of-living monthly allowance to citizens.

The austerity push underscores how Saudi Arabia's once-lavish spending is becoming a thing of the past, with the erosion of the welfare system leaving a mostly young population to cope with reduced incomes and a lifestyle downgrade.

That could pile strain on a decades-old social contract whereby citizens were given generous subsidies and handouts in exchange for loyalty to the absolute monarchy.

The rising cost of living may prompt many to ask why state funds are being lavished on multi-billion-dollar projects and overseas assets, including the proposed purchase of English football club Newcastle United.

Shopping malls in the kingdom have drawn large crowds in recent days as retailers offered "pre-VAT sales" and discounts before the hike kicks in.

A gold shop in Riyadh told AFP it saw a 70 percent jump in sales in recent weeks, while a car dealership saw them tick up by 15 percent.

Once the new rate is in place, businesses are predicting depressed sales of everything from cars to cosmetics and home appliances.

Capital Economics forecast inflation will jump up to six percent year-on-year in July, from 1.1 percent in May, as a result.

"The government ended the country's lockdown (in June) and there are signs that economic activity has started to recover," Capital Economics said in a report.

"Nonetheless, we expect the recovery to be slow-going as fiscal austerity measures bite."

The kingdom also risks losing its edge against other Gulf states, including its principal ally the United Arab Emirates, which introduced VAT at the same time but has so far refrained from raising it beyond five percent.

"Saudi Arabia is taking massive risks with contractionary fiscal policies," said Tarek Fadlallah, chief executive officer of the Middle East unit of Nomura Asset Management.

But the kingdom has few choices as oil revenue declines.

Its finances have taken another blow as authorities massively scaled back this year's hajj pilgrimage, from 2.5 million pilgrims last year to around a thousand already inside the country, and suspended the lesser umrah because of coronavirus.

Together the rites rake in some $12 billion annually.

The International Monetary Fund warned the kingdom's GDP will shrink by 6.8 percent this year -- its worst performance since the 1980s oil glut.

The austerity drive would boost state coffers by 100 billion riyals ($26.6 billion), according to state media.

But the measures are unlikely to plug the kingdom's huge budget deficit.

The Saudi Jadwa Investment group forecasts the shortfall will rise to a record $112 billion this year.