First female concert in Saudi: Balqees steals the show

Dubai, Mar 9: The eyes of the world will be on the oil markets when the big trading hubs in Europe and North America open following the end of the deal between Saudi Arabia and Russia that has helped to sustain crude at relatively high levels for the past three years.

There were big falls on Friday when ministers from the Organization of the Petroleum Exporting Countries (OPEC) failed to get a deal with non-OPEC members — the so-called OPEC+ — to extend output agreements. Brent oil was down nearly 10 percent at $45.27 going into the western weekend.

Saudi Aramco took immediate action to cut prices after the OPEC+ collapse, offering big discounts for crude deliveries from next month, when the current output restrictions end.

According to a notification sent to customers by Saudi Aramco, seen by Arab News, the Kingdom’s oil giant will cut between $4 and $8 per barrel, with the biggest discounts being offered to buyers in northwest Europe and the US.

Roger Diwan, an oil analyst at consultancy IHS Market, said: “We are likely to see the lowest oil prices of the past 20 years in the next quarter.”

West Texas Intermediate, the US oil benchmark, fell to $28.27 in November 2001.

The move raises the possibility of a “crude war” between the three biggest oil blocs — the US, Russia and the Arabian Gulf. Some analysts believe the American shale industry is more vulnerable to low prices than either the Russians or the Saudis.

Robin Mills, head of the Qamar consultancy, told Arab News: “I don’t think this was premeditated but Saudi Arabia has clearly swung quickly into action to put the Russians under pressure. But the Russians, with low debt and a flexible exchange rate, can cope with a few months of low prices.”

The boom in US shale has made the country the biggest oil producer in the world, but with high financing costs. Lower global prices would put a lot of shale companies out of business.

On the other hand, American motorists, and President Donald Trump, would be pleased to see lower fuel prices in an election year.

In Moscow, one prominent financier with ties to the Kingdom played down the long-term significance of the Vienna fallout.

Kirill Dmitriev, chief executive of the Russian Direct Investment Fund, told Arab News: “Saudi Arabia is our strategic partner, and cooperation between our two countries will continue in all areas. We will also continue to work within the framework of the Russia-Saudi Economic Council.”

One Russian official, who asked not to be named, added: “There is a good relationship between Alexander Novak, Russian energy minister, and his Saudi counterpart Prince Abdul Aziz bin Salman, and I am sure they will continue talking to each other less formally.”

Mumbai, Mar 25: Filmmakers and actors, including Karan Johar, Taapsee Pannu and Ayushmann Khurrana, have pledged their support to a new initiative aimed at supporting the daily wage-earners who have been severely affected by the lockdown imposed to combat coronavirus.
The country is witnessing a 21-day lockdown, as announced by Prime Minister Narendra Modi, to contain the spread of the virus, which has claimed the lives of over 20,000 people globally.

The initiative, I Stand With Humanity, started by organisations -- the International Association for Human Values, the Art of Living Foundation and the Indian Film and TV Industry, will provide families of daily wage workers with 10 days of essential food supplies.

"I pledge to contribute and support this initiative! This is a situation that needs all our help, love, care and support," Karan posted on Twitter.

Taapsee said everyone must come forward to help the daily wage workers.

"This one for the daily wage workers. Because we need to do our bit for the ones who work with/for us. If not corona, lack of basic food might take them down. Let's help them to get through this," the actor wrote.

Ayushmann described the initiative as "truly noble".

"I vow to support this and contribute. India and Indians are under threat and each one of us have the power to make a difference. Let's support and care for each other as much as we can in this time of crisis. #Istandwithhumanity," he tweeted.

Kiara Advani and Rakul Preet Singh also pledged to contribute towards the initiative.

"Let's contribute! While some of us are safe at home, we can help those struggling right now... donate," Kiara said.

Rakul tweeted, "I support this noble initiative. Happy to contribute for this humanitarian cause. While staying safe at home, I urge every one else also to contribute online."

Actor Varun Sharma said, "I pledge to contribute & support this initiative #iStandWithHumanity"

"In times like these, we need to step up for the ones in need. I'm happy to contribute for this humanitarian cause. And guys whoever can help, you all can also contribute online," actor Sidharth Malhotra tweeted.

Filmmaker Nitesh Tiwari wrote, "There are a lot of daily wage earners who need our help during this tough time. Please help as much as you can. Here's the link to contribute online."

Actor Bhumi Pednekar said it was important to get together and help those who are "vulnerable and in need".

Actor Dia Mirza said, "We are in this together. YES we will help #DailyWageEarners get through this with hope and dignity. I am contributing to this effort and I hope many others in our fraternity will do as well."

Filmmakers Aanand L Rai and Sanjay Gupta have also backed the cause.

"One of the greatest gift a person can give another, is support. I whole heartily support this noble initiative. While staying safe at home, I urge every one else also to contribute online," Aanand tweeted.

Gupta called upon the public to help the daily wage-earners through the initiative.

On March 18, the Producers Guild of India had announced that they have set up a relief fund for daily wage-earners impacted by the shutdown of film, television and web productions amid coronavirus pandemic.

Their decision came after many filmmakers, including Sudhir Mishra, Vikramaditya Motwane and Anurag Kashyap, raised concerns over the impact of shutdown on the daily wage workers.

South star Pawan Kalyan announced on Twitter that he will donate Rs 1 crore to PM relief fund.

B N Tiwari, President of Federation of Western India Cine Employees (FWICE), however, claimed there has been no help from Bollywood personalities or the Producers Guild of India so far.

"In the South, Rajinikanth has donated Rs 50 lakh which is a great thing. But here, we haven't received any call or help from anyone from Bollywood yet."

"There is one production company called Frames that produces TV shows, they have given ration worth Rs 25 lakh but it is stuck at Navi Mumbai and we haven't been able to give that to workers as they can't come here. We are toying with the idea of taking help of police authorities to give the ration to the workers," Tiwari told news agency.

Dubai, Jan 8: Iranian state television said on Wednesday that at least 80 "American terrorists" were killed in attacks involving 15 missiles Tehran launched on US targets in Iraq, adding that none of the missiles were intercepted.

State TV, citing a senior Revolutionary Guards source, also said Iran had 100 other targets in the region in its sights if Washington took any retaliatory measures. It also said US helicopters and military equipment were "severely damaged".

Iran launched missile attacks on US-led forces in Iraq in the early hours of Wednesday in retaliation for the US drone strike on an Iranian commander whose killing has raised fears of a wider war in the Middle East.