King seeks world action to end Syria bloodshed

December 7, 2016

Manama, Dec 7: Regional security and economy top the list of issues being discussed at the two-day Gulf Cooperation Council (GCC) summit taking place in the Bahraini capital.

King

In the opening session of the 37th GCC summit, Custodian of the Two Holy Mosques King Salman commended the council’s achievements since the previous meeting, including the establishment of the GCC Commission of Economic and Development Affairs last month.

“This aims at elevating the level of collaboration between the Gulf states,” said King Salman, who stressed the need to intensify collective efforts to guarantee regional stability amid the challenges facing the Arab world, including “terrorism, domestic struggle and bloodshed.”

He added: “We are all in pain at what is happening in Syria and what the Syrian people are going through.”

King Salman added that this highlighted the need for the “international community to end the bloodshed and reach a political solution to achieve security and stability in Syria.”

Kuwaiti Emir Sheikh Sabah Ahmad Al-Jaber Al-Sabah said the Gulf region was facing economic challenges triggered by the drop in oil prices. He added that the summit coincided with rapid international changes. Bahrain’s King Hamad bin Isa Al-Khalifa said the summit came at a time of unprecedented economic and political challenges facing the region.

Bahrain’s Crown Prince Salman bin Hamad Al-Khalifa met Tuesday with British Prime Minister Theresa May, who is the guest of honor at the summit.

The crown prince said the meeting with May reflected the importance of the UK’s strategic ties with Bahrain and the GCC.

Manama is the third destination in King Salman’s Gulf tour, following visits to the UAE and Qatar. He will then head to Kuwait, which concludes the tour.

King Salman led the Saudi delegation to the summit, which started with King Hamad’s inaugural speech.

The Bahraini king thanked King Salman for his efforts during the previous GCC session, lauding his wisdom in dealing with the challenges ahead.

King Hamad also thanked the GCC leaders for contributing to enhancing brotherly relations among the GCC countries, saying: “In light of the political and economic developments in the world, GCC states need more cooperation and integration. The Gulf council is an important platform for enhancing regional and international security and stability through active

political initiatives vis-à-vis regional conflicts and through preventing foreign interference in its internal affairs.”

The king also thanked GCC Secretary-General Abdullatif Al-Zayani for his efforts to follow up on and implement the council’s decisions.

King Salman said in Yemen, efforts are being exerted to end the struggle and achieve security and stability under a legitimate government and according to the GCC initiative and UN Security Council Resolution 2216, issued thanks to the efforts of the UN special envoy to Yemen.

The king said the GCC countries are gearing for a better future that meets the aspirations of their citizens for more prosperity and dignified living, and achieves security and stability in the region.

Kuwait’s emir highlighted the need to bolster GCC cooperation to attain further accomplishments that will reinforce solidarity among the Gulf nations. He said the scourge of terrorism, which poses a threat to regional security and stability, could only be countered through concerted efforts.

He said there was a need for a constructive dialogue between the GCC and Iran, and urged Tehran to cease meddling in the internal affairs of other nations.

Al-Zayani highlighted the importance of deepening integration in all fields, pointing out that the ministerial council submitted recommendations aimed at enhancing joint GCC action.

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Agencies
March 15,2020

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.

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Agencies
February 5,2020

Paris, Feb 5: Saudi Arabia has reported an outbreak of the highly pathogenic H5N8 bird flu virus on a poultry farm, the World Organisation for Animal Health (OIE) said on Tuesday, February 4.

The outbreak, which occurred in the central Sudair region, killed 22,700 birds, the OIE said, citing a report from the Saudi agriculture ministry.

The other 385,300 birds in the flock were slaughtered, it said.

The case was the first outbreak of the H5N8 virus in Saudi Arabia since July 2018.

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Agencies
June 28,2020

Kuwait, Jun 28: Measures imposed to curb the spread of the novel coronavirus in Kuwait are believed to have increased suicide cases in the country, according to a media report.

Forty suicide cases and 15 failed attempts, mainly among Asian expatriates, have been recorded in Kuwait since late February, Gulf News quoted the Al Qabas newspaper report, citing sources as saying on Saturday.

Investigations into the majority of cases have revealed that those who committed suicide had experienced psychological and economic troubles due to dire financial circumstances after their employers stopped to pay them as a result of economic fallout from the coronavirus-related measures.

In one case, an expat livestreamed his suicide while chatting with his fiancee on a social networking platform, the newspaper report said.

Suicide cases have increased by around 40 per cent since the start of the COVID-19 crisis, according to the sources.

Some 70 to 80 suicide cases are recorded annually in Kuwait. Last year, they reached 80 suicides against 77 in 2018.

"Suicide cases have started to go up in Kuwait during the coronavirus pandemic due to fear, anxiety, isolation and instability experienced by people and absence of daily aims that could help the person to spend time regularly as before," the newspaper quoted social psychology consultant Samira Al Dosari as saying.

Uncertainty for some expatriates, whose countries have refused to take them in, is another motive for attempting suicide, according to Jamil Al Muri, a sociology professor at the Kuwait University.

"This is in addition to greed of the iqamat traders, who have brought into the country workers in names of phantom companies and abandoned them on the streets," he added.

Starting from Tuesday, Kuwait will embark on the second phase of a stepwise plan to bring life to normal, Gulf News reportd.

According to Phase 2, a nationwide night-time curfew will be reduced by one hour to run daily from 8 p.m. until 5 a.m. for three weeks.

Kuwait has so far reported 44,391 COVID-19 cases, with 344 deaths.

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Angry indian
 - 
Tuesday, 30 Jun 2020

YA ALLah save all dispressed people in the earth..

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