Expats who went for illegal Haj to be sacked, deported

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.

Dubai, Jun 16: In a humanitarian gesture, a UAE-based Pakistani businessman has come forward to offer free interim accommodation options to covid lockdown hit expatriates. 

The men benefitted from Ali Rao's housing initiative include Indians, Pakistanis and Africans. 

Inspired by the ongoing efforts taken by the UAE leadership to take care of all UAE residents, Ali Rao, CEO of Rao Holdings LLC in Dubai is offering free shared accommodation to unemployed male bachelors and workers, especially expatriates who do not have a place to stay.

Ali Rao currently has a capacity of 100 accommodation options that he wishes to offer to those who cannot afford house rent. 

"We have already placed 25 such men in these housing options spread across Al Quoz, Jebel Ali and Muhaisnah areas of Dubai," Ali Rao told local media. He works in collaboration with major charities in Dubai, who refer the cases to Rao.

"One of our companies - the property management division - deals with industrial housing accommodation. We decided to put this space to good use when I came across media articles that highlighted the plight of these homeless men," he said. 

Rao has already sheltered 25 homeless workers in the Al Quoz area. "We have received applications for 35 more, however, many of these men are due to return to their home countries, so we are awaiting confirmation from the charities," he explained. He has provided them with free Wi-Fi, bedding, blankets, bedsheets, and pillows.

"In one unit, we provide them with food and the other unit, social workers and the associated charities deliver food," he added. The housing is exclusively for men and not for women and families. "Many are seeking jobs, so they needed Wi-Fi. I went to the camps today and set up a Wi-Fi connection. Someone wanted to eat eggs, so we got him some eggs and rice. These are simple things most of us take for granted, but to many people this is vital," he added.

Since most of the residents are looking to return to their home countries, Rao is also in the process of providing them with air tickets.

"If the need arises, we will add more units," he explained. Rao said, "The ongoing pandemic has hit everyone hard, especially those with no security to fall back on. The economic and income disparities have only increased in this time, with those dependent on daily wages being rendered homeless in massive numbers across the globe."

He added, "I felt heartbroken and if I would stand by and watch, I would feel very small as a human being, I won't be able to stand in front of the creator I thought to myself. These are some very difficult times for all of us."

A beneficiary of the programme said, "I am very happy with this initiative as living outside in the summer is very difficult. It's very hot. I want to thank God and this company for providing me with a roof over my head."

Dubai, Apr 13: The UAE Ministry of Health and Prevention (MoHAP) on Monday announced 172 new recoveries in the country, taking the total recoveries to 852 cases.

"With today's 172 cases, the total number of fully recovered Covid-19 patients has become 852, while three residents of different nationalities were declared dead, taking the total number of deaths to 25," Dr Farida Al Hosani, spokeswoman for the ministry, said.

"We have also carried out up to 23,380 new tests on Monday all over the country."

Also read: UAE residency, visit visas valid until end-2020

Dr Hosani said His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has launched the national home-based testing programme for determined people, be they nationals or residents.

"The program, targeting this important segment of the society who have difficulty doing tests outdoors, is part of the national drive-through testing national program."

Addressing some baseless rumours that are viral on social media, Dr Al Hosani confirmed that no one can fix a date for the peak of infected cases.

"So many studies have affirmed that physical distancing is so critical in reducing not only the number of Cobid-19 new cases but also the infection curve."

Dr Al Hosani advised the public to wear gloves whenever they go out. "However, do not touch your personal stuff when wearing gloves, particularly when using your phone, and safely dispose of them."

It is still so critical to clean your hands with water and soap on a regular basis, she underlined. "Cleaning and washing our hands are much better and safer than wearing gloves."

Wearing one-time disposable surgical gloves is highly advisable, she said. "If not available, hand-made cloth masks can be used but need to be cleaned regularly with water and soap."

Masks should be worn properly covering the nose, mouth and the chin, she pointed out. "Do not touch the internal or external parts of the face masks, while the blue colour side must be always outward."

Priority in drive-through tests are given for those with respiratory issues, senior people, and pregnant women, she said in answer to a question raised by media people.

"If you are developing no Covid-19 infection symptoms and just wish to make sure you are sound, you need to book an appointment, be aware that it will cost you Dh370."

"If developing minor symptoms, the public is urged to stay home and call any of these toll-free numbers for help: (800011111), (8001717), (800342)."