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Oil prices likely to climb by end of 2016: Aramco

January 27, 2016

Riyadh, Jan 27: Saudi Arabia’s oil giant expects oil prices to climb toward the end of the year, saying the current price of around $30 a barrel is not sustainable.

aramco

Saudi Aramco’s CEO Amin Nasser, speaking Tuesday at the 9th Global Competitiveness Forum, said there are indications that demand for oil picked up last year and that the gap between supply and demand has been shrinking, which could drive prices up.

Nasser would not give a precise price range. He said: "Our prediction is we will see some adjustment," though not a return to the $100 barrel range of two years ago.

Brent crude, a benchmark for international oils, was trading Tuesday at $31.13 a barrel in London.

Meanwhile, Housing Minister Majed Al-Hogail said 1.5 million housing units would be built throughout the Kingdom in the next seven years.

Al-Hogail was taking part in a panel discussion on “Low oil, high growth: Prospering in a low-oil era,” at the forum which concluded on Tuesday.

He said currently there is a need for about 1.5 million units, which are expected to be completed in seven years. He stressed that the ministry is currently working out details to provide affordable prices for the houses by benefiting from the low cost of building materials.

“We call on local and international real estate to pump in more investment for the housing projects which will demand some SR1.5 trillion during the next five years.” He said low oil prices would not affect the housing program in the Kingdom.

In a separate session, Education Minister Ahmed Al-Issa said his ministry plans to privatize some government schools, which would be run by establishments managed by academics. He was delivering the keynote address on “Perspectives on education in Saudi Arabia.”

He elaborated: “The selected public schools will run as independent institutions managed by small or medium-sized economic institutions headed by qualified educationists. The facilities, services, curriculum and the tutorial staff will be in accordance with the guidelines of the Ministry of Education.”

He pointed out that the ministry is working through three basic approaches to reform the education system in the country, which targets the student, the community and the country in general.

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News Network
May 10,2020

Dubai, May 10: Kuwait will enact a "total curfew" from 4pm (1300 GMT) on Sunday through to May 30 to help to curb the spread of the new coronavirus, the Information Ministry said on Twitter on Friday.

Further details of the curfew will be announced soon, it said.

Kuwait on April 20 expanded a nationwide curfew to 16 hours a day, from 4pm to 8am, and extended a suspension of work in the public sector, including government ministries, until May 31.

On Friday the Gulf state announced 641 new coronavirus cases and three deaths, bringing its total number of confirmed cases to 7,208, with 47 deaths.

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Agencies
August 2,2020

Kuwait, Aug 2: Kuwait has barred entry of foreign passengers from over 30 countries including India and China.

A circular from the Director General Civil Aviation, State of Kuwait directed all airlines operating at Kuwait International Airport to adhere to the instructions in this regard.

"Based on the decision of the Health Authority in State of Kuwait, no foreign passenger coming from the down listed countries will be allowed to enter the State of Kuwait," the circular read.

These include- India, Iran, China, Brazil, Colombia, Armenia, Bangladesh, Philippines, Syria, Spain, Singapore, Bosnia and Herzegovina, Sri Lanka, Nepal, Iraq, Mexico, Indonesia, Chile, Pakistan, Egypt, Lebanon, Hong Kong, Italy, North Macedonia, Moldova, Panama, Beirut ,Serbia Montenegro, Dominican Republic and Kosovo.

The circular stated that such restriction will also include the passengers were present 14 days before the date of travel until further notice.

The ban was announced the same day Kuwait began a partial resumption of commercial flights according to Khaleej Times, which quoted authorities stating that Kuwait International Airport would run at about 30 per cent capacity from Saturday, gradually increasing in coming months.

According to the latest data from Johns Hopkins University, Kuwait has reported 67,448 cases of coronavirus while the fatalities related to the virus stand at 453.

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Agencies
July 19,2020

Occupied Jerusalem, Jul 19: Israeli Prime Minister Benjamin Netanyahu’s corruption trial resumed on Sunday.

Netanyahu is charged with fraud, breach of trust and accepting bribes in a series of scandals in which he is alleged to have received lavish gifts from billionaire friends and exchanged regulatory favors with media moguls for more agreeable coverage of himself and his family.

Netanyahu denies wrongdoing, painting the accusations as a media-orchestrated witchhunt pursued by a biased law enforcement system.

The trial opened in May. Just before appearing in front of the judges, Netanyahu took to a podium inside the courthouse and flanked by his party members bashed the country’s legal institutions in an angry tirade.

Netanyahu was not expected to appear at Sunday’s hearing, which is taking place at an occupied Jerusalem court and is mostly a procedural deliberation.

The trial resumes as Netanyahu faces widespread anger over his government’s handling of the coronavirus crisis.

While the country appeared to have tamped down a first wave of infections, what’s emerged as a hasty and erratic reopening sent infections soaring. Yet even amid the rise in new cases Netanyahu and his emergency government — formed with the goal of dealing with the crisis — appeared to neglect the numbers and moved forward with other policy priorities and its reopening plans.

It has since paused them and even re-impose restrictions, including a weekend only lockdown set to begin later this week.

Netanyahu’s government has been criticized for a baffling, halting response to the new wave, which has seen daily cases rise to nearly 2,000. It has been slammed for its handling of the economic fallout of the crisis.

His trial thus comes at inopportune timing. Netanyahu had hoped to ride on the goodwill he gained from overcoming the first wave of infections going into his corruption trial, but the increasingly souring mood has affected his approval rating and may deny him the public backing he had hoped for. The anger has sparked protests over the past few weeks that have culminated in violent clashes with police.

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