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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Agencies
May 26,2020

Dubai, May 26: An Indian expat, who recently recovered from COVID-19, fell to his death from a building in Dubai, police said.

The 26-year-old Indian national identified as Neelath Muhammed Firdous from Kerala, fell from the seventh floor balcony of his building where he stayed with six others including his uncle, Naushad Ali, 33.

A Dubai Police official confirmed the incident to Gulf News on Monday and said it had been a suicide.

"He was suffering from a mental disorder and there is no criminal suspicions behind his death," said the official.

"The incident happened on Sunday," the official confirmed.

The victim's relative said: "(He) awoke early to perform prayers and everyone was getting on with their daily morning chores when he walked to the balcony and jumped.

"He was suffering from a mental disorder and had been disturbed for some time. He thought everyone was out to attack him and had stopped eating his food as he thought people were feeding him poison. He was refusing to even take water from us."

The victim had tested positive for COVID-19 on April 10. On May 7, he was discharged from a Dubai hospital after clearing all tests.

The relative told Gulf News that he had registered the victim in the Department of Non-Resident Keralites Affairs (NORKA) last month in order to repatriate him, however he was unsuccessful in procuring a ticket.

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KT
April 13,2020

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)."

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News Network
January 3,2020

Hong Kong, Jan 3: Oil prices soared more than four per cent Friday following claims that the US had killed a top Iranian general, ratcheting up tensions between the foes and fuelling fears of a conflict in the crude-rich region.

The head of Iran's Quds Force, Qasem Soleimani, was hit in an attack on Baghdad international airport early Friday, according to Hased, a powerful Iraqi paramilitary force linked to Tehran.

Brent surged 4.4 per cent to USD 69.16 and WTI jumped 4.3 per cent to 63.84.

“Oil prices still have room for further upside as many analysts are still having to upgrade their demand forecasts to include a rather calm period on the trade front,” Moya said, referring to the warming trade relation between China and the United States.

“President Trump is likely to take a break on being ‘tariff man’ until we get beyond the presidential election in November.”

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