Covid-19 increases suicide rates among expats in Kuwait

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.

Riyadh, May 27: Following the announcement of easing of lockdown measures, which includes reopening of all mosques for daily congressional as well as Friday prayers across the Kingdom except the holy city of Makkah, the Ministry of Islamic Affairs, Call and Guidance has set mandatory guidelines.

In a circular issued to mosque staff, Minister of Islamic Affairs, Call and Guidance Sheikh Abdullatif Al-Asheikh has instructed that all mosques must comply with the following precautionary measures and instructions:

1. Open mosques 15 minutes before the Adhan and close them 10 minutes after prayer

2. Reduce the waiting period between the Adhan and Iqamah to 10 minutes

3. Open windows and doors from entering time to the end of the prayer

4. Remove copies of Holy Qur’an and other books temporarily from mosques

5. Ensure attendees keep a distance of two meters between each other

6. Ensure one space is left between each row

7. Close all water coolers and refrigerators

8. Do not allow distribution of water or food in mosques

9. Close toilets and places of ablution

Precautionary measures on Friday prayers are as follows:

1. Open mosques 20 minutes before Friday prayer and closing them 20 minutes after prayer.

2. Friday sermon with prayer should not exceed 15 minutes.

The circular also stipulates to keep the suspension of the religious courses, programs and lectures, as well as the memorizing Holy Qur'an sessions in the mosques and to continue education and lectures remotely until further notice.

The circular pointed out that the imams of mosques should urge the worshipers to take the following precautionary measures:

1. Wear a face mask

2. Bring their own prayer rugs and not leave them after the prayer

3. Prevent accompanying children under 15 years of age from entering mosques

4. Perform ablution at home

5. Avoid crowding when entering or exiting mosques

Meanwhile, the spokesman of the Ministry of Interior clarified later in the day that people are allowed to perform congressional prayers in their locality during the time of curfew.

Dubai, Jun 26: As summers in Dubai bloom in its full glory, the most savoured summer fruit - Mongo - is getting the most special treatment in the city as it gets delivered to customers via an emperor like ride of a Lamborghini.

As per a video report by Gulf News, the Pakistan Supermarket in Dubai is delivering the king of fruits to the doorsteps of its customers in a green coloured Lamborghini to match the level of its supremacy among fruits.

"The king should travel like a king," says the managing director of the store, Mohammad Jehanzeb who delivers the pulpy fruit by himself and also takes the customers on a short ride in the luxury car.

In order to avail the offer rolled out on the Facebook page of the famous supermarket, customers are required to make a minimum order of Dh100, reports the Gulf News.

"The idea is to put a smile on people's faces and make them feel special," says Jehanzeb who has put a smile on the face of dozens of Dubai residents amidst the throes of a pandemic with his 'Mangoes in Lamborghini' campaign.

The delicacy this year has gone viral with videos of delighted mango lovers taking a joy ride in the supercar doing rounds over the internet.

"The joy ride was essentially meant for kids who have been sequestered at homes because of the coronavirus but adults are equally thrilled at the prospect of getting behind the wheels of my Lamborghini Huracan. I am happy to oblige them too," says Jehanzeb.

"Each order takes about an hour. We do about 7-8 home deliveries a day but are hoping to ramp up the numbers to 12," he adds.

Arshad Khan who hails from the Indian city of nawabs - Lucknow- ordered the 'nawabi' varieties - Sindhri and Anwar Ratol - and said that his children were exhilarated after hearing the roar of the Lamborghini outside their Falcon City villa.

"For someone who hails from Lucknow -- the land of the famous dussheri and landga mangoes -- I was a bit skeptical about the taste of Pakistani mangoes. I ordered them for the sheer experience of seeing them come to my place in a luxury supercar," Gulf News quoted Khan as saying.

"It was quite exhilarating and I must confess that the mangoes were as delicious as the ones back home," he added.

Mango fruit has been a delicacy in the 16th-century Hindustan sub-continent. It holds a fascinating narrative in Babur Nama which is an autobiography of the Mughal emperor Zahiruddin Muhammad Babur.