Kingdom deplores baseless criticism over maid’s execution

Dubai, July 6: Even as the world’s one of the most sought after tourist destinations is gearing up to welcome foreign tourists from July 7, the authorities have taken necessary measures to prevent the spread of covid-19.

If the foreign tourists want to avoid self-isolation after landing in Dubai International Airport, they have to fetch covid-negative certificates from their home country. The certificate ought to have been issued up to 96 hours prior to the travel.

Those without a cvid-negative certificate, however, will need to undergo a PCR test on arrival at the Dubai airports and self-isolate until they receive their negative results.

"If passengers opt to take the PCR test on arrival in Dubai, they must self-isolate until test results are received. If the test result is negative, passengers can leave the hotel and enjoy the trip as normal. However, if the test result is positive, passengers are asked to follow the advice of the Dubai Health Authority and self-isolate," Emirates said in a statement.

Budget carrier flydubai said if a passenger tests positive for Covid-19, he/she would need to observe a 14-day quarantine. The airline also advised passengers to comply with all the precautionary Covid-19 measures in place in Dubai "including wearing a mask, observing social distancing and washing your hands regularly".

Tourists with Covid-19 symptoms

* If a traveller is suspected to have Covid-19 symptoms, Dubai Airports has the right to re-test to ensure the tourist is free of the virus

*It is mandatory for Covid-positive tourists to isolate themselves at an institutional facility provided by the government for 14 days at their own expense.

Other requirements

*Travel insurance: Tourists must have a travel insurance with Covid-19 cover or declare that they would bear the costs for treatment and isolation if required. "Bring an insurance certificate stating Covid-19 coverage to present at check-in," Emirates said.

*Visa: Referring to visa requirements, Emirates said: "Depending on your nationality you can get a visa on arrival, or you can apply for your visit visa from Dubai Immigration before you travel."

*Health Declaration Form: Tourists need to complete the form that states they are free from Covid-19 symptoms. This must be done before embarking.

*Tracing app: Tourists must download the Covid-19 DXB app and register details. "This is critically important since it facilitates easy coordination and communication with the health authorities if tourists experience Covid-19 symptoms," Dubai authorities had said earlier.

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.

Mar 11: Energy giant Saudi Aramco on Wednesday said it plans to raise its crude production capacity by one million barrels per day to 13 million bpd as a price war with Russia intensifies.

"Saudi Aramco announces that it received a directive from the ministry of energy to increase its maximum sustainable capacity from 12 million bpd to 13 million bpd," the company said in a statement to the Saudi Stock Exchange.

The decision comes a day after the world's top exporter, Saudi Arabia, decided to hike production by at least 2.5 million bpd to a record 12.3 million from April.

The Saudi moves come after the collapse of an oil production reduction agreement between OPEC and non-OPEC producers, including Russia.

The deal proposed by Saudi Arabia called for additional output cuts of 1.5 million bpd to cope with the severe economic impact of the coronavirus which has sharply reduced world demand for crude.

Boosting production capacity normally takes a long time and requires billions of dollars of investment.

Several years ago, the kingdom had shelved plans to boost its crude production capacity beyond 12 million bpd after demand for OPEC oil declined in the face of stiff competition from North American shale oil and other sources.

Russia on Tuesday said it was open to renewing cooperation with the OPEC cartel even as its kingpin Saudi Arabia escalated a price war with Moscow by announcing it would flood markets with new supplies.

The oil price war broke out after OPEC and a group of non-member countries dominated by Russia -- the world's second largest producer -- on Friday failed to agree on production cuts.

Saudi Arabia responded by announcing unilateral price cuts. This prompted the oil price to plummet and fuelled huge falls on stock markets around the world on Monday.