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Rulers offer Eid Al Adha prayers, meet well-wishers

October 16, 2013

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Dubai, Oct 16: Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai; Shaikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance; Shaikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai; Shaikh Majed bin Mohammed bin Rashid Al Maktoum, Chairman of Dubai Culture and Arts Authority; Shaikh Mansour bin Mohammed bin Rashid Al Maktoum and a number of Shaikhs offered prayers along with Shaikh Mohammed.

Shaikh Mohammed later received well-wishers at Zabeel Palace. Also present were Shaikh Hamdan; Shaikh Hamdan bin Rashid, Shaikh Maktoum; and Mohammed Ahmed Al Murr, Speaker of the Federal National Council.

Ministers, dignitaries, top officials and members of Arab and Islamic communities in the country also offered Eid greetings, wishing good health for the UAE leadership and progress and welfare for the country.

His Highness Dr Shaikh Sultan bin Mohammed Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, offered Eid prayers at Al Badee Musalla in Sharjah.

A number of Shaikhs, members of the Sharjah Executive and Consultative Councils and dignitaries also offered prayers with the Sharjah Ruler.

Later, Dr Shaikh Sultan received well-wishers at Al Badee Al Amer Palace, in the presence of Shaikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah; and Shaikh Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah. The well-wishers wished him good luck, more progress for the UAE under its wise leadership of the President, His Highness Shaikh Khalifa bin Zayed Al Nahyan, and Their Highnesses the Rulers of the Emirates.

Greetings were also received from top officials, dignitaries, members of the Sharjah Executive and Consultative Councils, heads of federal and local departments, senior police officers, educational figures, tribal leaders, Emiratis and expatriate residents.

His Highness Shaikh Saud bin Saqr Al Qasimi, Member of the Supreme Council and Ruler of Ras Al Khaimah, offered Eid prayers at the Grand Eid Musalla in the Khuzam area of Ras Al Khaimah.

Shaikh Mohammed bin Saud bin Saqr Al Qasimi, Crown Prince of Ras Al Khaimah; a number of Shaikhs, citizens and members of Arab and Islamic communities also offered prayers along with the RAK Ruler.

After the Eid prayers, Shaikh Saud and RAK Crown Prince Shaikh Mohammed received well-wishers at Khuzam Palace.

Greetings were received from Shaikhs, dignitaries, top officials and heads of local and federal departments and police officers.

His Highness Shaikh Hamad bin Mohammed Al Sharqi, Member of the Supreme Council and Ruler of Fujairah, offered Eid prayers at the Grand Musalla in Fujairah.

Shaikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah, offered prayers with the Fujairah Ruler.

Shaikh Hamad later received well-wishers at Al Rumaila Palace. Greetings were received from Shaikhs, key officials, dignitaries, heads of federal departments, top army and police officers, members of Arab, and Islamic and Foreign communities wishing him good health, and the UAE under the leadership of the President, His Highness Shaikh Khalifa bin Zayed Al Nahyan, more progress and prosperity.

His Highness Shaikh Saud bin Rashid Al Mualla, Member of the Supreme Council and Ruler of Umm Al Quwain, and Shaikh Rashid bin Saud bin Rashid Al Mualla, Crown Prince of Umm Al Quwain, offered Eid prayers at the Shaikh Zayed Mosque.

Shaikh Saud later received a group of well-wishers who came to greet him on the occasion of Eid. Shaikh Saud received greetings from Shaikhs, heads of the local and federal departments, senior officials, tribal leaders, Emiratis and expatriates. They all wished the Umm Al Quwain Ruler well, and wished more prosperity to the UAE. The Ruler also accepted greetings from senior police officers and officials.

General Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, performed Eid prayers on Tuesday morning at the Zayed Grand Mosque.

Lt. General Shaikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior; Shaikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs; Dr Shaikh Sultan bin Khalifa Al Nahyan, Adviser to the UAE President; Shaikh Nahyan bin Mubarak Al Nahyan, Minister of Culture, Youth and Community Development; Shaikh Hamdan bin Mubarak Al Nahyan, Minister of Higher Education and Scientific Research; a number of Shaikhs, senior military and civilian officials, members of diplomatic corps, and a group of Emirati and expatriates offered prayers along with Gen. Shaikh Mohammed.

General Shaikh Mohammed later received a number of well-wishers at Al Mushrif Palace.

Gen. Shaikh Mohammed also received and exchanged Eid greetings with Crown Princes and Deputy Rulers. He exchanged greetings with Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council; Shaikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai; Shaikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah; Shaikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah; Shaikh Rashid bin Saud bin Rashid Al Mualla, Crown Prince of Umm Al Quwain, Shaikh Abdullah bin Rashid Al Mualla, Deputy Ruler of Umm Al Quwain; Shaikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman; Mohammed Ahmed Al Murr, Speaker of the Federal National Council and Abdullah Al Masoud, Chairman of the National Consultative Council.

He also exchanged greetings with a number of Shaikhs, senior officials and a number of senior armed forces’ officers, senior police officers, senior security officers, members of the diplomatic corps, representatives of international organisations, dignitaries, Emiratis and expatriates.

The well-wishers extended their greetings to the President, His Highness Shaikh Khalifa bin Zayed Al Nahyan, wishing prosperity to the UAE.

Gen. Shaikh Mohammed expressed his gratitude to the well-wishers, wishing more prosperity, security and stability to the UAE.

Shaikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in the Western Region, offered Eid prayers at Muzairah Palace Mosque, Liwa, in the Western Region. A number of key officials and dignitaries, Emiratis and expatriate residents offered prayers along with Sheikh Hamdan.

Later, Shaikh Hamdan bin Zayed received well-wishers at Muzairah Palace. Greetings were also received from top officials, dignitaries of the Western Region, military and police officers, Emirati citizens and expatriate residents.

Shaikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, received church leaders and clergymen on Tuesday at Zabeel Palace.

They called on Shaikh Hamdan to greet him and Emiratis on the advent of Eid, wishing more progress and prosperity for the UAE under its prudent leadership.

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News Network
January 12,2020

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.

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News Network
May 7,2020

Dubai, May 7: Saudi Arabia will emerge as the victor of the oil price war that sent global crude markets into a spin last month, according to two experts in the energy industry.

Jason Bordoff, professor and founding director of the Center for Global Energy policy at New York’s Columbia University, said: “While 2020 will be remembered as a year of carnage for oil nations, at least one will most likely emerge from the pandemic stronger, both economically and geopolitically: Saudi Arabia.”

Writing in the American publication Foreign Policy, Bordoff said that the Kingdom’s finances can weather the storm from lower oil prices as a result of the drastically reduced demand for oil in economies under pandemic lockdowns, and that it will end up with higher oil revenues and a bigger share of the global market once it stabilizes.

Bordoff’s view was reinforced by Sir Mark Moody-Stuart, former chairman of Royal Dutch Shell and one of the longest-standing directors of Saudi Aramco. In an interview with the Gulf Intelligence energy consultancy, he said that low-cost oil producers such as Saudi Arabia would emerge from the pandemic with increased market share.

“Oil is the only commodity where the lowest-cost producers have contained their production and allowed high-cost producers to benefit. When demand recovers this year or next, we will emerge from it with the lowest-cost producers having increased their market share,” Moody-Stuart said.

Bordfoff said that it would take years for the high-cost American shale industry to recover to pre-pandemic levels of output. “Depending on how long oil demand remains depressed, US oil production is projected to decline from its pre-coronavirus peak of around 13 million barrels per day.

“Shale's heady growth in recent years (with production growing by about 1 million to 1.5 million barrels per day each year) also reflected irrational exuberance in financial markets. Many US companies struggling with uneconomical production only managed to stay afloat with infusions of cheap debt. One quarter of US shale oil production may have been uneconomic even before prices crashed,” he said.

Moody-Stuart said that recent statements about cuts to the Saudi Arabian budget as a result of falling oil revenues were “an important step to wean the population of the Kingdom off an entitlement feeling. It means that everybody is joining in it.”

The former Shell boss said that other big oil companies would follow Shell’s recent decision to cut its dividend for the first time in more than 70 years. But he added that Aramco would stick by its commitment to pay $75 billion of dividends this year.

“When a company looks at its forecasts it looks ahead for one year, so for this year it (the dividend) is fine,” he said.

Bordoff added that Saudi Arabia’s action in cutting oil production in response to the pandemic would improve its global position.

“Saudi Arabia has improved its standing in Washington. Following intense pressure from the White House and powerful senators, the Kingdom’s willingness to oblige by cutting production will reverse some of the damage done when it was blamed for the oil crash after it surged production in March,” he said.

“Only a few weeks ago, the outlook for Saudi Arabia seemed bleak. But looking out a few years, it’s difficult to see the Kingdom in anything other than a strengthened position,” Bordoff said.

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News Network
May 19,2020

Abu Dhabi: The United Arab Emirates today reported 873 new coronavirus cases, pushing the total number of COVID-19 infections in the country to 25,063.

Three more people have died from the virus, bringing the total death toll to 227, the ministry revealed, adding that a total of 1,214 COVID-19 patients have made full recovery, which takes the overall number of patients recovered to 10,791.

The latest coronavirus patients, all of whom are in a stable condition and receiving the necessary care, were identified after conducting more than 38,000 additional COVID-19 tests among UAE citizens and residents over the past few days, the ministry said.

It expressed its sincere condolences to the families of the deceased and wished a speedy recovery to all patients, calling on the public to cooperate with health authorities and comply with all precautionary measures, particularly social distancing protocols, to ensure the safety and protection of the public.

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