Saudi Arabia allows private companies to cut salaries by 40%

Dubai, Mar 5: A 16-year-old Indian girl here has tested positive for the deadly coronavirus, bringing the total number of confirmed infection cases in the UAE to 28, according to media reports.

Health officials here confirmed on Wednesday that a new coronavirus case was detected in the girl who attended an Indian school in Dubai, Al-Arabiya website reported.

The girl tested positive for the COVID-19 after she contracted the infection from her father who travelled overseas, Dubai Health Authority (DHA) was quoted as saying by the report.

The Indian High School in Dubai will be closed from Thursday as a precautionary measure, the Gulf News reported.

"As a precautionary measure, Indian High School Group of schools is closed from Thursday, March 5. Detailed circular about exams will be mailed. Your well-being is important. Take care," the report said.

The father developed symptoms of the virus five days after returning to Dubai. Both the student and family members have been quarantined in hospital and are stable and recovering well. All other family members have also been quarantined, the Khaleej Times reported.

"Within the framework of comprehensive preventive measures against the spread of coronavirus, the DHA is conducting tests and monitoring the students, staff and workers of the school that may have interacted with the coronavirus patient," the DHA was quoted as saying by the Gulf News.

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.

Kuwait City, Jul 19: Kuwaiti ruler Sheikh Sabah al-Ahmad al-Jaber al-Sabah has successfully undergone surgery early on Sunday, the emir's office said.

"His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah ... has undergone surgery this morning, with thanks to God for its success," the head of the emir's office Sheikh Ali Jarrah al-Sabah said, as quoted by state news agency KUNA.

The 91-year-old was admitted to hospital for a medical checkup.

Yesterday, a royal order was issued assigning Crown Prince Sheikh Nawaf al-Ahmed al-Sabah, the emir's designated successor, "to take over some constitutional jurisdictions of His Highness the Emir temporarily"

In August 2019, Kuwait acknowledged the emir suffered an unspecified medical "setback" that required him to be hospitalised.