Saudi Arabia has no plans of changing peg to US dollar

Dubai, Apr 16: Brand Dubai, the creative arm of the Government of Dubai Media Office (GDMO), unveiled a series of outdoor ads that form part of its new campaign to encourage the community to stay home.

Featuring the slogan 'For My Sake #StayHome for Us', the campaign depicts stunning artwork developed in collaboration with Emirati artist Maitha Demithan. The ads have been displayed on billboards, lamp posts and digital screens across Dubai.

The campaign reinforces the importance of staying at home in line with the strict restrictions on movement put in place by Dubai's Supreme Committee of Crisis and Disaster Management as part of intensified measures to combat Covid-19.

Nehal Badri, Director of Brand Dubai, said: "The outdoor campaign, displayed in prominent locations across Dubai, was designed to illustrate the importance of staying at home during the current sensitive period. Using Maitha Demithan's stunning creative artwork, we sought to send out a clear message to the community that staying at home is vital to safeguard the wellbeing of our loved ones. 

This project is one of a series of initiatives launched in collaboration with UAE-based artists to raise awareness about the need to unite efforts to protect vulnerable people from the risk of infection."

Emirati artist Maitha Demithan said: "It has been a privilege for me to work on this project and an honour to serve my country through my artworks. The three portraits featured in the campaign create a triptych that represents the people who are the most vulnerable to being infected by the virus. During such difficult times, art can play a crucial role in raising awareness on how to stay safe, but most importantly it can keep everyone inspired. I encourage all my fellow artists and the creative community to continue practicing social distancing and stay connected by using their creativity and innovation to raise awareness during this period."

Brand Dubai partnered with several media outlets, including Media 24/7, Arabian Outdoor Media and Hypermedia to launch the outdoor ads. The ads are displayed on Sheikh Zayed Road, Dubai Marina.

Mar 28: Just hours after Prime Minister Narendra Modi spoke to the Abu Dhabi crown prince on the Coronavirus Pandemic, India “thanked the UAE authorities for accommodating the 19 Indian nationals who were stuck at Dubai airport for past several days”.

The Indian mission in Dubai tweeted, “They got stranded due to various restrictions to deal with Covid-19 pandemic. Hotel rooms have been given to them inside the airport. Our Consulate had been in constant touch with the Indian nationals and UAE and Indian authorities. We had also provided some financial help to enable our stranded passengers to buy food. The situation was tough due to the pandemic situation.”

During their conversation last evening, Abu Dhabi crown prince Sheikh Mohammed Bin Zayed Al Nahyan had “assured Prime Minister Narendra Modi about the welfare of the over two million Indians living in UAE and contributing to its economy”. PM Modi “thanked the Crown Prince for his personal attention to the health and safety of Indian expatriates in the present situation”.    

A statement issued late on Thursday night by the MEA said, “The two leaders exchanged information and views on the ongoing COVID-19 pandemic, the situation in their respective countries, as well as the steps being taken by their Governments. They agreed that the next few weeks would be crucial to control the spread of the virus, and required concerted and coordinated efforts by all countries. In this context, they appreciated the organisation of a Virtual Summit among G20 Leaders earlier in the day, to discuss the pandemic.

Both leaders emphasised the importance they attach to the strength and richness of the bilateral relationship. They agreed to maintain regular consultations between their officials in the present situation, particularly to ensure continuity of logistical supply lines.”

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.