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Saudi Arabia's crown prince dismissed: Royal decree

April 29, 2015

Riyadh, Apr 29: Saudi King Salman on Wednesday appointed interior minister Mohammed bin Nayef as his new heir, replacing the monarch's half brother prince Muqrin, and made his son, defence minister Mohammed bin Salman, second in line to succeed.

Saudi ArabiaHe also replaced veteran foreign minister Prince Saud al-Faisal, who had served in the role since March 1975, with the kingdom's Washington ambassador Adel al-Jubeir, the first non-royal to hold the post.

The changes signalled a major shift at the top of the ruling Al Saud family away from princes chosen by the late King Abdullah, who died in January, and towards those close to the new monarch.

In a decree published by state media, King Salman said the decision to replace Muqrin with Mohammed bin Nayef and to make his own son deputy crown prince had been approved by a majority of the family's Allegiance Council.

Mohammed bin Salman, who has been the most prominent face of Saudi Arabia's military campaign in Yemen, was replaced as head of the royal court by Ahmed al-Sweilam, the decree said.

The decree also appointed Saudi Aramco chief executive Khalid al-Falih as health minister and chairman of Aramco and made labour minister Adel al-Fakeih economy and planning minister, replacing him with Mufrej al-Haqbani.

Internal reshuffles in Saudi Arabia often move oil prices as stability in the world's biggest petroleum exporting country is key to global supplies.

Of particular interest to oil markets was Falih's appointment. His new post of chairman is a position so far held by veteran oil minister Ali al-Naimi, who remained in his post.

Traders said they were closely observing who would become Aramco's new CEO and whether oil minister Naimi's position would be impacted.

Naimi, who is 79 years old and has been oil minister since 1995, has seen several oil price crashes in his tenure, is seen as crucial in Saudi Arabia's decision last November to not cut production in support of prices, which have halved since June 2014.

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News Network
April 30,2020

Riyadh, Apr 30: Saudi Arabia on Thursday recorded 1,351 new coronavirus cases in the last 24 hours, bringing the total number of infections in the country to 22,753, the Ministry of Health said in a statement.

The ministry also announced 5 more deaths and 210 new recoveries, raising the total number of fatalities and recoveries to 162 and 3,163 respectively.

Riyadh with 440 cases topped the list, followed by 392 cases in Makkah, 120 in Jeddah and 119 in Madinah.

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News Network
January 16,2020

Dubai, Jan 16: The UAE Ministry of Climate Change and Environment on Wednesday announced that it has banned the import of birds, some eggs and meat products from Hungary and Slovakia.

The ministry said the decision was taken following a notification from the World Organization for Animal Health (OIE) on the outbreak of a highly pathogenic strain of bird flu, H5N2, in the two countries.

Accordingly, the ministry has banned "the import of all species of domestic and wild live birds, ornamental birds, chicks, hatching eggs, meats and meat products and non-heat-treated wastes from Hungary and Slovakia".

It has also regulated the import of poultry meat and non-heat-treated products, requiring a health certificate for the export of meat and meat products from the two countries to release consignments into the UAE.

A health certificate will be needed for the import of eggs, the ministry added.

However, thermally-treated poultry products (meat and eggs) have been cleared for import from all parts of Hungary and Slovakia.

Kaltham Ali Kayaf, Acting Director, Animal Development & Health Department at the ministry, said: "These measures reiterate the ministry's keenness in achieving its strategic objectives including enhancing bio-security levels and eliminating pathogens before they enter the country. In doing so, the ministry prevents the bird flu virus and related risks and impacts on the country's poultry health and safety, in addition to protecting public health and well-being."

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Agencies
July 28,2020

Dubai, Jul 28: Abu Dhabi Commercial Bank (ADCB) (ADCB.AD) is letting go hundreds of employees, sources said, the latest in a round of lay-offs by regional banks as pressure mounts to cut costs amid lower oil prices and the coronavirus crisis.

The UAE’s third-biggest lender is laying off 400 employees, two sources familiar with the matter said, after it had committed to not cutting staff because of the crisis.

In a statement, a spokesman said ADCB had pursued efficiency over the last decade by managing out its lowest underachievers after regular reviews, while ensuring talent was deployed in high-growth areas, such as digital banking.

“A certain number of redundancies are therefore expected every year in the normal course of business,” the bank spokesman added.

The sources said the cuts would involve ADCB’s consumer business and several in top management were among those being let go. One source said the bank was looking to close 20 branches.

In March, ADCB had declared, “No employee will be made redundant during 2020 as a result of the COVID-19 pandemic.”

UAE banks have been hit by government measures to rein in the spread of the virus, forcing many businesses to shut temporarily.

Last week, Dubai’s largest bank, Emirates NBD, reported a slump of 58% in profits. In June, sources told Reuters the bank started a new round of hundreds of lay-offs.

In May, ADCB reported a fall of 84% in first-quarter net profit as it took impairments of $292 million on debt exposure to troubled hospital operator NMC Health and payments group Finablr.

It was a major lender, with an exposure of about $981 million, to NMC Health, which went into administration this year after months of turmoil following questions over financial reporting.

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