Saudi Justice Ministry announces new initiatives to promote work

Dubai, July 6: In an attempt to make a comeback in the tourism sector amidst managing covid-19 crisis, Dubai is all set to welcome holiday-makers from foreign countries from July 7.

It said those entering would have to present certificates to show they had recently tested negative for the coronavirus or would undergo tests on arrival at Dubai airports.

Reassuring tourists of several comprehensive measures to prevent the transmission of the pandemic, Dubai Tourism urged global travellers to make the city that boasts world class health and safety standards "a must-visit destination."

Dubai Tourism hosted a virtual forum for stakeholders and partners to share its industry outlook ahead of the city's reopening to international tourists.

The forum, which was attended by nearly 2,000 key executives from the aviation, travel and hospitality sectors and across tourism touch-points, provided a first-hand insight into current and post-pandemic strategies that will help accelerate tourism momentum and position Dubai as a safe global destination.

Helal Saeed Almarri, director general, Dubai Tourism, said that the city has put in place a robust strategy to manage the pandemic with the key priority being to safeguard the health and well-being of citizens, residents and guests.

Dubai, which saw a 5.1 per cent in tourist traffic to 16.73 million in 2019, remains top of mind for travellers and ranks high in global Internet search rankings for tourist destinations.

Dubai Tourism has launched marketing activities designed to convey positive messages about travel in today's environment, Dubai's preparedness, high standards of quality and safety, unique experiences that await visitors and also address traveller concerns across every touch-point in their journey.

The forum highlighted the preventive measures taken so far against Covid-19 that have further elevated the UAE's standing as one of the world's safest countries. The UAE is globally ranked No.3 in testing per million of population. It was also ranked No.3 in an international survey that assessed satisfaction with governments' response to the pandemic.

Over 350 influencers were also deployed to take the Dubai story in 14 different languages to a global audience spanning 18 markets, which yielded over 21 million engagements across multiple social media platforms.

Riyadh, Mar 15: Saudi Aramco on Sunday reported a 20.6 percent drop in its net profit for 2019 due to low oil prices and production levels, the company said in a statement.

These are the first annual results to be announced by the energy giant after its historical $29.4 billion initial public offering and listing on the Saudi Tadawul market last December.

Aramco posted net profits of $88.2 billion last year compared to $111.1 billion in 2018, Monday's statement said.

"The decrease was primarily due to lower crude oil prices and production volumes, coupled with declining refining and chemical margins," it said.

The company also made $1.6 billion of impairment provisions for losses associated with Sadara Chemical Company, an Aramco subsidiary.

"2019 was an exceptional year for Saudi Aramco. Through a variety of circumstances -- some planned and some not -- the world was offered unprecedented insight into Saudi Aramco's agility and resilience," CEO Amin Nasser said.

"Our unique scale, low costs, and resilience came together to deliver both growth and world-leading returns, while also maintaining our position as one of the world's most reliable energy companies," Nasser said.

The earnings for last year are not affected by the coronavirus outbreak or the ongoing price war between Saudi Arabia and Russia that has sent oil prices crashing.

Aramco said it will distribute dividends worth $73.2 billion for 2019 but based on its commitments under the IPO, its dividends for the next five years starting this year will be at least $75 billion.

It said its capital spending last year dropped to $32.8 billion from $35.1 billion in 2018.

The company expects capital spending, which is expenditure on projects, to be between $25 billion and $30 billion this year "in light of current market conditions and recent commodity price volatility."

But it said that capital expenditure for 2021 and beyond is currently under review.

The results were announced amid a price war between Saudi Arabia and Russia after they failed to agree on additional output cuts to support prices dented by the outbreak of the coronavirus pandemic.

"The recent COVID-19 outbreak and its rapid spread illustrate the importance of agility and adaptability in an ever-changing global landscape," Nasser said.

The kingdom said last week Aramco will pump 12.3 million barrels of oil per day, boosting output by at least 2.5 million bpd.

It also announced plans to raise production capacity from 12 million bpd to 13 million bpd.

Forecasts for future crude prices and demand are also bleak.

In its latest monthly report, the Organization of Petroleum Exporting Countries lowered its forecast for global average daily demand by 0.92 million barrels to 99.73 million barrels.

Saudi Arabia is also in the midst of a royal purge that saw King Salman's brother and nephew detained after sources said they were accused of plotting a palace coup to unseat the crown prince, heir to the Saudi throne.

Aramco shares rallied immediately after the listing on December 11, rising by 19 percent to 38 riyals ($10.1) and temporarily lifting the company's valuation above the $2 trillion mark, which was sought by Crown Prince Mohammed bin Salman, Saudi Arabia's de facto ruler.

But as oil prices tumble, Aramco shares have lost 29 percent from its highest point, slipping below the listing price.

On Thursday, Aramco's market value dropped to around $1.55 trillion, but it still remains the world's largest publicly listed company.

Dubai, May 19: In a heart-warming decision to reunite families that have been split by anti-Covid travel restrictions, the UAE has announced that residents with valid visas stranded outside the country can return from June 1.

The Ministry of Foreign Affairs and International Cooperation and the Federal Authority for Identity and Citizenship said they will begin the process on Monday, June 1, by allowing the return of those residency holders currently stranded outside the country who have relatives in the UAE. Residents who meet this criteria must apply for a Resident Entry Permit on smartservices.ica.gov.ae.

The ministry and the authority said the decision was taken to reunite families that have been affected by the anti-coronavirus measures taken due to the exceptional circumstances.

"The UAE is keen to facilitate the procedures for holders of UAE residency visas who are stuck outside the country and reunite them with their families who were affected by the precautionary measures taken by the country in light of the current exceptional circumstances to combat Covid-19," the federal authorities were quoted by state news agency Wam.

Hundreds of UAE residents are currently stuck abroad and are separated from their families due to the unexpected freeze on air travel imposed by many countries as precautionary measures to curb the spread of coronavirus.

The #BringBackUAEresidents hashtag was trending on Twitter on Monday as several residents and families requested the government to expedite their return to the UAE.