UK to help reform Saudi economy

Dubai, Apr 2: A senior Saudi official urged more than 1 million Muslims intending to perform the hajj to delay making plans this year in comments suggesting the pilgrimage could be cancelled due to the new coronavirus pandemic.

In February, the kingdom took the extraordinary decision to close off the holy cities of Mecca and Medina to foreigners over the virus, a step which wasn’t taken even during the 1918 flu epidemic that killed tens of millions worldwide.

Restrictions have tightened in the kingdom as it grapples with over 1,500 confirmed cases of the new virus. The kingdom has reported 10 deaths so far. The Middle East has more than 71,000 confirmed cases of the virus, most of those in Iran, and over 3,300 deaths.

“The kingdom of Saudi Arabia is prepared to secure the safety of all Muslims and nationals,” Saudi Hajj and Umrah Minister Muhammad Saleh bin Taher Banten told state television. “That’s why we have requested from all Muslims around the world to hold onto signing any agreements (with tour operators) until we have a clear vision.”

Saudi Arabia has barred people from entering or exiting three major cities, including Mecca and Medina, and imposed a nighttime curfew across the country. Like other countries around the world and in the Middle East, Saudi Arabia has suspended all inbound and outbound commercial flights.

Each year, up to 2 million Muslims perform the hajj, a physically demanding and often costly pilgrimage that draws the faithful from around the world. The hajj, required of all able-bodied Muslims to perform once in their lifetime, is seen as a chance to wipe clean past sins and bring about greater humility and unity among Muslims.

Standing in Mecca in front of the cube-shaped Kaaba that Muslims pray toward five times daily, Banten also said the kingdom was already providing care for 1,200 pilgrims stuck in the holy city due to global travel restrictions. A number of them are being quarantined in hotels in Mecca, he said.

The Tawakkalna application developed by Saudi Arabia's National Information Centre to processes requests for movement permits during the curfew to curb the spread of the virus has become a major helplnine for past few weeks. 

The application developed through the close cooperation between the Ministry of Health and the Saudi Data and Artificial Intelligence Authority (SDAIA) was launched on May 4.

According to Saudi Telecom Group, it handles 20,000 calls daily through the Tawakkalna platform by dedicating a call centre of 600 employees through its Contact Centre Company (CCC). 

The Tawakkalna app can be used to issue e-permits for a selected group of government and private sector employees who were exempted from the curfew, and individuals who have medical appointments as well as couriers.

Tawakkalna has features for the service of citizens and residents, for ensuring their safety and comfort that would contribute to facilitating the access of authorized persons to travel permits.

The official page about Tawakkalna on Twitter, says: “You must always keep in mind that pinpointing your exact location of residence is the only way for you to benefit from the app’s range of services and permits.”

The app will also provide the latest alerts and medical news issued by the Ministry of Health about the virus as well as about its spread, ways to prevent it and movement permits.

Tawakkalna can be used for self-disclosure for people who show signs of coronavirus infection and for requesting ambulance service and other important services for the community.

Through the app users can apply for a one-hour permit for a walk in the neighborhood on a daily basis, thereby encouraging walking during this period of lockdown.

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.