BREAKING NEWS | Saudi Crown Prince: Kingdom’s Economy Proves Ability To Face COVID-19 Repercussions

RIYADH – – Saudi Arabia’s economy has proven its ability to face the repercussions of the coronavirus pandemic, Crown Prince Mohammed bin Salman said following the announcement of the Kingdom’s budget for 2021.

‘Financial and economic measures have been taken at reducing the repercussions of the pandemic on economic activities. The crisis was managed with great care and effectiveness, which led to the mitigation of the negativeness, which led to the mitigation of the negative effects on the Saudi economy’, the Saudi Press Agency quoted the crown prince as saying.

‘The balance between the precautionary measures and the timing of the gradual return of economic activities has been made at a good pace. Saudi Arabia was able to take health and preventive measures aimed primarily at protecting human health by curbing the spread of the epidemic’, he said.

Saudi Arabia projected its 2020 budget deficit will rise to around $79 billion, the finance ministry confirmed on Tuesday, as the world’s top crude exporter reels from a coronavirus – led economic downturn.

‘It is expected that the budget deficit will increase at the end of 2020 to about 298 billion riyals, and we aim to reduce it by the end of 2021 to 141 billion riyals ($37.6 billion), the finance ministry said in its annual budget.

SABIC’s Quarterly Net Profits Slumps 94% On Lower Sales Prices

PARIS, France – Petrochemicals firm Saudi Basic Industries Corp (SABIC) said on Tuesday its fourth-quarter net profit slumped 94% on lower average sales prices. SABIC posted a net income of 0.29 billion riyals ($77.28 million) in the three – month period ended Dec. 31, down from 4.97 billion riyals in the year-ago period. Princes across…

Ukraine Gets Support From Saudis With $400 Million Aid Deal

PARIS, France – Saudi Arabia signed agreements worth $400 million with Ukraine on Sunday after the kingdom’s foreign minister made a surprise visit to Kyiv, a movie praised by Washington. Prince Faisal bin Farhan met President Volodymyr Zelenskiy, his chief of staff Andriy Yermak, his Ukrainian counterpart Dymytro Kuleba, and others. He was the highest-ranking…

Saudi Arabia Pauses Wealth Fund Plan To Acquire Egyptian Bank – Sources

PARIS, France – Saudi Arabia has put a plan by its sovereign wealth fund to acquire the United Bank of Egypt on hold because of a disagreement with the Egyptian authorities over its valuation, two sources familiar with the matter told Reuters. The pause is the most recent stumble in the vast investment programme promised…

Still Filming, Spielberg, 76, Wins Berlin Lifetime Awards

PARIS, France — Director Steven Spielberg, picking up a lifetime achievement awards at the Berlin Film Festival, said the prospect of making new films continued to excite him at 76, and unveiled new details of his planned HBO series. The director, whose credits include some of the biggest – grossing and best – loved works…

UAE Names ADNOC Chief Jaber As COP28 Climate Conference President

PARIS, France – The United Arab Emirates said on Thursday that Sultan al – Jaber, the head of state oil giant ADNOC, would act as president of the COP28 climate conference it is hosting this year. Jaber, also UAE’s minister of industry and technology and its climate envoy, will help develop the COP28 agenda and…

Saudi Arabia To Host Pre-Pandemic Numbers For 2023 Haj Pilgrimage Season

PARIS, France – Saudi Arabia will remove COVID-19 restriction for the 2023 haj season and host pre-pandemic numbers of pilgrims, the kingdom’s ministry of haj and umrah said on Monday. In 2019, the last yeast before the pandemic struck, some 2.6 million people performed the haj. The kingdom allowed only limited numbers from its residents…

UAE President Congratulates Netanyahu On Inauguration

PARIS, France – United Arab Emirates President Sheikh Mohammed bin Zayed al – Nahyan called Israeli Prime Minister Benjamin Netanyahu to congratulate him on his inauguration, the official Emirates News Agency (WAM) reported on Saturday. Netanyahu was sworn in as Israel’s prime minister on Thursday in a comeback at the head of a hard-right cabinet…

Former Pope Benedict Dies Aged 95

PARIS, France – Former Pope Benedict, who in 2013 became the first pontiff in 600 years to step down, died on Saturday aged 95 in the Mater Ecclesiae Monastery in the Vatican where he had lived since his resignation, a spokesman for the Holy See said. ”With sorrow I inform you that Pope Emeritus, Benedict…

Ronaldo Joins Saudi Arabian Club Al Nassr Until 2025

PARIS, France – Portugal capital Cristiano Ronaldo has joined Saudi Arabian club Al Nassr on a 2-1/2 year contract, the club announced on Friday, after leaving Manchester United to become a free agent. Ronaldo departed Old Trafford last month following an explosive television interview in which the 37-year-old forward said he felt betrayed by the…

Pele, Who Died At 82, Was A Sports Star And Cultural Icon

PARIS, France – The Brazilian soccer star said Andy Warhol told him that. It was a twist on something else the American artist is widely credited with saying, that ”in the future, everyone will be world-famous for 15 minutes”. Warhol made the soccer star’s portrait in 1977, and Pele took great pride in turning his…

Unemployment Among Saudi Citizens Increase To 9.9 In Q3/22

PARIS, France – Unemployment in Saudi Arabia among citizens increased to 9.9% in the third quarter, up 0.2. percentage points from the previous quarter but the overall unemployment rate remained unchanged at 5.9 percent, data released on Thursday showed. The rate of joblessness among citizens fell from 11.3% in the same period last year, however,…

Messi To Return To PSG In Early January, Says Galtier

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Iranian Woman Competes At Chess Tournament Without Hijab – Media Reports

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Qatar Reiterates Denial That Its Government Involved In EU Corruption Case

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Success Of Joint Emirati-Saudi Mediation Regarding Release And Exchange Of Prisoners Between United States And Russian Federation

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China’s Xi At Saudi Palace To Meet Royals On Mideast Trip

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Qatar Hosts An Official Visit By UAE President Sheikh Mohamed

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Biden Warns China On North Korea, Clashes With Xi Over Taiwan In Bali Meeting

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Rocket Attack Near Iraq’s Ebrill Kills One, Wounds 10 – Mayor

PARIS, France – At least one person was killed and 10 others were wounded on Monday after rockets hit the headquarters of an Iranian Kurdish party in the city of Koye, near the capital of Iraq’s autonomous Kurdish region Erbil, the mayor of Koye Tariq Haidari said. Iran’s semi-official Fars news said the country’s Revolutionary…

Iranian Actress Taraneh Alidoosti Expresses Support For Protests

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Pope Francis Arrives In Bahrain

PARIS, France – Pope Francis arrived in Bahrain on Thursday to start a four – day trip, the second by the pontiff to the Arabian Peninsula. The plane carrying the pope arrived in Sakir where he is due to meet King Hamad bin Isa Al Khalifa in the Sakhir Palace.

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