Saudi Arabia

18 May 2020; MEMO: Saudi’s national debt has increased 1,500% since King Salman came to power in 2015 according to data released by the World Bank.

At the end of 2019, the kingdom’s debt reached $183.7 billion, compared to $11.8 billion in 2014; a rise of over 1,560 per cent, according to data collected by Arabi21.

RIYADH, May 17 (NNN-SPA) – Saudi Arabia’s COVID-19 cases reached 52,016 on Saturday, with the registration of 2,840 new infections, health authorities said.

The health ministry tweeted that, ten more died from the virus, raising the death toll to 302, and 1,797 individuals recovered, bringing the accumulated number of recoveries to 23,666.

Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al-Khorayef, recently said that, the virus would reshape the global commercial shape.

14 May 2020; MEMO: Saudi Arabia has called on OPEC+ countries to respect their commitment to the agreed oil production cuts and to reduce production even further to help restore balance to global oil markets, the Saudi Press Agency (SPA) reported yesterday.

A statement said the cabinet has decided to reduce oil production by an additional one million barrels per day in June, noting that the kingdom is coordinating with customers to reduce production in May, from the target level.

13 May 2020; MEMO: Saudi Arabia on Monday issued a new system for the Public Prosecution and introduced an amendment to Article 112 of the Penal Procedures regulation.

The new system gives the public prosecution complete and independent powers to identify major crimes that require detention.

The Saudi government adopted the new system after consultations with the Ministry of Interior and the Presidency of State Security.

13 May 2020; MEMO: Saudi citizens expressed widespread discontent and concerns after the government’s decision to triple the rate of value-added tax (VAT) and cancel benefits, in the latest austerity measures announced to confront the financial crisis.

RIYADH, May 12 (NNN-SPA) – Saudi Arabia’s Energy Ministry directed on Monday, the national oil company, Aramco, to further reduce crude oil production for June, by an additional one million barrels per day.

An official from the ministry said, the reduction will be a voluntary amount of one million barrels per day, in addition to the reduction, committed by the kingdom in the latest OPEC+ agreement.

The official said that this brings the total production cut to around 4.8 million barrels per day, from the Apr production level.

RIYADH, May 13 (NNN-AGENCIES) — Saudi Arabia will enforce a round-the-clock nationwide curfew during the five-day Eid al-Fitr holiday later this month to fight the coronavirus, the interior ministry said, as infections spike.

The kingdom, which has reported the highest number of virus cases in the Gulf region, is scrambling to limit the spread of the deadly disease.

12 May 2020; MEMO: Saudi Aramco’s profit fell 25 per cent in the first quarter of the year as a result of a drop in oil prices and a plunge in global demand as a result of the outbreak of the coronavirus, the company reported today.

12 May 2020; MEMO: A Criminal Court in Jeddah has convicted the owner of a “halal bar” to three months in prison and a fine of 10,000 riyals for using words which violate public morals and religion, RT reported on Sunday.

The owner of the bar, which is actually a café, appeared in a 140-second sponsored advertisement published by social media celebrities saying that he serves “alcohol-free wine” at his “halal bar”.

RIYADH, May 12 (NNN-SPA) – Saudi Arabia’s Energy Ministry directed on Monday, the national oil company, Aramco, to further reduce crude oil production for June, by an additional one million barrels per day.

An official from the ministry said, the reduction will be a voluntary amount of one million barrels per day, in addition to the reduction, committed by the kingdom in the latest OPEC+ agreement.

The official said that this brings the total production cut to around 4.8 million barrels per day, from the Apr production level.