Arab and International

Saudi Arabia to Slash Oil Output by An Extra 1 mln bpd

A Saudi Arabian energy ministry official said on Monday that the ministry has directed national oil company Aramco to reduce its crude oil production for June by an extra voluntary amount of 1 million barrels per day, on top of the…

Saudi Arabia Looks for Ways to Stop Economic Bleeding

Sales of Saudi crude have reached practically zero. Saudi oil tankers are lost in the open sea, including the world's largest Saudi tanker, "Super Tank," without a final destination. More than 40 million barrels of Saudi oil are stored at…

Saudi Stocks Falls after Govt. Triples VAT Rate

Gulf stock markets lost ground in early trade on Monday, with Saudi Arabia’s index falling the most after the kingdom said it will triple its value-added tax rate and suspend a cost of living allowance for state employees to shore up its…

Al-Monitor: Saudi Arabia Braces for Economic Impact

A US report confirmed that radical changes will take place in Saudi Arabia, the most prominent of which is the lifestyle of its citizens in the near future, adding that the Saudis will not live as their parents lived and they see that the…

Arab’s Economy Lost 8% of Its Wealth Due to COVID-19

The head of the Arab Businessmen Union, Hamdi Al-Tabbaa, estimated that the losses of the Arab economy due to the Corona pandemic would amount to approximately $ 323 billion. Al-Tabbaa based his estimates, based on a recent report by the…

UK Economy Is Heading for Its Worst Crash in 300 Years

The UK economy is heading for its worst crash in more than 300 years because of the coronavirus pandemic, according to a new forecast from the Bank of England. The central bank said Thursday that the British economy could shrink by…

Record 20.5 Million American Jobs Lost in April

With much of the American economy in self-imposed shutdown to prevent the spread of coronavirus, April’s colossal surge in unemployment delivered a historic blow to workers. The US economy lost 20.5 million jobs in April, the Bureau of…

US Pulling Patriot Missiles from Saudi Oil Facilities

The United States is pulling its Patriot missile systems from Saudi soil as part of broader curbs on its military support for the Arab kingdom, a report says. Citing unnamed US officials, The Wall Street Journal reported on Thursday that…

5.1 magnitude earthquake hits Iran

A 5.1 magnitude earthquake hit the town of Damavand  in northern Tehran province, Iran’s Seismic Monitoring Center said. Several aftershocks ranging from 2 to 2.5 degrees hit Tehran and its neighboring cities after the first quake hit…

How Did Military Situation Explode in Yemen’s Socotra?

Saudi Arabia is condoning entering into a confrontation with the Emirates over the Yemeni island of Socotra, where the UAE authorities have always carried out various activities in order to impose their control on the island. This cannot…

US Pulling Patriot Missiles from Saudi Arabia: Report

The US is removing four Patriot missile batteries and dozens of troops deployed to Saudi Arabia amid heightened tensions with Iran, according to a report published Thursday. The military assets were sent to Saudi Arabia after an attack…

Saudi Arabia Records Highest Rise of Coronavirus Cases

Saudi Arabia recorded, on Wednesday, 1687 confirmed cases of the Coronavirus. Today’s rate represents a new record for confirmed COVID-19 infections in the Kingdom. A spokesman of the Health Ministry, Mohammed Al-Aali, said in a press…

2020 Intl. Quds Day Events to Go Virtual As COVID-19 Rages

Pro-Palestine activists in Iran and elsewhere are making plans to replace street rallies with online events to commemorate this year’s International Quds Day as a deadly coronavirus pandemic has restricted social life and mass gatherings…