Home » June 22nd, 2020 Entries posted on “June, 2020”

KSA launches $4bn fund to develop tourism industry

Saudi Arabia has unveiled Tourism Development Fund with $4 billion as initial capital in line with kingdom’s plan to boost its tourism industry as a way to ease its dependence on oil revenues. The fund in a statement said it has $45bn in memorandum of understandings signed with private banks and will launch a range […]

June 22nd, 2020 | Posted in Gulf News,Headlines | Read More »

Aramco goes on customary redundancy plan, cuts hundreds of jobs

Saudi Arabia’s national oil giant has begun cutting hundreds of jobs across various sectors amid slump in oil demand due to covid-19 pandemic, Bloomberg reports citing anonymous sources. The cuts concern mostly positions held by expats the sources aware of matter told the U.S-based media. The staffers were informed earlier this week. “Aramco is adapting […]

June 19th, 2020 | Posted in Energy,Headlines | Read More »

Iraq protests against Iranian strikes into territory

The Iraqi foreign ministry Thursday summoned Iran’s envoy and warn the Islamic Republic to respect its sovereignty after Iranian forces launched artillery strikes into its territory, Anadolu news agency reports. Ambassador Iraj Masjedi was handed a protest note over artillery strikes that targeted border villages in the Erbil province of northern Iraq. The note also […]

June 19th, 2020 | Posted in Headlines,World News | Read More »

Qatar airways defers 2020, 2021 orders for aircraft owing to covid-19 adverse impact

Qatar’s national carrier, Qatar Airway, Wednesday it will not acquire new aircrafts this and next and has informed Airbus and Boeing to defer the delivery as result of fallout from covid-19, reports say. The airline’s Chief Executive Akbar al-Baker in an interview of Sky News said he has informed the two global leading aircraft makers. […]

June 18th, 2020 | Posted in Gulf News,Headlines | Read More »

Bahrain-backed McLaren Group to sell shares in search new investment for F1 team

British conglomerate McLaren Group is mulling plans to sell around 20 to 30 per cent of shares in its F1 team as it struggles financially, reports say. The plans according to Sky News are in the making and also considers other funding options, including raising capital from existing bondholders. The British group is looking to […]

June 18th, 2020 | Posted in Finance,Headlines | Read More »

SABIC appoints new chairman as Aramco takes control

Saudi Basic Industries Corporation (SABIC) has named a new chairman in line with the company’s takeover by the kingdom’s oil giant Aramco. Khalid Hashim Al Dabbagh will succeed Abdulaziz Saleh Aljarbou, following an approval on June 16, Zawya reports citing a stock exchange statement. Aramco early this week acquired 70 per cent of the world’s […]

June 18th, 2020 | Posted in Energy,Headlines | Read More »

Oman hires Microsoft to improve Omani youth’s skills in emerging technologies

Microsoft Corporation will collaborate with Oman’s National Youth Council (NYC) to upgrade Omani youth’s skill in emerging technologies, Trade Arabia reports. The Washington-based tech giant will organize Youth Tech Bootcamp during which students and working professionals will have the opportunity to get hands on trainings and harness technologies such as Artificial Intelligence (AI) and Internet […]

June 17th, 2020 | Posted in Gulf News,Headlines | Read More »

Turkey Wealth Fund in advanced talks with Sweden’s Telia to invest $530m into Turkcell

Turkey Wealth Fund, TWF, is in advanced negotiations with Sweden’s Telia to acquire shares in Turkcell for an investment of $530 million. “Negotiations are still ongoing and are in an advanced stage, but no agreement has yet been reached,” Telia said in the statement. Telia is owner of 47.1% of Turkcell Holding, a company owned […]

June 17th, 2020 | Posted in Headlines,World News | Read More »

Kuwait: Three officials arrested for causing millions of losses for civil aviation industry

Three Kuwaiti officials have been nabbed over allegations that they caused the loss of $25 million for the civil aviation industry. The officials, whose identity has not been revealed, were arrested following a complaint by the Minister of State for Services Affairs, Mubarak Al-Haris, Middle East Monitor (MEMO) reports. They have been charged with “job […]

June 17th, 2020 | Posted in Gulf News,Headlines | Read More »

Rare Doha-Cairo coordination enables repatriation of Egyptian expats 

A group of Egyptian nationals who were stranded in Qatar amid the covid-19 pandemic have returned home after both countries, mired in a diplomatic row, agreed to coordinate the repatriation operation. A group of 174 Egyptians arrived in Egypt on Sunday on board national carrier Egypt Air, from Oman to comply with Cairo’s ban on […]

June 16th, 2020 | Posted in Gulf News,Headlines,World News | Read More »