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An Iranian Concert at Saudi Arabia’s Tantora Festival
In the meantime, the Tantora Festival in its last two days was – for the first time - host to Iranian artists to prove that cultural and artistic activities recognize no frontiers, and that in circumstances where Iranian singers are not allowed to perform in their own countries, this opportunity afforded them within the realms of the most religious and the most traditional Muslim country in the world.
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Amaala in Saudi Arabia announces Nacho Figueras as brand ambassador
Global polo star and Ralph Lauren model, Ignacio Figueras, has been named a brand ambassador for Amaala, the ultra-exclusive tourism destination under development on Saudi Arabia’s Red Sea coast.
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HPS, a Payments Technology Firm, Chosen by Saudi Arabia Monetary Authority to Provide QR-based Payment Solution
HPS will be overseen by Saudi Payments, a subsidiary of SAMA. The payments firm is tasked with providing a unified QR code system, which will allow local banks, digital wallet providers and Fintech firms to interact and function within an interoperable platform.
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Aramco trades below IPO price for first time, after OPEC pact unravels
The shares have fallen more than 11% since the start of the year amid concerns the coronavirus outbreak will slow oil demand from China and hurt the global economy.
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Saudi Arabia closes schools over coronavirus concerns
The decision covers all educational institutions, including public and private schools, and technical and vocational training institutions.
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Saudi Arabia announces 4 more new coronavirus cases, suspends travel to 9 countries
The discovery of the four new cases brings the total number of confirmed COVID-19 cases in the Kingdom to 15. On Sunday, the health ministry announced that four more cases of the fast-spreading respiratory disease were confirmed in Qatif, raising the total to 11 cases.
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Asia finds Saudi crude much cheaper than Russian ESPO as Aramco launches price war
Saudi Aramco made the first move Saturday to set a strong foothold in the Asian market for the upcoming trading cycles. The company slashed its official selling price differential for April-loading Arab Light crude bound for Asia by $6/b to minus $3.10/b against the average of Platts Dubai assessments and DME Oman futures.
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Saudi Arabia postpones Saudi Games over coronavirus fears
The games were due to run from March 23 to April 1, with more than 6,000 athletes from the kingdom’s 13 regions, both men and women, expected to participate.
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Oil prices crash by most since 1991 as Saudi Arabia launches price war
US oil prices crashed as much as 34% to a four-year low of $27.34 a barrel as traders brace for Saudi Arabia to flood the market with crude in a bid to recapture market share.
- NPR - Oil Prices, Stocks Plunge After Saudi Arabia Stuns World With Massive Discounts
- Reuters - Saudi Arabia to hike oil output above 10 mln bpd in April after OPEC+ deal collapse
- CNBC - Putin just sparked an oil price war with Saudi Arabia — and US energy companies may be the victims
- Reuters - Opinion: Even before price plunge, hedge funds were abandoning oil
- Reuters - Saudi investors feel the pain of Aramco free-fall
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Saudi Arabia seals off Shia Qatif region over coronavirus fears
Given the kingdom’s 11 recorded cases of the new coronavirus are from Qatif, “it has been decided to temporarily suspend entry and exit” from the area, the interior ministry said in a statement carried by the official Saudi Press Agency (SPA). Except for essential services such as pharmacies and petrol stations, work will stop in all government and private institutions in Qatif, the statement added.
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