The partial easing of lockdown restrictions in May was reflected in some economic indicators during the month, Jadwa Investment reports in its latest economic chartbook for that month.
Riyadh-based think tank KAPSARC recently released a report examining the estimated impact of the COVID-19 Pandemic on Saudi GDP, finding a "medium scenario" of severity as described in the report most likely.
Saudi Arabia reported a steady increase of 2,532 new coronavirus cases and 12 new deaths, which brings the total number of cases in the Kingdom to 65,077 and the virus-related death toll to 351, the Ministry of Health announced.
Saudi Arabia is taking new austerity measures to cope with the impact of the coronavirus pandemic and low oil prices, announcing that it would triple its VAT and slash a cost-of-living allowance for government workers, according to reports and comments from the Kingdom's finance minister.
Uber Eats has decided to withdraw its food delivery service in both Saudi Arabia and Egypt, and will join forces with Careem in the UAE, according to reports citing comments from company leadership in the region.
Saudi Arabia’s sovereign wealth fund bought a 5.7% stake in the LiveNation, the U.S. events and ticketing company, which is parent to Ticketmaster, according to reports.
For Saudis and other Muslims around the world, the approaching month of Ramadan will look different this year as governments take preventative measures to safeguard their citizens from the coronavirus.
