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Saudi Arabia executed record number of inmates in 2019
Saudi executions jumped from 149 in 2018 to 184 last year, the majority for drug-related offenses and murder.
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A hunt for any storage space turns urgent as oil glut grows
With oil depots that normally store crude oil onshore filling to the brim and supertankers mostly taken, energy companies are desperate for more space. The alternative is to pay buyers to take their U.S. crude after futures plummeted to a negative $37 a barrel on Monday. A topsy-turvy market that has oil prices for October delivery at $31 a barrel has oil firms anxious to sock away millions of barrels now to sell at a profit later.
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Saudi Arabia gets physical with Russia in underground oil bout
“As demand is falling the competition gets even tougher. (The) Saudis don’t mind going the extra mile for the buyer,” a source at a European refiner told Reuters.
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Saudi Arabia eases curfew restrictions for month of Ramadan
Saudi Arabia plans to ease curfew hours it imposed on several cities during the month of Ramadan to allow people more time to shop for essential needs within the boundaries of their neighbourhoods, state news agency (SPA) reported on Tuesday. Currently, people living in areas under 24 hours curfew can go out for healthcare and to supermarkets from 6 a.m. to 3 p.m. In Ramadan these hours will start from 9 a.m. until 5 p.m., SPA said.
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Why The 300% Oil Price Crash Isn’t As Bad As It Seems
While everyone agrees that the oil market has been battling multiple enemies over the last couple of months - namely storage limitations, overproduction, and low prices - today’s redline move was brought about by another enemy: poor timing.
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Oil slump wreaks havoc in Gulf markets, Saudi riyal under pressure
Gulf debt and equity markets fell on Tuesday and the Saudi currency dropped in the forward market, after U.S. crude oil futures collapsed below $0 on a coronavirus-induced supply glut.
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Saudi Arabia’s Public Investment Fund Invests In Stephen Ross’ Related
Related closed on the deal with PIF in the first week of February, according to Vanity Fair, when the real estate market was still robust and the coronavirus pandemic hadn’t yet ravaged the global economy. The investment comes in the form of convertible debt, convertible into 15 percent of the development firm’s equity. Related is one of the most prominent private real estate developers in the country, with megaprojects such as the $25 billion Hudson Yards on Manhattan’s Far West Side, the Time Warner Center in Columbus Circle and Related Santa Clara in Northern California.
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Commentary: Historic price collapse impacts all producers
Saudi Arabia will be best positioned to weather the impact of an unprecedented collapse in U.S. oil prices, energy analysts told CNBC on Tuesday. It comes at a time when the market is awash with crude, storage tanks are being filled and the coronavirus crisis continues to ravage global demand. On Monday, the May contract for U.S. West Texas Intermediate futures tumbled into negative territory for the first time ever.
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How Arab News, Saudi Arabia’s first English-language newspaper, was born
The first issue of Arab News, a 16-page tabloid, was published on April 20, 1975, from a small garage in Jeddah. Thanks to its instant popularity, and the quantity of advertising it generated, by the end of August it had blossomed into a broadsheet.
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Saudi Arabia starts operating new shipping line to East Africa
The new shipping line will provide a new weekly direct service between the Kingdom, Kenya and Somalia through 4 dedicated vessels, according to SPA.
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