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Virus-hit Gulf has little room to boost revenue after oil price shock
Saudi Arabia could see its 2020 deficit widen to 16.1% from a previous projection of 6.4% if oil prices average $40, according to Arqaam. At $30, the deficit would hit 22.1%, it said — roughly $170 billion, according to Reuters calculations.
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Saudi’s Sakani provides 120,000 housing units in 70 projects
Saudi Arabia’s ‘Sakani’ housing programme has announced that more than 120,000 housing units in 70 projects across residential neighbourhoods in the kingdom are available to citizens who want to benefit from the programme.
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Coronavirus deaths in Iran lead to mass burial pits, changing the way families mourn
Battered by the coronavirus, Iran’s religious Shiite-clerics are abandoning Islamic burial rituals to prevent further infections and stem a rapidly rising death toll. Each day hundreds of new people test positive for the virus. But with infections now hovering above 16,000 and the death toll rising to 988, the lines outside cemeteries lengthen even as state TV warns that millions may perish.
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Iraq’s latest prime minister-designate faces opposition from Iran-backed militias
Salih designated Zurfi after the two largest parliamentary blocs failed to nominate a new candidate for the position this month. After the March 16 deadline for nominating a candidate passed, Salih could name any candidate without having to discuss it with the largest blocs (and this was confirmed by the Iraqi federal court March 16). Salih then nominated Zurfi, who was supported by several Shiite blocs in addition to Sunni and Kurdish ones.
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Senators to press Saudis on oil markets
A group of Republican senators is slated to meet with the Saudi ambassador to the U.S. on Wednesday to make the case that the kingdom should back off plans to flood the market with low-price crude.
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Libyan Truce Would Aid War on Coronavirus, Say Western, Arab Nations
Western and Arab countries in a statement on Tuesday urged Libya's warring factions to stop fighting to allow the country's authorities to respond to the threat posed by the coronavirus. Although Libya has yet to record any confirmed cases, the World Health Organisation representative in Tripoli has warned of the great risks faced if the virus spreads in a country fragmented by conflict. For the last year, the eastern-based Libyan National Army under Khalifa Haftar has been waging a military campaign to capture Tripoli, seat of the internationally recognized Government of National Accord.
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Saudi energy ministry instructs Aramco to supply 12.3 mil b/d crude in coming months
This is an expansion on its directive earlier this month for the company to supply 12.3 million b/d of crude to the market in April, once its OPEC production quota expires -- some 25% above current levels, as the kingdom shows no signs of backing down in its price war with Russia.
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Calorie-conscious Saudi millennials seeking healthier eating habits
Fast-food restaurants and coffee-shop chains have spread rapidly across Saudi Arabia in recent decades, with Dunkin’ Donuts alone operating more than 400 stores in the Kingdom, more than 100 of those in Riyadh. By contrast, Singapore, with a population similar to the Saudi capital, has just 15 Dunkin’ outlets.
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OPEC, IEA warn some nations could lose up to 85% of oil and gas income
Developing countries’ oil and gas income could fall to their lowest levels in more than two decades if current energy market conditions persist, the IEA and OPEC have warned in a rare joint statement.
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Houthis report capture of province bordering Saudi Arabia
Following a recent offensive over the last few weeks in Yemen’s northern al Jawf Governorate, the Houthi insurgency has reported that its forces are in ‘full control’ of the area.
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