International and Arab News
Business
Saudi Arabia’s Oil Exports Climb 147% to $16 Bln in May
The value of Saudi Arabia’s oil exports in May increased 147% to just over 60 billion riyals ($16 billion) from a year earlier while non-oil exports rose by 70%, official data showed on Wednesday. “Overall merchandise exports increased by 120.1% in May 2021 compared to May 2020, when internationa
Pfizer Raises Estimates for 2021 Sales of COVID-19 Vaccine to $33.5 bln
Pfizer Inc on Wednesday raised its forecast for sales of the COVID-19 vaccine that it developed with Germany's BioNTech by 28.8% to $33.5 billion, as countries scramble to secure supply of the shots. The company said the raised sales forecast of the vaccine is based on signed deals for 2.1 billio
Russia's S7 Airlines Plans to Order 24 A320 Neo Airbus Planes by 2024
Russia's S7 Airlines plans to order 24 new A320 Neo Airbus planes for its low-cost airline by 2024, Chairman of the airline's board of directors Tatiana Fileva said on Wednesday. Fileva earlier said S7 would create a new low-cost carrier for regional traffic, seeking to fly more than 7 million pa
IMF Stands Ready to Help Tunisia Cope with ‘Extraordinary’ Pressures
The International Monetary Fund stands ready to continue to help Tunisia cope with the impact of the COVID-19 crisis, achieve a “job-rich” recovery and restore finances to a sustainable footing, a spokesperson said on Monday. “We are closely monitoring the evolving situation in Tunisia,” the spok
Saudi Arabia Suspends Privatization of Desalination and Power Plant
Saudi Arabia has suspended the privatization of the Ras Al Khair desalination and power plant, one of a number of state assets that the government aimed to sell to reduce pressure on capital spending and diversify revenues away from oil. “This decision was made in order to capitalize on knowledge
Kuwait Plans on Establishing Logistics Cities
Kuwait’s Port Authority (KPA) plans to optimize metropolitan logistic activities on recently acquired lands as part of efforts to prop up local trade and lure more foreign investment into the country, its director general said on Sunday. Sprawling “logistics cities” will be built on these new lan
Israeli Airlines Launch First Direct Flights to Morocco
Two Israeli airlines launched their first commercial flights between Israel and Morocco on Sunday, less than a year after the countries officially normalized relations. Israir's flight departed Tel Aviv for Marrakech with around 100 Israeli tourists, the company said, hours before Israeli nationa