Category: Arab News

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The Kingdom of Saudi Arabia has allowed its citizens and residents to perform Umrah at 75 percent capacity as part of its second phase of gradual resumption of the pilgrimage, said the Saudi Press Agency, SPA.

Citizens and residents on Sunday performed Al Fajr prayers at the Grand Mosque with the start of the second phase of gradually allowing citizens and residents to perform Umrah.

The Ministry of Hajj and Umrah, in cooperation with the relevant authorities, have stepped up the preparations to serve the pilgrims in accordance with the highest quality standards. The authorities have taken all precautionary measures, and used all technical systems and electronic programmes to ease the procedures and offer all services promptly and efficiently.

According to the executive plan drawn up by government agencies, the second phase of the resumption of Umrah and the visit will witness greater numbers than the first phase, by 15,000 Umrah performers and 40,000 worshipers per day as a maximum.

The pilgrims will also be allowed to pray at Al-Rawadah Al-Sharifah, inside the Mosque of the Prophet Muhammad by 75% of the capacity that takes into account the precautionary health measures at Al-Rawadah Al-Sharifah of the Prophet’s Mosque.

Also Read: Mecca receives first batch of Umra pilgrims after six months

A Biden presidency is likely to be a huge win for the Middle East to gain back the market share as it restricts shale production and can be supportive for crude oil prices.

According to a report by Motilal Oswal Financial Services, for years, if not decades, OPEC members have been jousting for market share, which is, of course, the reason why the latest Saudi-Russia oil price war happened in the first place.

“A Biden presidency is likely to be a huge win for the Middle East to gain back the market share as it restricts shale production and can be supportive for crude oil prices,” the report said.

Talking about the OPEC approach, Trump would likely continue practicing Twitter oil diplomacy, which he started in his first term to urge OPEC plus producers to increase or cut supply during their meetings in Vienna. He takes credit for helping to negotiate an end to the March oil price war between Saudi Arabia and Russia.

“Under Biden, any US diplomacy toward OPEC might return behind the scenes. Antitrust legislation against OPEC would only see renewed interest if gasoline prices soar,” the report said.

Crude oil investors are facing a confused stance as US President Donald Trump’s presidency brings stability and Presidency under Joe Biden might bring uncertainty and more volatility in the market.

Prices can remain in levels of $45 as President Trump would like to keep prices at this level to make sure gasoline prices remain in control, which remains a main concern of taxpayers in U.S.

If U.S. voters decide to stay the course, the current push for energy dominance through increased drilling will continue. He is seen as a promoter of Shale which might put pressure as any stimulus and benefit to shale sector would lead to overproduction and more responsibility on OPEC plus to cut production and bring balance in the market.

Compared with a second term of the Trump administration, a Biden presidency could be a positive for U.S. oil and gas drillers because tougher regulations on hydraulic fracturing would likely reduce production, raising crude prices to levels of WTI $45-$55 in coming months after elections. If they elect a new president, the challenger has pledged to end new drilling on public lands and move toward a carbon-free future.

With his $2 trillion plan to cut greenhouse gas emissions, Joe Biden might seem a far-from-ideal president for the Texas oil and gas industry. Looks like for Crude oil to rally, markets are praying for Vice President Biden to win and bring back optimism in the market as demand recovery is stalling and it might take more months for crude demand to recover.

A Biden win will likely be an upward catalyst for oil prices because it will increase costs for shale patch and will likely result in a weaker U.S. dollar, the report said.

However, headwinds remains to this optimistic view that if sanctions are pulled off from Venezuela or Iran, they might re-emerge as a significant oil exporter, it might put pressure on prices and can force adjustment in production for the three big oil producers and likely a reduction in through cycle prices which can push additional pressure on prices and bring back glut fears and push prices to levels of $35.

Also Read: Oil prices decline as US crude stockpiles surge

Also Read: Challenges mar OPEC’s 60th anniversary

Dr. Ahmed bin Mohammed al-Saidi, Oman’s Minister of Health has reiterated his plea to all members of the public to stick to the decisions of the Supreme Committee and precautionary measures it has set for the management of the pandemic.

The Minister who is also a Member of the Supreme Committee tasked with tackling developments resulting from coronavirus (Covid-19) pandemic, expressed his deep appreciation for the continuous support of His Majesty Sultan Haitham Bin Tarik to the health sector and departments dealing with the pandemic.

Speaking at the 17th press conference held by the Supreme Committee at the Ministry of Education, the minister said that all segments should refrain from gatherings and to report any violations. “Failure to report a crime is a crime in itself,” said the minister, who described crime reporting as a national duty.

Dr. Ahmed also pointed out that doctors and other health undergo tremendous stress as they watch young people dying from the disease. He explained that COVID-19 mortality rate in the Sultanate is still within the mark of 1% from total infection cases, “but any such death represents a disaster and great pain that could be limited if we follow proper preventive measures.”

Last week, COVID-19 death rate at Intensive Care Units (ICUs) reached 83% (Mortality rate in cases admitted to ICUs ranges from 75%-85%), said the minister, noting that the percentage of death among men is higher than women and that the disease damages a lot of organs in the body.

He added that all should understand that this virus spreads fast, with imminent risk looming from a third wave of infection, which already began in many countries, not only in our region. “The more we cooperate and rally efforts as a government, citizens and residents, the more we could cut down the number of infection cases and ease pressure on health establishments,” said Dr. Ahmed.

Also Read: EU commends Oman’s decision to exchange tax data

Also Read: Oman Restarts Diplomatic Mission In Syria

                     

                    

                    

                   

Israel’s parliament approved the normalization deal signed last month between Israel and the United Arab Emirates (UAE).

The peace agreement was approved in an 80-13 vote in a special session of the Knesset, or the parliament on Thursday, Xinhua news agency reported.

During speeches ahead of the vote, Israeli Prime Minister Benjamin Netanyahu called for peace with Lebanon, Israel’s neighbor in the north. The two countries have recently launched US-brokered negotiations to end a long-time dispute over their maritime border.

“I call on the government of Lebanon to continue and complete these talks,” Netanyahu said, adding that the move could “one day, in the future, lead to true peace.”

Israel and the UAE signed an agreement to normalize their relations in Washington on September 15. During the ceremony, a peace deal was also signed between Israel and Bahrain.

The UAE and Bahrain became the first Gulf countries to agree to form official relations with Israel.

Previously, two Arab countries, Egypt and Jordan, had signed peace agreements with Israel.

Also Read: Israeli Move To Build New Settlement draws Ire

Also Read: Palestine to take legal action against Israeli settlers