Your Daily Scan of the New Global Economy


OPEC sees oil demand soaring in 2021 but still below 2019 Author:  Wed, 2020-07-15 03:00 LONDON: Global oil demand will soar by a record 7 million barrels per day (bpd) in 2021 as the global economy recovers from the coronavirus crisis, but will remain below 2019 levels, OPEC said in its monthly report. It was the...
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BMG Economic Forum hosts virtual think-in Author:  Wed, 2020-07-15 02:52 DUBAI: The BMG Economic Forum hosts its first-ever “virtual” summer event today as thought leaders from the worlds of business, finance and pubic policy come together to discuss investment opportunities in Saudi Arabia. The annual event — organized by the BMG Foundation, part of the Kingdom’s...
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Zain profits fall as pandemic hits pilgrim packages¬† Tue, 2020-07-14 20:51 RIYADH: Saudi telecom company Zain KSA said profits more than halved as the halt of the Umra season contributed to a decline in the sale of visitor packages. The telco reported second-quarter net income of about SR59 million, a 54.6 percent decline on the year-earlier...
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Saudi Aramco says reorganizing downstream business to support growth Author:  Tue, 2020-07-14 20:18 DUBAI: Saudi Aramco said on Tuesday that it will be reorganizing its downstream business to support its global growth strategy, aiming to complete it by the end of this year. The downstream model will be divided into four units: fuels including refining,...
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Saudi Arabia terminates BeIN Sports' licence to broadcast in the Kingdom Tue, 2020-07-14 17:41 JEDDAH: Saudi Arabia’s General Authority for Competition (GAC) said on Tuesday it had permanently canceled the license of Qatari broadcaster BeIN Sports, which has been barred from broadcasting in the Kingdom since mid-2017 due to a dispute with Qatar. The GAC,...
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