Coronavirus: Saudi Arabia announces $13.3b spending cuts

Riyadh: Saudi Arabia announced 50 billion riyals (Dh48.78 billion, $13.3 billion) in budget spending cuts after the crash in oil prices and the coronavirus outbreak affected its public finances. As the kingdom doubled down in its price war with Russia, authorities signed off on expenditure reductions equivalent to under 5 per cent of the total […]

Oil prices likely to find support at $30-$40 range for 2020

Abu Dhabi: Oil prices could find themselves going much lower in the next few days and weeks before bottoming out – as low as $10 – with prices eventually recovering to find support at a price range between $30-$40 as the COVID-19 outbreak starts to slow down. “With the additional quarantines that are now being […]

Sunny side up

Hygienic, hormone-free and local: These are a few of the key buzzwords brought up by UAE experts asked about consumer trends in the poultry space. “Consumers are becoming more health-conscious,” says Ajay Rampal, CEO of IFFCO Poultry, adding that chicken buyers are also beginning to pay closer attention to how hygienically packed their birds are […]

Rolls-Royce to cease production for two weeks

Dubai: Rolls-Royce Motor Cars will cease production for two weeks at the company’s Goodwood-based manufacturing plant from March 23. This is being done to “further secure the health and welfare of the employees of the company this suspension will be followed by an already-planned two-week Easter maintenance shutdown,” the company said in a statement. The […]