Saudi Arabian fund launches $986 mln initiatives to support industrial enterprises

The Saudi Industrial Development Fund (SIDF) said on Tuesday it launched initiatives totaling 3.7 billion riyals ($986.40 million) to support private sector industrial enterprises impacted by the coronavirus pandemic. The initiatives include deferment and restructuring of loan instalments for small, medium and large enterprises, as well as medical ones. They also include lines of credit to finance operating expenses for up to three months for … Continue reading Saudi Arabian fund launches $986 mln initiatives to support industrial enterprises

Qatar Petroleum cuts 800 staff amid coronavirus downturn

Qatar Petroleum (QP), the country’s state oil and gas producer, has fired 800 employees, in a massive restructure of operations, according to a former employee of QP said. The decision to fire 800 employees comes following the coronavirus pandemic and the Saudi/Russia price war. Consequently slashing global demand for petroleum products, rewriting the economic landscape for oil and gas producers. “We had to take the … Continue reading Qatar Petroleum cuts 800 staff amid coronavirus downturn