Foreign remittances from Saudi Arabia decline by almost 7% in January

March 3, 2017

Riyadh, Mar 3: Monthly foreign remittances have declined by 6.7 percent, down SR907 million from SR13.52 billion in December 2016, reaching SR12.61 billion in January.

SAAccording to an Al-Eqtisadiya report, despite having declined, January remittances remain high compared to the SR11.75 billion average remittances over the previous 12 months.

The report showed that annual foreign remittances in January increased overall by 4.86 percent over January 2016.

Remittances were the highest on record in June 2015, when SR15.8 billion were transferred abroad, a positive difference of 20.3 percent or SR3.22 billion higher than the figure of January 2017.

In July 2015, remittances reached the lowest point since February 2013, with only SR10.3 billon sent abroad.

In 2016, a total of SR151.9 billion were transferred by foreign workers to their home countries, compared to SR156.9 billion the previous year, which represented a 3 percent decline of around SR5 billion, constituting the first annual decline after a consecutive 11-year growth trend (between 2005 and 2015).

As for transfers made by Saudi citizens abroad, in January, the report shows a 13.4 percent growth in January, when it reached SR4.95 billion, compared to SR4.37 billion in December 2016.

Transfers in January were the highest since October 2016, when a total of SR5.36 billion was transferred abroad by Saudi nationals. This represents a consecutive three-month increase in transfers abroad.

On an annual basis, however, transfers declined this January by around 8.5 percent from January 2016, when transfers amounted to SR5.41 billion.

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News Network
April 5,2020

Beirut, Apr 5: The novel coronavirus has put global trade on hold, placed half of the world population in confinement and has the potential to topple governments and reshape diplomatic relations.

The United Nations has appealed for ceasefires in all the major conflicts rocking the planet, with its chief Antonio Guterres on Friday warning "the worst is yet to come". But it remains unclear what the pandemic's impact will be on the multiple wars roiling the Middle East.

Here is an overview of the impact so far on the conflicts in Syria, Yemen, Libya and Iraq:

The COVID-19 outbreak turned into a pandemic just as a ceasefire reached by the two main foreign power brokers in Syria's nine-year-old war -- Russia and Turkey -- was taking effect.

The three million people living in the ceasefire zone, in the country's northwestern region of Idlib, had little hope the deal would hold.

Yet fears the coronavirus could spread like wildfire across the devastated country appear to have given the truce an extended lease of life.

According to the Syrian Observatory for Human Rights, the month of March saw the lowest civilian death toll since the conflict started in 2011, with 103 deaths.

The ability of the multiple administrations in Syria -- the Damascus government, the autonomous Kurdish administration in the northeast and the jihadist-led alliance that runs Idlib -- to manage the coronavirus threat is key to their credibility.

"This epidemic is a way for Damascus to show that the Syrian state is efficient and all territories should be returned under its governance," analyst Fabrice Balanche said.

However the pandemic and the global mobilisation it requires could precipitate the departure of US-led troops from Syria and neighbouring Iraq.

This in turn could create a vacuum in which the Islamic State jihadist group, still reeling from the demise of its "caliphate" a year ago, could seek to step up its attacks.

The Yemeni government and the Huthi rebels initially responded positively to the UN appeal for a ceasefire, as did neighbouring Saudi Arabia, which leads a military coalition in support of the government.

That rare glimmer of hope in the five-year-old conflict was short-lived however and last week Saudi air defences intercepted ballistic missiles over Riyadh and a border city fired by the Iran-backed rebels.

The Saudi-led coalition retaliated by striking Huthi targets in the rebel-held capital Sanaa on Monday.

Talks have repeatedly faltered but the UN envoy Martin Griffiths is holding daily consultations in a bid to clinch a nationwide ceasefire.

More flare-ups in Yemen could compound a humanitarian crisis often described as the worst in the world and invite a coronavirus outbreak of catastrophic proportions.

In a country where the health infrastructure has collapsed, where water is a rare commodity and where 24 million people require humanitarian assistance, the population fears being wiped out if a ceasefire doesn't allow for adequate aid.

"People will end up dying on the streets, bodies will be rotting in the open," said Mohammed Omar, a taxi driver in the Red Sea port city of Hodeida.

Much like Yemen, the main protagonists in the Libyan conflict initially welcomed the UN ceasefire call but swiftly resumed hostilities.

Fierce fighting has rocked the south of the capital Tripoli in recent days, suggesting the risk of a major coronavirus outbreak is not enough to make guns fall silent.

Turkey has recently played a key role in the conflict, throwing its weight behind the UN-recognised Government of National Accord.

Fabrice Balanche predicted that accelerated Western disengagement from Middle East conflicts could limit Turkish support to the GNA.

That could eventually favour forces loyal to eastern-based strongman Khalifa Haftar, who launched an assault on Tripoli one year ago and has the backing of Russia, Egypt and the United Arab Emirates.

Western countries have been hit hardest by the pandemic, which could prompt them to divert both military resources and peace-brokering capacity from foreign conflicts.

A report by the International Crisis Group said European officials had reported that efforts to secure a ceasefire in Libya were no longer receiving high-level attention due to the pandemic.

Iraq is no longer gripped by fully-fledged conflict but it remains vulnerable to an IS resurgence in some regions and its two main foreign backers are at each other's throats.

Iran and the United States are two of the countries most affected by the coronavirus but there has been no sign of any let-up in their battle for influence that has largely played out on Iraqi soil.

With most non-US troops in the coalition now gone and some bases evacuated, American personnel are now regrouped in a handful of locations in Iraq.

Washington has deployed Patriot air defence missiles, prompting fears of a fresh escalation with Tehran, whose proxies it blames for a spate of rocket attacks on bases housing US troops.

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KT
June 15,2020

Dubai, Jul 15: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, announced the launch of a 'New Media Academy in Dubai on Monday - a new institution that will train people on the science of digital media.

Taking to Twitter, Sheikh Mohammed said that new media is a new science that has its own set of special tools and secrets, and that the future cadres of UAE must be at the forefront of it.

"The academy will prepare new experts and managers in the field of communication in government and private institutions, as well as training professional social media influencers", Sheikh Mohammed tweeted, adding that the new media is providing new job opportunities and careers today, and will always be a main supporter in the journey of development.

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News Network
May 4,2020

Dubai, May 4: An Indian salesman in the UAE has won a whopping 10 million dirhams at an Abu Dhabi draw, a media report said.

Dileep Kumar Ellikkottil Parameswaran, from Kerala’s Thrissur, works with an auto spare parts company in Ajman and earns 5,000 dirhams (USD 1,361) a month, Gulf News reported on Sunday.

Parameswaran, who won the 10 million dirhams (USD 2.7 million) prize at the Big Ticket draw in Abu Dhabi, will spend a big part of the money to repay a loan of 700,000 dirhams (USD 190,574 ), according to the report.

He said that a good part of the prize money will be spent on the education of his two children.

Parameswaran, who has been a resident of the UAE for 17 years, lives in Ajman along with his family.

Big Ticket is the largest and longest-running monthly raffle draw for cash prizes and dream luxury cars in Abu Dhabi.

A live monthly draw is organized at the Abu Dhabi International Airport on 3rd of each month.

Tickets are sold for 500 dirhams (USD 136).

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