Four-year bar on expats unacceptable, says JCCI

August 14, 2014

Jeddah, Aug 14: The Ministry of Labor has said it will not make any exceptions to its decision not to allow private firms falling in the yellow level of the Nitaqat Saudization program to keep their foreign manpower for more than four years even as top industry officials questioned the viability of the decision, which they said will be difficult to implement.ministry of labour

"Not even the manpower with accumulated experience or those born in Saudi Arabia will be exempted from the decision," business daily Al-Eqtisadiah reported on Wednesday quoting an official source in the ministry.

The decision will come into effect on Oct. 25 and six months later, the period of stay will be reduced to two years only.

"The decision will strictly apply to all expatriates working for any of the firms in the yellow Nitaqat category whose stay in the Kingdom has exceeded four years," he said.

The source, however, said expatriate workers of these companies will be allowed to transfer their residence permits to firms in the platinum and green Nitaqat levels.

He said the ministry took the decision to force companies in the yellow Nitaqat level to expedite the Saudization process. "The ministry is determined to employ more Saudis in the private sector," he added.

Meanwhile, members of the board of directors of the Jeddah Chamber of Commerce and Industry are unanimous in their opinion that it will be extremely difficult for the ministry to enforce its decision, especially in the industrial and contracting sectors.

They warned that the decision will create a manpower deficiency and will adversely affect the Saudization process.

The members also warned against the security, social and economic implications the decision would have on the labor market. They said the Kingdom would become a source of technical and vocational manpower for other countries if the decision was imposed.

Board member Ahmed Al-Marbaie said the decision could not be implemented on the industrial and contracting companies because they depend mainly on expatriate manpower. "These companies are always looking for expatriate manpower with sufficient experience, which they cannot find among Saudis," he said.

Al-Marbaie said if the ministry was adamant on its decision, the Kingdom would lose its trained and qualified foreign manpower. "In this case, we will be sending the qualified foreign manpower to other countries on a gold platter," he said.

"It is not acceptable to lose our trained foreign manpower and the workers who were born in the Kingdom as a result of this decision," he added.

Ibrahim Batterji, deputy chairman of the chamber's industrial committee, said it is not simply possible for the private companies to train the foreign manpower only to lose them in four years.

He warned that as a result of the decision, people might leave the industrial and contracting sectors and would invest in the commercial sector or the stock market instead.

"Saudization needs more time until the national carders are ready to accept all sorts of jobs. We will not be able to solve the problem of unemployment among Saudis by such decisions," he said.

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Agencies
June 29,2020

Protests condemning the Israeli plan to annex parts of the occupied West Bank are set to take place in the United States and Europe on the same day prime minister Benjamin Netanyahu plans to begin the process.

The demonstrations will be held on Wednesday in Chicago, San Diego, Brooklyn, Los Angeles and San Francisco. Other Western cities will also witness similar protests, including Toronto, Madrid and Valencia.

Students for Justice in Palestine, Jewish Voice for Peace, and American Muslims for Palestine are among the pro-Palestinian groups organizing the protests.

The Samidoun Palestinian Prisoner Solidarity Network, one of the organizers, urged "direct actions and popular mobilizations in [Palestinian] refugee camps, cities and villages," and professed "loyalty to the martyrs" on its call for the events.

Another group, Al-Awda or the Palestinian Right to Return Coalition, decried "72 years of genocide, ethnic cleansing and dispossession" of Palestinians.

It also tied their demonstrations to the protests against anti-black racism in the US and beyond.

"We demand the defunding and dismantling of US police alongside the defunding and dismantling of Zionist colonialism and racist Israeli apartheid," Al-Awda said on its website.

Netanyahu has set July 1 as the date for the start of cabinet discussions on the annexation plan.

He has been driven ahead by US President Donald Trump, who unveiled a “peace” plan for the Middle East in January that effectively sidelines the Palestinians altogether.

The plan, which Trump himself has described as the “deal of the century,” envisions Jerusalem al-Quds as “Israel’s undivided capital” and allows the Tel Aviv regime to annex settlements in the occupied West Bank and the Jordan Valley. The plan also denies Palestinian refugees the right of return to their homeland, among other controversial terms.

The Palestinians want the West Bank as part of a future independent Palestinian state with East Jerusalem al-Quds as its capital.

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Saudi Gazette
May 27,2020

Riyadh, May 27: Following the announcement of easing of lockdown measures, which includes reopening of all mosques for daily congressional as well as Friday prayers across the Kingdom except the holy city of Makkah, the Ministry of Islamic Affairs, Call and Guidance has set mandatory guidelines.

In a circular issued to mosque staff, Minister of Islamic Affairs, Call and Guidance Sheikh Abdullatif Al-Asheikh has instructed that all mosques must comply with the following precautionary measures and instructions:

1. Open mosques 15 minutes before the Adhan and close them 10 minutes after prayer

2. Reduce the waiting period between the Adhan and Iqamah to 10 minutes

3. Open windows and doors from entering time to the end of the prayer

4. Remove copies of Holy Qur’an and other books temporarily from mosques

5. Ensure attendees keep a distance of two meters between each other

6. Ensure one space is left between each row

7. Close all water coolers and refrigerators

8. Do not allow distribution of water or food in mosques

9. Close toilets and places of ablution

Precautionary measures on Friday prayers are as follows:

1. Open mosques 20 minutes before Friday prayer and closing them 20 minutes after prayer.

2. Friday sermon with prayer should not exceed 15 minutes.

The circular also stipulates to keep the suspension of the religious courses, programs and lectures, as well as the memorizing Holy Qur'an sessions in the mosques and to continue education and lectures remotely until further notice.

The circular pointed out that the imams of mosques should urge the worshipers to take the following precautionary measures:

1. Wear a face mask

2. Bring their own prayer rugs and not leave them after the prayer

3. Prevent accompanying children under 15 years of age from entering mosques

4. Perform ablution at home

5. Avoid crowding when entering or exiting mosques

Meanwhile, the spokesman of the Ministry of Interior clarified later in the day that people are allowed to perform congressional prayers in their locality during the time of curfew.

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Agencies
June 18,2020

New Delhi, Jun 18: Reliance Industries Ltd on Thursday said it has sold a 2.32 per cent stake in its digital unit to Saudi Arabia's Public Investment Fund (PIF) for Rs 11,367 crore, taking the cumulative fund raising to about Rs 1.16 lakh crore in two months.

Starting with Facebook Inc on April 22, Reliance has sold almost 25 per cent of equity in Jio Platforms - the maximum reports suggest the company intends to dilute to financial investors.

The investment by Saudi sovereign wealth fund is "at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore", the company said in a statement.

With this investment, Jio Platforms has raised Rs 115,693.95 crore from some of the leading global investment powerhouses at a time when the world is deeply impacted by the coronavirus pandemic, resulting in a recession kind of environment for the global economy.

"With the addition of PIF's investment, Jio Platforms has established partnerships with a marquee set of global financial investors, who will contribute to establishing the Digital Society vision for India," the statement said.

Jio Platforms houses India's biggest telecom firm by subscribers, Reliance Jio. With more than 388 million users, Jio has forced out several rivals and driven consolidation in the sector since entering the market in 2016 with free voice services and cut-price data.

Over the past two months, billionaire Mukesh Ambani's oil-to-telecom conglomerate has announced the sale of about $14 billion of assets, completed a Rs 53,124 crore rights issue and slowed the run rate of new investment by a quarter.

These will help Reliance meet its target of paying off Rs 1.61 lakh crore of net debt by the end of the year.
This is PIF's largest investment into the Indian economy to date.

Ambani, chairman and managing director of Reliance Industries, said, "We at Reliance have enjoyed a long and fruitful relationship with the Kingdom of Saudi Arabia for many decades. From oil economy, this relationship is now moving to strengthen India's New oil (data-driven) economy, as is evident from PIF's investment into Jio Platforms."

Yasir Al-Rumayyan, governor of PIF, commented: "We are delighted to be investing in an innovative business which is at the forefront of the transformation of the technology sector in India. We believe that the potential of the Indian digital economy is very exciting and that Jio Platforms provides us with an excellent opportunity to gain access to that growth."

"This investment will also enable us to generate significant long-term commercial returns for the benefit of Saudi Arabia's economy and our country's citizens, in line with our mandate to safeguard and grow the national wealth of the Kingdom," he said.

The transaction is subject to Indian regulatory and other customary approvals.

Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels.

Prior to this deal, Reliance had sold 22.38 per cent of Jio Platforms to investors including Facebook Inc, securing Rs 104,326.95 crore in eight weeks.

Facebook kicked off the party, investing Rs 43,573.62 crore for a 9.99 per cent stake on April 22. This was closely followed by a further Rs 60,753.33 crore in investment.

Silver Lake - the world's largest tech investor - bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore on May 4. It invested another Rs 4,546.80 crore for additional 0.93 per cent stake on June 5, taking its total holding to 2.08 per cent
Private equity KKR and Vista Equity Partners have taken 2.32 per cent stake each for Rs 11,367 crore apiece. KKR invested in Jio Platforms on May 22 while Vista invested on May 8.

Abu Dhabi sovereign wealth fund Mubadala Investment Co picked up 1.85 per cent in Jio Platforms for Rs 9,093.60 crore on June 5. Abu Dhabi Investment Authority on June 7 invested Rs 5,683.50 crore for a 1.16 per cent stake in Jio Platforms.

On May 17, global equity firm General Atlantic picked up 1.34 per cent stake in Jio Platforms for Rs 6,598.38 crore.

Global investment firm TPG on June 13 picked up 0.93 per cent for Rs 4,546.80 crore while L Catterton bought 0.39 per cent for Rs 1,894.50 crore.

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