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King to open 6 mega projects today

November 25, 2016

Dammam, Nov 25: Custodian of the Two Holy Mosques King Salman has paid tribute to the warm hospitality of people in the Eastern Province.

kingAddressing a reception held in his honor in Dammam on Thursday evening, King Salman said: “I deeply thank the people of this region, among (whom) I will always be pleased to find myself, for their unbound hospitality.”

He said the Kingdom’s Vision 2030 plan reflected the strength and the might of the Saudi economy. “(It is) a vision that will provide the Kingdom (with) wider and more comprehensive prospects,” he said, according to SPA.

“Our approach is steadfast and rock-solid; it is seeking a comprehensive, balanced and integrated development in various parts of the Kingdom,” the king added, promising to “make opportunities available to all and to realize legitimate aspirations, within the framework of the state’s rules and norms.”

King Salman is in Dammam to open six mega projects developed by the energy giant Saudi Aramco, which are expected to be launched on Friday.

At the reception, King Salman was accompanied by Madinah Gov. Prince Faisal bin Salman. The king was received by Crown Prince Mohammed bin Naif and Eastern Province Gov. Prince Saud bin Naif.

Prince Saud bin Naif welcomed the king, expressing pleasure at the royal visit.

“Words fail to express the sentiments harbored by the well-wishing citizenry of the region on this exceptional occasion of having the king among us,” the governor said, assuring the king that the entire nation will work hard to implement the Kingdom’s Vision 2030.

One of the projects to be launched on Friday is the King Abdulaziz Center for World Culture (iThra), which is a platform to encourage creativity, innovation and communication between different cultures, promote Saudi Arabia’s efforts in building a knowledge-based economy and deal with modern technologies of new generations.

The center seeks to enhance investment in members of the community to encourage learning and exploration, as well as find economic opportunities by developing a generation of thinkers, innovators and creators in the Kingdom. The center also seeks to provide unlimited economic opportunities as a result of such innovation and creation.

The king will also inaugurate the Khurais oil field, which is one of the last giant oil fields to be discovered in the world. The oil field has obtained a high global ranking in terms of size, and is located near the world’s largest oil field, Ghawar.

Among the other large projects to be launched and expanded is the project to increase crude oil production at the Manifa oil field, one of the largest crude oil production projects in the world.

King Salman will also inaugurate the Wasit gas plant project, north of Jubail Industrial City, which is set to help meet Saudi Arabia’s energy needs. The project comes as part of Vision 2030, which stipulates as part of its economic plan the importance of doubling gas production levels and establishing a natural network to expand distribution activities.

The king will also inaugurate the expansion project of the Shaybah crude oil field, which is one of the largest projects of its kind, in both the Middle East and wider world.

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coastaldigest.com news network
June 16,2020

Dubai, Jun 16: In a humanitarian gesture, a UAE-based Pakistani businessman has come forward to offer free interim accommodation options to covid lockdown hit expatriates. 

The men benefitted from Ali Rao's housing initiative include Indians, Pakistanis and Africans. 

Inspired by the ongoing efforts taken by the UAE leadership to take care of all UAE residents, Ali Rao, CEO of Rao Holdings LLC in Dubai is offering free shared accommodation to unemployed male bachelors and workers, especially expatriates who do not have a place to stay.

Ali Rao currently has a capacity of 100 accommodation options that he wishes to offer to those who cannot afford house rent. 

"We have already placed 25 such men in these housing options spread across Al Quoz, Jebel Ali and Muhaisnah areas of Dubai," Ali Rao told local media. He works in collaboration with major charities in Dubai, who refer the cases to Rao.

"One of our companies - the property management division - deals with industrial housing accommodation. We decided to put this space to good use when I came across media articles that highlighted the plight of these homeless men," he said. 

Rao has already sheltered 25 homeless workers in the Al Quoz area. "We have received applications for 35 more, however, many of these men are due to return to their home countries, so we are awaiting confirmation from the charities," he explained. He has provided them with free Wi-Fi, bedding, blankets, bedsheets, and pillows.

"In one unit, we provide them with food and the other unit, social workers and the associated charities deliver food," he added. The housing is exclusively for men and not for women and families. "Many are seeking jobs, so they needed Wi-Fi. I went to the camps today and set up a Wi-Fi connection. Someone wanted to eat eggs, so we got him some eggs and rice. These are simple things most of us take for granted, but to many people this is vital," he added.

Since most of the residents are looking to return to their home countries, Rao is also in the process of providing them with air tickets.

"If the need arises, we will add more units," he explained. Rao said, "The ongoing pandemic has hit everyone hard, especially those with no security to fall back on. The economic and income disparities have only increased in this time, with those dependent on daily wages being rendered homeless in massive numbers across the globe."

He added, "I felt heartbroken and if I would stand by and watch, I would feel very small as a human being, I won't be able to stand in front of the creator I thought to myself. These are some very difficult times for all of us."

A beneficiary of the programme said, "I am very happy with this initiative as living outside in the summer is very difficult. It's very hot. I want to thank God and this company for providing me with a roof over my head."

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News Network
May 10,2020

Dubai, May 10: Kuwait will enact a "total curfew" from 4pm (1300 GMT) on Sunday through to May 30 to help to curb the spread of the new coronavirus, the Information Ministry said on Twitter on Friday.

Further details of the curfew will be announced soon, it said.

Kuwait on April 20 expanded a nationwide curfew to 16 hours a day, from 4pm to 8am, and extended a suspension of work in the public sector, including government ministries, until May 31.

On Friday the Gulf state announced 641 new coronavirus cases and three deaths, bringing its total number of confirmed cases to 7,208, with 47 deaths.

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Agencies
July 28,2020

Dubai, Jul 28: Abu Dhabi Commercial Bank (ADCB) (ADCB.AD) is letting go hundreds of employees, sources said, the latest in a round of lay-offs by regional banks as pressure mounts to cut costs amid lower oil prices and the coronavirus crisis.

The UAE’s third-biggest lender is laying off 400 employees, two sources familiar with the matter said, after it had committed to not cutting staff because of the crisis.

In a statement, a spokesman said ADCB had pursued efficiency over the last decade by managing out its lowest underachievers after regular reviews, while ensuring talent was deployed in high-growth areas, such as digital banking.

“A certain number of redundancies are therefore expected every year in the normal course of business,” the bank spokesman added.

The sources said the cuts would involve ADCB’s consumer business and several in top management were among those being let go. One source said the bank was looking to close 20 branches.

In March, ADCB had declared, “No employee will be made redundant during 2020 as a result of the COVID-19 pandemic.”

UAE banks have been hit by government measures to rein in the spread of the virus, forcing many businesses to shut temporarily.

Last week, Dubai’s largest bank, Emirates NBD, reported a slump of 58% in profits. In June, sources told Reuters the bank started a new round of hundreds of lay-offs.

In May, ADCB reported a fall of 84% in first-quarter net profit as it took impairments of $292 million on debt exposure to troubled hospital operator NMC Health and payments group Finablr.

It was a major lender, with an exposure of about $981 million, to NMC Health, which went into administration this year after months of turmoil following questions over financial reporting.

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