Nitaqat paying off: Fakieh

June 13, 2013
nitaqat2
Geneva, Jun 13: Labor Minister Adel Fakieh said here on Wednesday that initiatives and programs launched recently in the Kingdom have given distinctive results in providing suitable job opportunities to Saudis and increasing women’s participation in the labor market.

Addressing an International Labor Conference, he said that the Nitaqat program for Saudization of jobs launched in June 2011 has helped increase the percentage of Saudi workers in the private sector from 10 to over 13.

At the end of 2012, 615,000 male and female Saudi nationals were employed in the private sector.

He said the percentage of Saudi women who were employed in full-time jobs in the private sector witnessed an unprecedented increase.

The number of Saudi women employed for the first time in the private sector in 2012 reached 180,000, three times more than the employment figure before Nitaqat.

He told the gathering that the employment of differently abled people received special attention in the Nitaqat program. Since the launching of Nitaqat in 2011 until the end of 2012, 17,000 physically challenged people were employed.

He said the Ministry of Labor also launched the system to protect salaries in the private sector. Firms have been asked to pay salaries through banks. He said the ministry has started implementing this system in phases as of June 2013.

Fakieh said the Labor Ministry has completed the procedures for inspections to increase efficiency and transparency.

It has also completed preparing the occupational health and safety file in the Kingdom.

Fakieh said that necessary procedures have been approved to join ILO’s convention on minimum age for employment.

The convention adopted in 1973 by the International Labor Organization (ILO) requires ratifying states to pursue a national policy designed to ensure the effective abolition of child labor and to raise progressively the minimum age for admission to employment or work.

Countries are free to specify a minimum age for labor, with a minimum of 15 years.

A declaration of 14 years is also possible when for a specified period of time. Laws may also permit light work for children aged 13–15 (not harming their health or school work).

The minimum age of 18 years is specified for work which “is likely to jeopardize the health, safety or morals of young persons.

In its latest report released on Tuesday in Geneva, ILO called for an end to child labor in domestic work and adequate protection of young workers against abusive working conditions.

Statistics of the new ILO report showed that an estimated 15.5 million children (i.e. below the age of 18) were involved in paid or unpaid domestic work in the households of a third party or employer other than their own families, carrying out tasks such as cleaning, cooking and looking after other children, the sick and the elderly.

Of these children, about 10.5 million were in child labor either because they were below the legal minimum working age or were working in hazardous or even slave-like conditions, among whom 6.5 million were aged between 5 and 14 years old, and more than 71 percent were girls, the report noted.

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Agencies
July 19,2020

Kuwait City, Jul 19: Kuwaiti ruler Sheikh Sabah al-Ahmad al-Jaber al-Sabah has successfully undergone surgery early on Sunday, the emir's office said.

"His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah ... has undergone surgery this morning, with thanks to God for its success," the head of the emir's office Sheikh Ali Jarrah al-Sabah said, as quoted by state news agency KUNA.

The 91-year-old was admitted to hospital for a medical checkup.

Yesterday, a royal order was issued assigning Crown Prince Sheikh Nawaf al-Ahmed al-Sabah, the emir's designated successor, "to take over some constitutional jurisdictions of His Highness the Emir temporarily"

In August 2019, Kuwait acknowledged the emir suffered an unspecified medical "setback" that required him to be hospitalised.

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Agencies
April 2,2020

Ankara, Apr 2: Saudi Arabia on Thursday declared a 24-hour lockdown in all parts of Makkah and Medina cities as part of measures to stem the spread of the coronavirus.

"The 24-hour curfew will be imposed in all parts of the cities of Makkah and Medina, with a ban on entry and exit from both cities," the Saudi Interior Ministry said on Twitter.

The lockdown starts from Thursday “until further notice.”

All commercial activities inside the residential neighborhoods of the two cities were also prohibited, except for pharmacies, food products stores, gas stations and banking services, the ministry said.

After first appearing in Wuhan, China last December, the virus has spread to at least 180 countries and regions, according to U.S.-based Johns Hopkins University.

Its data shows the number of confirmed cases worldwide have surpassed 962,900, with the death toll over 49,100 and more than 202,700 recoveries.

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News Network
January 12,2020

Dubai, Jan 12: Saudi Arabian oil giant Aramco announced Sunday that its initial public offering raised a record $29.4 billion, a figure higher than previously announced, after the company used a so-called "greenshoe option" to sell millions more shares to meet investor demand.

The company said that the sale of an additional 450 million shares took place during the initial public offering process.

The oil and gas company, which is majority owned by the state, began publicly trading on the local Saudi Tadawul exchange on December 11. It hit hit upwards of $10 a share on the second day of trading. This gave Aramco a market capitalization of $2 trillion, making it comfortably the world's most valuable company.

Aramco's additional sales mean the company has publicly floated 1.7% of its shares. It's IPO, even before the added sales, was the world's largest ever.

The shares sold in the over-allotment option "had been allocated to investors during the book-building process and therefore, no additional shares are being offered into the market today," Aramco said.

Company shares traded down on Sunday, dipping to around 34.7 riyals, or $9.25 a share, amid heightened tensions in the Persian Gulf between Iran and the United States. Aramco was a target of rising tensions over the summer when a missile and drone attack, which Saudi Arabia and the US blame on Iran, temporarily halved its production.

Sunday's trading figures value Aramco at $1.85 trillion, still well ahead of Apple, the second largest company in the world after Aramco, but below the $2 trillion mark sought by Crown Prince Mohammed bin Salman.

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