Riyadh, Dec 19: Saudi Arabia said it intercepted a Yemeni rebel missile over Riyadh on Tuesday.
“Ballistic missile intercepted over Riyadh,” the Coalition battling Yemen’s Houthi rebels said in a statement.
It was the second Houthi missile attack on Riyadh in the past two months.
The missile was supplied to Houthis by Iran.
On Thursday, US ambassador to the United Nations Nikki Haley presented what she called “undeniable” evidence that last month’s missile was “made in Iran”
Dubai, May 5: A Saudi ministerial decision issued on Monday allows companies in the private sector to reduce salaries by 40 per cent and allows termination of contracts owing to the economic hardships resulting from the COVID-19 pandemic, according to daily newspaper Al Sharq Awsat.
The new decision was still not published by the cabinet according to the newspaper.
The decision which the newspaper saw a copy of was signed by Saudi Ministry of Human Resources and Social Development to regulate the labour contract in the current period, allows employers to reduce the employees salaries by 40 percent of the actual effective wage for a period of 6 months, in proportion to the hours of work and allowing the termination of employee contract after 6 months of the COVID-19 circumstances.
The new decision has also included a provision in which the employer would be allowed to cut wages even he or she benefits from the subsidy provided by the goverment, such as those for helping pay workers wages or exemption from government fees.
The decision also stressed that employers are not allowed to terminate any employee, unless three conditions are met.
1. First the passing of six months since the measures of salary cut has been taken
2. Reducing pay, annual leave and exceptional leave were all used
3. Company proves that its facing financial troubles due to the circumstances.
The memo, which goes into affect as soon as its published in the government’s official newspaper, ensures that the employee will receive his/her salary if on annual leave within the period of 6 months.
Jammu, Jan 15: Fresh landslides kept the Jammu-Srinagar National Highway shut for the third consecutive day on Wednesday, leaving over 5000 vehicles stranded.
"There were four fresh landslides in Digdol and Panthiyal belts on the highway in Ramban district. The traffic on the highway remained closed for the third day today", a police officer told PTI.
On Monday, heavy rains triggered shooting of stones in Moumpassi, Digdole and Panthiyal areas, forcing a suspension of the traffic, the official said.
Snowfall in Kashmir side of the highway, including Jawahar Tunnel, since Sunday has resulted in blockade of the highway.
"No fresh traffic was allowed from Nagrota in Jammu for Kashmir", he said.
As a result of the blockade of the highway, over 5000 vehicles remained stranded at various places en route from Lakhanpur in Kathua district to Banihal belt of Ramban district and also on the Kashmir side.
Singapore, Jun 2: Moody's Investors Service on Tuesday downgraded 11 Indian banks along with as many non-financial companies and infrastructure majors besides four government-related issuers following a downgrade of the Indian government's issuer rating to Baa3 from Baa2 with a negative outlook.
The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, volatile oil prices and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets, said Moody's.
The Indian banking sector has been affected given the disruptions to India's economic activity from the coronavirus outbreak, which is weakening borrowers' credit profiles, it added.
The 11 lenders include Bank of Baroda, Bank of India, Canara Bank, Central Bank of India, Export-Import Bank of India, HDFC Bank, Indian Overseas Bank, IndusInd Bank, Punjab National Bank, State Bank of India and Union Bank of India.
The 11 non-finance companies are Oil and Natural Gas Corporation, Hindustan Petroleum Corporation, Oil India, Indian Oil Corporation, Bharat Petroleum Corporation, Petronet LNG, Tata Consultancy Services, Infosys, Reliance Industries, UPL Corporation and Genpact.
The 11 infrastructure companies are NTPC, NHPC, National Highways Authority of India, Power Grid Corporation, Gail India, Adani Green Energy Restricted Group (RG-2), Adani Transmission Restricted Group, Adani Ports and Special Economic Zone, Adani Transmission, Adani Electricity Mumbai and Azure Power Solar Energy.
The four Indian government-related issuers are Indian Railway Finance Corporation, Housing and Urban Development Corporation, Power Finance Corporation and REC Ltd.
"Government-related issuers in India have been affected because of disruptions to India's economy which will weaken borrowers' credit profiles," said Moody's.
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Who knows Missile may b made in America also....!!!!!
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