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Saudi jobless rate down to 11.7%: Nitaqat pays off

February 16, 2015

Jeddah, Feb 16: The Nitaqat nationalization program was successful in bringing down the Kingdom’s unemployment rate to 11.7 percent — 5.9 percent among men and 32.5 percent among women, said the Central Department of Statistics and Information (CDSI).

Saudi joblessIn a statement issued on Sunday, the department put the total number of unemployed Saudis at 650,000, including 258,000 men and 392,000 women.

The department, which comes under the Ministry of Economy and Planning, said reports on unemployment rate in the Kingdom published by some newspapers and other media organizations were not correct.

It emphasized that the Labor Ministry has been supporting the statistics issued by the department in the previous years.

Referring to the statistics issued by the Human Resource Development Fund (HRDF), the CDSI said those figures are related to people who have registered with its Hafiz program to get unemployment benefits.

“Those figures do not represent the number of unemployed Saudis in any way,” the department insisted. “Neither the Labor Ministry nor HRDF and CDSI have published these figures as unemployment indicators,” it added.

A previous report said the unemployment rate among Saudi women in 2013 was 34 percent and among men 6.2 percent. A manpower expert attributed the increase in unemployment rate among women to high percentage of fresh graduates and lack of new job opportunities suitable for them.

The Labor Ministry intends to launch the third phase of Nitaqat on April 20 to create more jobs for Saudis in the private sector.

The Nitaqat helped employ 750,000 Saudis in the private sector until the end of the Hijrah year 1435, showing 15.6 percent rise in Saudization during the year.

Saudi bloggers did not agree with the department’s figures and said the unemployment rates among men and women are much higher. “The total number of unemployed Saudis will be more than a million,” said one blogger while another said the figure would cross six million.

Another blogger pointed out that 1.5 million Saudi men and women have been registered with Hafiz program to receive unemployment allowance, questioning the CDSI statistics. “I think the unemployed in remote villages may not have been counted by CDSI,” said another blogger.

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News Network
March 11,2020

Mar 11: Energy giant Saudi Aramco on Wednesday said it plans to raise its crude production capacity by one million barrels per day to 13 million bpd as a price war with Russia intensifies.

"Saudi Aramco announces that it received a directive from the ministry of energy to increase its maximum sustainable capacity from 12 million bpd to 13 million bpd," the company said in a statement to the Saudi Stock Exchange.

The decision comes a day after the world's top exporter, Saudi Arabia, decided to hike production by at least 2.5 million bpd to a record 12.3 million from April.

The Saudi moves come after the collapse of an oil production reduction agreement between OPEC and non-OPEC producers, including Russia.

The deal proposed by Saudi Arabia called for additional output cuts of 1.5 million bpd to cope with the severe economic impact of the coronavirus which has sharply reduced world demand for crude.

Boosting production capacity normally takes a long time and requires billions of dollars of investment.

Several years ago, the kingdom had shelved plans to boost its crude production capacity beyond 12 million bpd after demand for OPEC oil declined in the face of stiff competition from North American shale oil and other sources.

Russia on Tuesday said it was open to renewing cooperation with the OPEC cartel even as its kingpin Saudi Arabia escalated a price war with Moscow by announcing it would flood markets with new supplies.

The oil price war broke out after OPEC and a group of non-member countries dominated by Russia -- the world's second largest producer -- on Friday failed to agree on production cuts.

Saudi Arabia responded by announcing unilateral price cuts. This prompted the oil price to plummet and fuelled huge falls on stock markets around the world on Monday.

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Agencies
July 30,2020

Kuwait will allow citizens and residents to travel to and from the country, starting August 1, the government communication center tweeted on early Thursday, citing a cabinet decision.

The decision excludes residents coming from Bangladesh, Philippines, India, Sri Lanka, Pakistan, Iran, Nepal.

Last month, Kuwait announced it would partially resume commercial flights from August, but does not expect to reach full capacity until a year later, as its aviation sector gradually recovers from a suspension sparked by the Covid-19 crisis.

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News Network
April 28,2020

Riyadh, Apr 28: The number of confirmed coronavirus cases in Saudi Arabia crossed the critical 20,000-mark on Tuesday with the discovery of 1,266 new cases. Eight new deaths were also recorded during the last 24 hours, bringing the virus-related death toll to 152.

Twenty-three percent of the new cases are of Saudi nationals, while 77 percent are of non-Saudi residents, Saudi Press Agency (SPA) quoted the ministry spokesman Dr. Muhammad Al-Abdel Ali as saying.

Out of the total 20,077 cases till Tuesday, 17,141 cases are active, he added. A total of 118 cases are currently critical, the spokesman said.

Out of the 1,266 new cases, 327 were reported in Makkah, 273 in Madinah, 262 in Jeddah, and 171 in Riyadh. There were 58 cases in Jubail, 35 in Dammam, 32 in Taif, 29 in Tabuk and 18 in Al-Zulfi. Additionally, nine cases were recorded in Khulais; eight in Buraidah; seven in Al-Khobar; five in Hufof; four each in Qatif and Ras Tanura; three in Adhum; two each in Al-Jafr, Al-Majaridah, Yanbu, Bisha and Diriyah; and one each in Abha, Khamis Mushayt, Baqeeq, Dhahran, Dhalum, Sabiya, Hafr Al Batin, Hail, Sakaka, Wadi Al-Dawasir and Sajr, the spokesman said.

The Kingdom saw a spike in cases when the health ministry began its field-testing efforts nearly two weeks ago, targeting suspected infection cluster areas. Since then, there has been a steady increase in daily cases.

Till Monday, around 1 million people were screened in various neighborhoods throughout the Kingdom.

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