Saudi king Salman to launch 'entertainment city' near Riyadh

Agencies
April 24, 2018

Riyadh, Apr 24: Saudi King Salman will launch the construction of an "entertainment city" near Riyadh on Wednesday, authorities said, part of a series of multi-billion dollar projects as the kingdom seeks to diversify its oil-reliant economy.

The 334-square kilometre project in Qiddiya, southwest of Riyadh, would rival Walt Disney and include high-end theme parks, motor sport facilities and a safari park, officials say.

The facility highlights a "relentless effort to develop giga-projects that will help achieve many direct and indirect economic returns", project official Fahd bin Abdullah Tounsi was quoted as saying in a government statement on Monday.

Qiddiya chief executive Michael Reininger said he expects the project will draw foreign investors in entertainment and other sectors, but did not specify the total cost of construction.

Such projects are the brainchild of Crown Prince Mohammed bin Salman, a self-styled liberal change agent who is the chief architect of the sweeping "Vision 2030" reform programme.

Saudi Arabia has dazzled investors with several plans for hi-tech "giga projects", funded in part by its sovereign wealth fund, but some sceptics question their viability in an era of cheap oil.

The kingdom has unveiled blueprints to build NEOM, a mega project billed as a regional Silicon Valley, in addition to the Red Sea project, a reef-fringed resort destination -- both worth hundreds of billions of dollars.

Analysts say the projects could create funding pressures at a time when the government faces a yawning budget deficit and growth in the kingdom`s non-oil economy is only slowly gathering pace.

The reform stems partly from an economic motive to boost domestic spending on entertainment as the kingdom has been reeling from an oil slump since 2014.

Saudis currently splurge billions of dollars annually to see films and visit amusement parks in neighbouring tourist hubs like Dubai and Bahrain.

In February, Saudi Arabia`s General Entertainment Authority (GEA) announced it will stage more than 5,000 festivals and concerts in 2018, double the number of last year, and pump $64 billion in the sector in the coming decade.

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abdul
 - 
Friday, 27 Apr 2018

next dance bar in Salaman palace 

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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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News Network
April 24,2020

Riyadh, Apr 24: As many as eleven Indian nationals have died due to COVID-19 in Saudi Arabia.

"As per information available with the Embassy as of April 22, eleven Indian nationals (four in Madinah, three in Makkah, two in Jeddah, one in Riyadh and one in Dammam) have passed away due to COVID-19 in Saudi Arabia," the Embassy of India in Saudi Arabia said in a press release on Wednesday.

It urged the Indian community to remain calm and avoid spreading of rumours amid the COVID-19 crisis.

"The Embassy also reiterates the need for the community to remain calm and avoid spreading of rumours that may create panic. It is important that social media is not used to disseminate false messages and spread hatred along communal lines that can vitiate the atmosphere," the Embassy said.

"As stated by Prime Minister Narendra Modi, COVID-19 does not see race, religion, colour, caste, creed, language or borders before striking, and our response and conduct should attach primacy to unity and brotherhood," it said.

Moreover, several measures on the supply of food, medicines and other emergency assistance to Indians in need are being implemented across the Kingdom.

Earlier, Indian Ambassador to Saudi Arabia, Ausaf Sayeed on April 22 had interacted with Indian community volunteers from the smaller towns all across the Kingdom to discuss the impact of the COVID-19 situation, and evaluate the implementation of various measures to ensure the welfare of Indian nationals.

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News Network
June 23,2020

Riyadh, June 23: Saudi Arabia has decided to go ahead with the Hajj pilgrimage with strict health measures and protocols in an effort to prevent the spread of covid-19.

Minister of Health Dr. Tawfiq Al-Rabiah and Minister of Hajj and Umrah Dr. Muhammad Saleh Benten today addressed a joint virtual press conference today. 

Minister of Hajj expected that number of domestic pilgrims performing the pilgrimage this year will not be more than 10,000. He also confirmed that no pilgrims from outside the Kingdom will be allowed to perform Hajj this year.

Dr. Al-Rabiah said pilgrims should be less than 65 years of age and not suffering from any chronic diseases.

The Hajj pilgrimage, which is one of the five pillars of Islam and a must for able-bodied Muslims at least once in their lifetime, will this year only welcome a “limited number” of people from inside the Kingdom, authorities had said on Monday.

Every year, about 2.5 million pilgrims visit the holiest sites of Islam in Makkah and Madinah, which could make it a possible breeding ground for the disease.

To prevent COVID-19 from spreading among pilgrims, the health ministry, in collaboration with the Ministry of Hajj and Umrah, has developed the plan to ensure the safety of all visitors.

“We have worked with the Ministry of Health to develop preventative and precautionary measures and protocols that are needed to ensure a safe Hajj season,” Benten said.

Protocols:

1. No more than 10,000 people will be allowed to perform the Hajj pilgrimage.

2. All pilgrims will be tested before they reach the holy sites.

3. Only those under the age of 65 will be allowed to perform Hajj this year.

4. All pilgrims will be asked to self-quarantine after they complete the Hajj rituals.

5. All workers and volunteers will be tested before the Hajj pilgrimage begins.

6. The health status of all pilgrims will be monitored daily.

7. A hospital has been prepared for any emergency that occurs during the pilgrimage.

8. Social distancing measures will be enforced.

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SAN
 - 
Tuesday, 23 Jun 2020

Please check its 1000 or 10,000

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