Saudization: 20,000 Riyal fine for each expat working in gold sector

News Network
November 29, 2017

Jeddah, Nov 29: Gold and jewelry shops that employ foreigners will be asked to pay a fine of Saudi Riyal 20,000 (around Rs 3.5 lakh) for each expat worker after Dec 3 when 100% Saudization of the sector comes into force.

The ministry also intends to appoint permanent inspectors in every market and mall to conduct surprise inspections and punish violators of the Saudization law.

Khaled Aba Al-Khail, spokesman of the Ministry of Labor and Social Development, said field inspectors will track down violators and impose fines after the Dec. 3 deadline.

However, members of the precious metal and stone committee at the Council of Saudi Chambers have expressed their reservation over the success of Saudization in the sector.

“We need to fight tasattur or cover-up business to make Saudization successful,” said Abdul Mohsen Al-Namir, a member of the committee, referring to jewelry shops run by expats in the name of Saudis.

There are more than 6,000 gold and jewelry shops in the Kingdom that employ about 25,000 workers including expatriates. Some of them are owned by foreign investors.

“The success of Saudization depends on the success of fighting corruption. Many owners of gold and jewelry shops and showrooms are foreigners,” Al-Namir told Al-Madina Arabic newspaper.

“Many of the shops are in the name of Saudis but they are actually owned by expats. Some foreigners have entered into partnership business with Saudis,” he explained.

Al-Namir also spoke about the possibility of accommodating Saudis involved in tasattur business as investors.

He asked the ministry to study the reasons for the failure of Saudization and give shops enough time to deal with the reasons that have prevented 100 percent Saudization of the sector for the last 16 years.

“At present Saudization rate in the sector does not exceed 50 percent,” he pointed out.

Abdul Ghani Al-Muhanna, another member of the committee, expressed hope that the ministry’s full-scale Saudization will lead to saving the sector from tasattur (cover-up) business.

“The decline in the number of Saudi employees in the sector is really a matter of deep concern,” he said told Al-Madina newspaper.

He said expatriates were purposely trying to keep Saudis away from the sector to maintain their dominance.

Saudi employees in the sector are forced to work long hours affecting their social and family commitments, Al-Muhanna said.

“Many Saudis receive low salaries which has forced them to leave their jobs at gold and jewelry showrooms,” he pointed out.
 

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Althaf
 - 
Wednesday, 29 Nov 2017

Acche din for saudis. 

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News Network
January 16,2020

Mangaluru, Jan 16: Following the widespread protests against the National Register of Citizens (NRC) and Citizenship Amendment Act (CAA), former minister and MLA UT Khader on Thursday urged the Centre and State government to address the concerns of the people.

Speaking to reporters here on Thursday, he said there is widespread confusion among the public with regard to the implementation of the Act. People are reluctant to open their doors to Asha workers, out of fear that the NRC exercise is being implemented, said Khader.

He urged the chief minister and home minister to gain the trust of the people on the CAA issue.

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coastaldigest.com news network
July 26,2020

Belthangady, Jul 26: The forest department officials on Sunday banned traffic in Charmadi ghat section as a precautionary measure following information that landslide and uprooting of trees may take place due to heavy rain which has been lashing the ghat section since last one week.

The officials said that a tree was likely to be uprooted in the 6th and 7th cross of the ghat section therefore the entry of vehicles were banned and this has resulted in a traffic jam.

It is said that despite lockdown many vehicles have been playing in the Ghat section.

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Agencies
January 19,2020

Bengaluru, Jan 19: Technology hub Hyderabad has edged out 129 other cities in the world to emerge as the world's most dynamic city, according to the seventh edition of the City Momentum Index by global real estate services firm JLL.

The city has pushed Bengaluru to second place to regain the top position after a gap of one year. Chennai is at fifth and Delhi is at sixth place.

While Hyderabad and Bengaluru are the top two cities globally for socio-economic momentum, a more active real estate market helped elevate Hyderabad to first position in the overall ranking, says the report released by the US-based Jones Lang Lasalle (JLL) on Saturday night.

Hyderabad recorded the highest office net absorption in 2019 (as a proportion of existing stock) of any city globally, while it is also among the world's best-performing cities for prime office rental growth.

While all seven major Indian cities feature in this year's Global Top 20, cities in south India in particular - Hyderabad, Bengaluru and Chennai (5th) "are ahead of their northern peers, supported by favourable demographics and business climates".

"Their expanding tech industries and start-up cultures make them a magnet for young and ambitious talent from across the country, with Bengaluru having one of the world's largest concentrations of 'engine room' population (20-40-year-olds), typically the most dynamic and productive age cohort," says the report.

Kolkata and Mumbai made it to the top 20 and stood at the 16th and 20th positions. Despite an economic slowdown, India leads the 2020 Index with seven Indian cities in the top 20.

"Commercial real estate in south Indian cities is growing at a rapid pace. Hyderabad has seen tremendous growth in 2019 in line with that of Bengaluru. The city has actively embraced technology-driven economic growth and attracted large tech giants and e-commerce players. The state government's focus on business-friendly policies and provision of high-quality infrastructure along with availability of quality talent pool and superior quality business parks has given Hyderabad a competitive edge," said Ramesh Nair, CEO and Country Head - India, JLL.

Telangana's Minister for Information Technology and Industry K T Rama Rao said he was thrilled over Hyderabad not only regaining the top slot but also over the fact that it was competing with cities like Shenzhen and Shanghai in innovation economy.

The minister said 50 percent weightage from socio-economic indicators beside the remaining 50 percent from commercial and real estate was also heartening.

KTR, as the minister is popularly known, noted that in 2014 when Telangana attained statehood, Hyderabad was not even in the list. He recalled that when Telangana was formed there were many doubts as to what would happen to Hyderabad. "It entered the top 20 in 2015 and rose to fifth place in 2016 and third position in 2017. Hyderabad topped the list in 2018 and finished second the last year. This year it is back at the top," he said.

The JLL City Momentum Index identifies a number of key growth drivers, including talent attraction, the expansion of innovation hubs and better urban planning, that cities can employ to meet the challenges faced by rapid momentum.

Several cities in the top 20 stand out as they transform their urban environments in pursuit of a low-carbon future. In India, Hyderabad is looking at technology to reduce the demand for air conditioning with cool roofs that reflect sunlight and absorb less heat, it said.

"The growth of "micro-mobility" is another positive step, illustrated by Hyderabad's introduction of smart bikes and electric cars. Smart city solutions, such as bike rentals, improved quality of life, help increase inclusion and aid in the transition to a low carbon environment."

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