Third of Saudi companies expect to grow by 10%

Arab News
September 10, 2018

Riyadh, Sept 10: A third of middle-market Saudi businesses expect to grow by at least 10 percent this year and more than half will hire extra full-time staff, a new survey suggests.

Saudi companies are significantly more optimistic about revenue growth than they were last year, according to the EY Growth Barometer, an annual survey of entrepreneurs’ and business leaders’ growth strategies produced by the global professional services company Ernst & Young.

“Company leaders ... in Saudi Arabia are riding a wave of ambition and confidence, as set out by Vision 2030 and the National Transformation Program,” said Fahad Altoaimi, EY’s Saudi Arabia managing partner.

“Contrary to the common belief that regulation stifles innovation, Saudi executives believe that reforms set out by Crown Prince Mohammed bin Salman have been driving change and growth.

“This is very encouraging for Saudi businesses — one of the key goals of Vision 2030 was to increase participation from middle-market businesses in the economy.”

Attitudes to new technology have also evolved rapidly. In 2017, 94 percent of Saudi respondents to the EY survey said they would never adopt robotic process automation. Now, 82 percent say they will have adopted AI by 2020 and implemented robotic process automation, with 95 percent of respondents planning to do so within five years.

According to the EY survey, Saudi business leaders also see the need to expand beyond the Kingdom if they are to become market leaders. Overseas expansion is the leading growth priority for 29 percent of respondents, while 18 percent of middle-market businesses are aiming to grow at home.

Saudi business leaders are also on a hiring spree, with 58 percent looking to recruit more full-time staff. The greatest talent need, however, is more diversity, cited by 62 percent of Saudi Arabian respondents.

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News Network
April 12,2020

Apr 12: Parents in Abu Dhabi affected by the Covid-19 situation can seek help from the authorities in paying off their children's school fees, it was announced on Sunday.

The Abu Dhabi Media Office took to Twitter to announce the reprieve. The Authority for Social Contribution - Ma'an and Abu Dhabi Department of Education and Knowledge (Adek) "will support parents with children attending private schools in #AbuDhabi who are affected by the current economic challenges, by paying school fees or providing devices for distance learning".

The move is part of the 'Together We Are Good' programme which aims to support residents impacted by the Covid-19 coronavirus crisis in the country.

"Parents can call the toll-free helpline on 800-3088 or register their request at http://togetherwearegood.ae. The closing date for fee assistance applications is 23rd April 2020," the media office tweeted.

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News Network
April 20,2020

Apr 20: Eight Indians, including two engineers, have died due to the novel coronavirus in Saudi Arabia, according to a media report on Sunday.

Mohammed Aslam Khan, an electrical engineer in Makkah, and Azmatullah Khan, an engineer at the Makkah Haram power station, have died due to the COVID-19, Saudi Gazette reported.

Aslam Khan, aged 51, who hailed from Meerut in Uttar Pradesh, was admitted to King Faisal Hospital, Makkah on April 3, following worsening of his condition after being infected with fever and throat pain.

He had been on ventilator for more than two weeks and breathed his last on Saturday night, the paper said.

Khan is survived by wife and a daughter and a son. His wife and children are under self-imposed home quarantine.

Azmatullah Khan, from Telangana, died of coronavirus on Friday.

Mujeeb Pukkottoor, a prominent Indian social worker and general secretary of Makkah chapter of Kerala Muslim Cultural Center, told the paper that the body of Khan was buried in Makkah on Sunday.

Khan, aged 65, had been working with Saudi Binladin Group for the last 32 years.

Fakre Alam, an employee at the Haram Project of Saudi Binladin Group in Makkah, died on Sunday due to infection, the paper said.

Barkt Ali Abdullatif Fakir, an electrical technician working in Medina, also died of coronavirus, it said.

According to the Saudi Ministry of Health’s daily report published on April 14, the number of coronavirus infected cases among workers of Saudi Binladin Group in various parts of the Kingdom stood at 117, and these included 70 cases in Makkah.

The first two Indian fatalities were reported from Medina and Riyadh earlier this month with the death of Shebnaz Pala Kandiyil (29) and Safvan Nadamal (41), both from Kerala.

Mohammed Sadiq, from Hyderabad, working in Jeddah and Suleman Sayyid Junaid (Maharashtra) are other Indians who died due to COVID-19 in the Gulf kingdom, the paper said.

Shebnaz from Panoor in Kannoor district died on April 3 and his body was buried in Medina on April 7. He came back to the Kingdom March 3 after his marriage in January.

Safvan, a taxi driver from Chemmad in Malappuram district, died on April 2 and was buried in Riyadh on April 8.

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Agencies
May 26,2020

Riyadh, May 26: The authorities in Saudi Arabia have decided to ease some restrictions put in place over coronavirus fears, allowing movement and resumption of some economic and commercial activities, Saudi Press Agency reported early Tuesday citing an official source at the Interior Ministry.

The move also allows restarting of domestic flights, opening of mosques, restaurants and cafes and work attendance, however, the temporary suspension of Umrah pilgrimage remains in force.

The easing of restrictions will be carried out in a phased manner, with the first phase beginning on Thursday (May 28) and ending on May 30.

In the first phase, the movement within and between all regions of the Kingdom in private cars will be allowed from 6 a.m. to 3 p.m. except in Makkah. Economic and commercial activities will resume in retail and wholesale shops and malls but beauty salons, barber shops, sports clubs, health clubs, entertainment centers and cinemas will continue to remain shut due to social distancing concerns.

In the second phase, which begins on May 31 and ends on June 20, the movement is allowed from 6 a.m. and 8 p.m. in all areas of the Kingdom, except in Makkah. All congregational prayers, including Friday prayers, will resume in all mosques across the Kingdom except in Makkah.

The suspension of workplace attendance will end, allowing all employees in ministries, government entities and private sector companies to return to working from their offices provided that they follow strict precautionary guidelines.

The suspension on travel between regions in the Kingdom using various transport methods will no longer be in place. Airlines will be allowed to operate domestic flights if they adhere to precautionary measures set by the civil aviation authority and the Ministry of Health. The suspension of international flights, will, however, continue until further notice.

Restaurants and cafes serving food and beverages can reopen, however, beauty salons, barber shops, sports clubs, health clubs, entertainment centers and cinemas will be barred from reopening in the second phase. The ban on social gatherings of more than fifty people, such as weddings and funerals will also continue to remain in force.

In the third phase commencing on June 21, the Kingdom will return to "normal" conditions as it was before the coronavirus lockdown measures were implemented.

Meanwhile in Makkah, the first phase measures will be implemented between May 31 to June 20 and the second phase will begin on May 21. Friday prayers and all congregational prayers will continue to be held in the Grand Mosque, only to be attended by Imams and the employees.

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Mohammed Sarfraz
 - 
Tuesday, 26 May 2020

I think second phase is May 31 to June 20. Must be a typo. 

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