Jobless Saudis demand higher Nitaqat quotas

December 6, 2013

Nitaqat_quotas_copyJeddah, Dec 6: Jobless young Saudis have called on the Ministry of Labor to increase Nitaqat quotas at private firms and fill positions left vacant by departing illegal workers to solve the country's unemployment problem.

This comes as Minister of Labor Adel Fakeih recently announced that 250,000 Saudis have found jobs because of the rectification process.

A survey conducted by Arab News showed that many Saudis want the quotas increased, with some seeing positive signs that companies are employing more citizens.

“I've observed a noticeable rise in the number of companies looking for Saudi workers since the Labor Ministry introduced the Nitaqat program and the rectification campaign currently being implemented in collaboration with the Ministry of Interior,” Abdullah Al-Qadi, a citizen, told Arab News.

“We expect the ministry to raise the Saudization quotas in industries such as construction and contracting where very few Saudis are working even though there are huge projects under way. The contracting companies can appoint Saudis in administrative posts,” Al-Qadi said.

Another Saudi, Yusuf Sadiq, urged private companies to cooperate with the ministry by not appointing more expatriates. “Such patriotic acts will be more profitable for employers and the country. It will reduce the unemployment rate considerably,” he said.

He urged the government to provide more training and rehabilitation programs for young Saudis.

Nasser Al-Saedi, a citizen, said large companies were not helping to reduce the unemployment rate despite the government offering them massive contracts with huge concessions and incentives.

He said a tax should be imposed on expatriates for using the country's subsidized petrol and commodities. “It is logical to impose a levy on the subsidized services enjoyed by expatriate workers,” he said.

Asim Al-Masari said that expatriates have had easy access to the country's top jobs, creating the incorrect perception that Saudis are not qualified to take up these positions. He also urged the government to provide more training for Saudis because this would benefit companies and the country.

According to the Nitaqat program, the agriculture sector should have 27 percent Saudi staff, and banks 90 percent Saudis, especially if the company employs more than 3,000 workers. Crude oil production and the gas sector should have a Saudization rate of 85 percent.

Downstream industries with more than 3,000 workers should appoint 35 percent Saudis, the telecommunications sector 75 percent, the petrochemical sector 80 percent, printing and publishing 65 percent, information technology 45 percent and schools for boys 40 percent.

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News Network
May 1,2020

Dubai, May 1: Saudi Arabia has reported 1,344 new coronavirus cases in the last 24 hours, bringing the total number of infections in the country to 24,097, the Ministry of Health announced on Friday.

The ministry also announced 7 more deaths and 392 new recoveries, raising the total number of fatalities and recoveries to 169 and 3,55 respectively.

Out of the 1,344 new cases reported today, 282 were confirmed in Riyadh, 237 in Madinah, 207 in Makkah, 171 in Jubail and 124 in Jeddah in addition to 114 infections in Dammam.

Authorities continue to urge people to stay at home unless necessary despite having relaxed some restrictions and curfews at the start of Ramadan.

Citizens and residents are allowed to go out for necessary needs between 9 a.m. and 5 p.m. but must adhere to precautionary measures such as wearing a face mask and maintaining social distancing practices.

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coastaldigest.com news network
August 3,2020

Sharjah, Aug 3: A 24-year-old Indian engineer has fallen to death from the sixth floor of a residential building on Eid al-Adha in the UAE's Sharjah, a media report said on Monday. 

The electrical engineer, identified with his single name Sumesh, hailed from the south Indian state of Kerala.

He lived in a building in Al Dhaid in Sharjah, from where he fell to death on Friday, the report said, adding that he was apparently talking over the phone and threw it down minutes before the incident.

Sumesh, who came to the UAE a year ago, worked as a designer in Sharjah's Muwaileh area. His roommates said that he had some "personal issues" that had been "bothering him for some time", according to the report.

"It was Eid al-Adha and our cook had made biryani for us. We were all cracking jokes and having a good time. In fact, even Cuckoo (Sumesh) was also laughing with us. He seemed happy. Nobody had anticipated this. I did sense a few times that something was troubling him and I even asked him about it, but he brushed it off," the report quoted his roommate Dileep Kumar as saying.

Shans KF, another roommate, said Sumesh was to travel to India for his annual leave but could not because of the COVID-19 pandemic.

The police have launched an investigation and moved the body to the forensic lab for an autopsy.

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Agencies
March 15,2020

Riyadh, Mar 15: Saudi Aramco on Sunday reported a 20.6 percent drop in its net profit for 2019 due to low oil prices and production levels, the company said in a statement.

These are the first annual results to be announced by the energy giant after its historical $29.4 billion initial public offering and listing on the Saudi Tadawul market last December.

Aramco posted net profits of $88.2 billion last year compared to $111.1 billion in 2018, Monday's statement said.

"The decrease was primarily due to lower crude oil prices and production volumes, coupled with declining refining and chemical margins," it said.

The company also made $1.6 billion of impairment provisions for losses associated with Sadara Chemical Company, an Aramco subsidiary.

"2019 was an exceptional year for Saudi Aramco. Through a variety of circumstances -- some planned and some not -- the world was offered unprecedented insight into Saudi Aramco's agility and resilience," CEO Amin Nasser said.

"Our unique scale, low costs, and resilience came together to deliver both growth and world-leading returns, while also maintaining our position as one of the world's most reliable energy companies," Nasser said.

The earnings for last year are not affected by the coronavirus outbreak or the ongoing price war between Saudi Arabia and Russia that has sent oil prices crashing.

Aramco said it will distribute dividends worth $73.2 billion for 2019 but based on its commitments under the IPO, its dividends for the next five years starting this year will be at least $75 billion.

It said its capital spending last year dropped to $32.8 billion from $35.1 billion in 2018.

The company expects capital spending, which is expenditure on projects, to be between $25 billion and $30 billion this year "in light of current market conditions and recent commodity price volatility."

But it said that capital expenditure for 2021 and beyond is currently under review.

The results were announced amid a price war between Saudi Arabia and Russia after they failed to agree on additional output cuts to support prices dented by the outbreak of the coronavirus pandemic.

"The recent COVID-19 outbreak and its rapid spread illustrate the importance of agility and adaptability in an ever-changing global landscape," Nasser said.

The kingdom said last week Aramco will pump 12.3 million barrels of oil per day, boosting output by at least 2.5 million bpd.

It also announced plans to raise production capacity from 12 million bpd to 13 million bpd.

Forecasts for future crude prices and demand are also bleak.

In its latest monthly report, the Organization of Petroleum Exporting Countries lowered its forecast for global average daily demand by 0.92 million barrels to 99.73 million barrels.

Saudi Arabia is also in the midst of a royal purge that saw King Salman's brother and nephew detained after sources said they were accused of plotting a palace coup to unseat the crown prince, heir to the Saudi throne.

Aramco shares rallied immediately after the listing on December 11, rising by 19 percent to 38 riyals ($10.1) and temporarily lifting the company's valuation above the $2 trillion mark, which was sought by Crown Prince Mohammed bin Salman, Saudi Arabia's de facto ruler.

But as oil prices tumble, Aramco shares have lost 29 percent from its highest point, slipping below the listing price.

On Thursday, Aramco's market value dropped to around $1.55 trillion, but it still remains the world's largest publicly listed company.

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