Riyadh Emir: Campaign not targeting any specific section

November 13, 2013

Prince_Khaled_Bin_BandarRiyadh, Nov 13: Riyadh Emir Prince Khaled Bin Bandar said on Tuesday that the ongoing security campaign is not targeting any specific section of expatriates but is directed against all violators of the labor and residency laws.

“We will vigorously continue the campaign up to the point of ensuring that all the foreigners in the Kingdom are legal residents,” he said during a reception at Al-Hakam Palace.

The reception, hosted by the Emir and Deputy Emir Prince Turki Bin Abdullah, was attended by Deputy Minister of Labor Muferrej Al-Haqbani, Public Security Assistant Director Maj. Gen. Jamaan Al-Ghamdi, several other officials, scholars and a number of citizens, the Saudi Press Agency (SPA) reported.

Prince Khaled drew attention of the audience to the incorrect reports being circulated by the foreign media about the situation of foreigners in the Kingdom.

He said that strict directives have been given to inspectors to behave decently with all those who failed to benefit from the amnesty period announced by Custodian of the Two Holy Mosques King Abdullah.

Talking about the incident in Riyadh’s Manfuhah area on Saturday, the Emir said that even though some illegal residents were involved in creating troubles in a limited area of Riyadh which claimed the lives of one Saudi and two illegals, the situation was swiftly brought under control.

“In consequence, a large number of violators turned themselves in and the authorities have extended all the facilities for their deportation in cooperation with their embassies,” he said.

The Emir noted that Saudi Arabia is not the only country which is regulating its labor market. All other countries are doing the same. The government, however, is keen to create job opportunities for Saudis. Prince Khaled also warned against exploiting the situation to hike prices of essential goods.

Speaking on the occasion, Al-Haqbani said the grace period was definitive evidence of the Kingdom’s determination not to have a roll back on the measures to correct the labor market.

The Kingdom announced this year that migrants can only work for their sponsors, even those of them who have residency permits.

On Monday, the authorities began rounding up thousands of illegals following the expiry of a final amnesty for them to formalize their status. Among them are foreigners who overstayed their visas, pilgrims who have sought jobs, and migrants under one sponsor trying to get jobs elsewhere. Having an official sponsor is a legal requirement in Saudi Arabia and most other Gulf states.

Buses have been transporting illegal immigrants to assembly centers near the capital Riyadh where authorities are finalizing procedures to deport them.

These centers have received some 17,000 foreign workers during the past few days.

Nearly a million migrants – Bangladeshis, Filipinos, Indians, Nepalis, Pakistanis and Yemenis among them – took advantage of the amnesty to leave. Another roughly four million were able to find employers to sponsor them. Expatriates account for a full nine million of the Kingdom’s population of 27 million.

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News Network
April 22,2020

Dubai, Apr 22: Saudi Arabia's Health Ministry registered 1141 new Coronavirus cases, 172 new Recoveries and 5 new deaths in the last 24 hours by 22nd April 2020 (3:40 PM), Most of  the Corona infected patients are in stable condition, while 82 cases are on critical condition and are being treated in various hospital's Intensive Care Unit, All the confirmed and suspected cases are isolated and are being treated in the country, the Total Covid-19 cases as of Today are as follows
 
Infections : 12772
Recovered : 1812
Deaths : 114
Active Cases : 10846
Critical : 82

-  The Spokesperson of Ministry of Health said Total laborartory tests exceeded 200,000. 

-  You should continue to socialize and stay at home, especially for those aged 65 and over or who suffer from chronic diseases.

-  Half a million field assessments under active survey, 50 government agencies involved in anti-virus efforts, 150 field teams participating in the active examination in the Kingdom.

- The Health Ministry said, Maintaining hand-washing and keeping away from gatherings is an important step, and we should all be responsible.

- Worldwide Covid-19 infection details as of Today (22nd April) are

Infections : 2,580,729
Recovered : 693,093
Deaths : 178,371

- Among the 1141 new infections, most of the cases are on active survey results, 868 cases from new infections are discovered from active survey field testing. The city wise total active cases excluding recoveries and deaths by 22nd April are

Makkah : 2472
Madina : 1944
Riyadh : 1762
Jeddah : 1679
Dammam : 678
Hofuf : 507
Taif : 131
Tabuk : 128
Jubail : 97
Qatif : 73
Buraidah : 46
Khamis Musaith : 44
Khobar : 38
Dhahran : 36
Yanbu : 36
Khalis : 24
Ar Ar : 16
Khafji : 15
Ras Tanura : 12
Zulfi : 11
Onaiza : 9
Al Maqwat : 9
Al Dariya : 8
Al Kharj : 8
Samita : 8
Bisha : 7
Najran : 7
Al Khanfadah : 7
Hail : 6
Al Baha : 6
Sabit Alaya : 5
Muhayil Asir : 5
Ahad Rafidah : 4
Muwiya : 4
Ar Ras : 4
Al Qurayyat : 3
Al Muzilaf : 3
Sharura : 3
Al Jafar : 2
Al Lais : 2
Al Hanakiya : 2
AlMabraz : 2
Al Qawiya : 2
Al Tawal : 2
Al Misan : 2
Al Qariya : 2
Hada : 2
Rabig : 2
Sabia : 2
Saihat : 2
Azam : 1
Al Aiz : 1
Al Bakariya : 1
Al Dawadmi : 1
Al Majmaah : 1
Al Mada : 1
Al Shamli : 1
Al Ala : 1
Al Wajha : 1
Al Arida : 1
Beesh : 1
Diba : 1
Sakaka : 1
Sariban : 1
Sharura : 1
Riyad Al Khabra : 1

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News Network
May 11,2020

May 11: Saudi Arabia will triple its value-added tax rate and suspend a cost of living allowance for state workers, it said on Monday, seeking to shield finances hit by low oil prices and a slump in demand for its lifeline export worsened by the new coronavirus.

Historic oil output cuts agreed by Riyadh and other major producers have given only limited support to prices after they sank on oversupply caused by a war for petroleum market share between the kingdom and its fellow oil titan Russia.

Saudi Arabia, the world's largest oil exporter, is also being hit hard by measures to fight the new coronavirus, which are likely to curb the pace and scale of economic reforms launched by Crown Prince Mohammed bin Salman.

"The cost of living allowance will be suspended as of June 1, and the value added tax will be increased to 15% from 5% as of July 1," Finance Minister Mohammed al-Jadaan said in a statement reported by the state news agency. "These measures are painful but necessary to maintain financial and economic stability over the medium to long term...and to overcome the unprecedented coronavirus crisis with the least damage possible."

The austerity measures come after the kingdom posted a $9 billion budget deficit in the first quarter.

The minister said non-oil revenues were affected by the suspension and decline in economic activity, while spending had risen due to unplanned strains on the healthcare sector and the initiatives taken to support the economy.

"All these challenges have cut state revenues, pressured public finances to a level that is hard to deal with going forward without affecting the overall economy in the medium to long term, which requires more spending cuts and measures to support non-oil revenues stability," he added.

The government has cancelled and put on hold some operating and capital expenditures for some government agencies, and cut allocations for some reform initiatives and projects worth a total 100 billion riyals ($26.6 billion), the statement said.

Central bank foreign reserves fell in March at their fastest rate in at least 20 years and to their lowest since 2011, while oil revenues in the first three months of the year fell 24% from a year earlier to $34 billion, pulling total revenues down 22%.

"The reforms are positive from a fiscal side as greater adjustment is essential. However, the tripling of VAT is unlikely to help that much in 2020 revenue wise with the expected fall in consumption," said Monica Malik, chief economist at Abu Dhabi Commercial Bank.

She said she kept unchanged her deficit forecast of 16.3% of GDP for this year, which already factors in a greater than previously announced spending cut.

About 1.5 million Saudis are employed in the government sector, according to official figures released in December.

In 2018, Saudi Arabia's King Salman ordered a monthly payment of 1,000 riyals ($267) to every state employee to compensate them for the rising living costs after the government hiked domestic gas prices and introduced value-added tax.

DIFFICULT TIMES

A committee has been formed to study all financial benefits paid to public sector employees and contractors, and will submit recommendations within 30 days, the statement said.

In late 2015, when oil prices fell from record highs, the kingdom slashed lavish bonuses, overtime payments and other benefits once considered routine perks in the public sector.

In a country without elections and with political legitimacy resting partly on distribution of oil revenue, the ability of citizens to adapt to such reforms is crucial for stability.

"Tripling the VAT will test the limits of the balance between revenues and consumption as the economy dives into a deep recession. The move will impact consumption and could also lower the expected revenues," said John Sfakianakis, a Gulf expert at the University of Cambridge.

"These are pro-austerity and pro-revenue moves rather than pro-growth ones," he said.

Hasnain Malik, head of equity strategy at Tellimer, said the VAT rise could bring about $24-$26.5 billion in additional non-oil fiscal revenue. The rise would hit consumer spending further but was a needed step towards fiscal sustainability, he said.

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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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