More jobs, housing for citizens in 5-year plan

September 16, 2014

Jeddah, Sep 16: The Council of Ministers has prioritized housing, jobs and an increased standard of living for citizens in its 10th Five-Year Development Plan from 2015 to 2020.

Prince SalmanThe 24-point plan approved at its meeting on Monday, includes efforts to preserve Islamic values and teachings, promote national unity and consolidate the Kingdom’s identity, said Culture and Information Minister Abdul Aziz Khoja after the Cabinet meeting.

The plan aims to strengthen the Kingdom’s economy and promote its growth, stability and competitiveness. “It also aims to enhance institutional reforms, support civil institutions and raise the efficiency and productivity of state agencies and their employees,” Khoja said.

The new five-year plan will uphold the principles of accountability and transparency and strive for the protection of integrity and fight corruption, the minister added.

The Cabinet, which was chaired by Crown Prince Salman, deputy premier and minister of defense, also adopted several measures to crack down on errant Umrah operators.

The Cabinet approved amendments to laws regulating Umrah trips from outside the Kingdom. The Interior Ministry would use Article 60 of the country's residency law to punish Umrah companies involved in trading visas, and bringing people to the country for other purposes.

“The Ministries of Interior and Haj shall prevent Umrah companies from accessing their automated system if they fail to ensure the return of their pilgrims from the Kingdom to their respective countries,” Khoja said while explaining the new regulations.

The Cabinet authorized the minister of housing to discuss with his Egyptian counterpart a housing cooperation agreement. It banned non-Saudis from time-sharing activities or marketing the scheme in Makkah and Madinah. “Non-Saudis are also banned from the acquisition of any rights under time-sharing for tourist real estate units in Makkah and Madinah except through inheritance,” Khoja said.

The Cabinet congratulated Custodian of the Two Holy Mosques King Abdullah for being awarded an honorary doctorate degree from Imam Muhammad bin Saud Islamic University. The Cabinet was briefed on the telephone conversation between King Abdullah and US President Barack Obama.

Referring to last week›s Jeddah meeting to fight Islamic State militants, the Cabinet reiterated the Kingdom’s commitment to stand against the threats posed by terrorism in all its forms.

Khoja said the Cabinet welcomed the formation of the new Iraqi government and the confidence in it by the Iraqi parliament. It hoped that this would contribute to the return of security and stability in Iraq and the consolidation of national unity and cohesion among its people.

On the occasion of the 27th session of the Human Rights Council in Geneva, Saudi Arabia renewed its call on the international community to protect the rights of the Palestinian people for self-determination and an independent state with Jerusalem as its capital.

The Kingdom expressed deep regret at the world not taking a decisive and courageous stand to end the suffering of the Syrian people. The Kingdom also renounced terrorism and extremism and rejected and condemned the gross violations of human rights perpetrated by terrorist organizations.

In this context, the Cabinet thanked the Office of the United Nations High Commissioner for Refugees for praising the Kingdom’s humanitarian assistance to refugees in various countries.

The Cabinet praised security and customs officers for their efforts in preventing attempts to smuggle drugs worth SR2 billion into the Kingdom and arresting 1,197 smugglers and drug traffickers over the past six months.

The Cabinet welcomed the Human Development Report 2014 issued by the United Nations Development Program, which raised the Kingdom’s rank from 57 to 34 in human development programs.

The Cabinet postponed the transfer of jurisdiction of the investigation and prosecution on customs issues from the Customs Department to the Bureau of Investigation and Prosecution for a period of four years, Khoja said.

The Cabinet appointed Tariq bin Ziyad Al-Sudairi a member of the board of directors of the Saudi Stock Exchange (Tadawul) representing the licensed brokerage companies; Sami bin Abdullah Al-Saleh as ambassador at the Foreign Ministry; Prince Saud bin Fahd bin Abdullah, deputy governor for security affairs in Riyadh; Saad bin Abdullah Al-Mufreh financial advisor at the Ministry of Health; Abdullah bin Sulaiman Al-Maiman director general of financial affairs at the Ministry of Defense; Hashim bin Abdullah Shatta minister plenipotentiary at the Ministry of Foreign Affairs; Abdulaziz bin Saleh Al-Muhanna administrative advisor at the Ministry of National Guard; Ibrahim bin Abdulkarim Al-Khatib adviser at Riyadh governorate; and Yusuf bin Abdullah Al-Saadi sector head at the Finance Ministry.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
May 28,2020

Sharjah, May 28: The Ministry of Interior has warned the public against visiting wadis during bad weather conditions, including rainy seasons, to avoid the risk of getting caught in flash floods that could endanger their lives.

A video posted on its official Instagram account depicted several such incidents involving cars being swept away by floods.

The warning comes after four people were found dead this week in Sharjah's Wadi Al Helo, an area hit by floods during heavy rains that lashed the emirate, authorities said.

The National Search and Rescue Centre (NSRC) found the bodies as it conducted an operation to look for seven people who were reported missing amid the unstable weather conditions.

In a separate incident yesterday, 20 passengers of a bus that got stuck in Wadi Hatta's Umm Al Nosor area in Dubai were also rescued by police after their vehicle was swept away by floods.

The ministry urged the public to follow the directives issued for their own safety.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 20,2020

Riyadh, Apr 20: Six more people have died in Saudi Arabia after contracting coronavirus as 1,122 new coronavirus cases were reported on Monday.

The Saudi health ministry said that total number of cases in the Kingdom had increased to 10,484. It also recorded 92 new recoveries, raising the total to 1,490.

The ministry said precautionary measures shall remain to limit the virus spread.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
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.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.