Saudi Arabia has declared a 24-hour curfew across all cities and regions in the Kingdom for the Eid holidays, from Saturday 23rd May until Wednesday 27th May – a total of 5 days. Due to the current lockdown restrictions, this means that the 24-hour curfew will begin at 1700 on Friday 22nd May. If you…
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As we prepare to celebrate the Eid Al Fitr holiday, AEI would like to take this time to inform our clients and partners of our working hours over the holiday period. AEI’s offices across the Kingdom will close from 1700 on Wednesday 20th May with staff returning to work at 0900 on Sunday 31st May…
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Saudi Aramco, the world’s top oil exporting company, on Tuesday reported a 25% fall in first-quarter net profit, missing analyst estimates, but its quarterly dividend was in line with a plan for a $75 billion payout for the year. In other news, Saudi Arabia will voluntarily deepen oil output cuts from June as low oil…
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Saudi Arabia is suspending the cost of living allowance from 1st June and increasing the value-added tax (VAT) from 5% to 15% as part of measures to address the impact of the COVID-19 crisis, the Saudi Press Agency (SPA) reported on Monday. In other news, the Saudi Arabian Monetary Authority (SAMA) has affirmed its commitment…
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The Saudi Ministry of Labour and Social Development has issued guidance on relations between workers and private business owners during the coronavirus pandemic. It allows private businesses to reduce working hours and cut employees’ wages during the next six months. In other news, Investment requests in Jubail and Yanbu have exceeded $13.3 billion in the…
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