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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The Saudi Ministry of Interior on Tuesday announced changes to curfew times during the holy month of Ramadan. For areas not under special measures, curfew hours will change and will not apply from 0900 to 1700 each day. Residents of neighborhoods that are subject to complete health isolation would still be prevented from leaving their…
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On the occasion of the Holy Month of Ramadan, we would like to extend our very best and warmest wishes to all our clients, partners and staff at this special time of year. Wishing you all the blessings of the holy month!
The Ministry of Interior has announced some changes to the current curfew restrictions that have been put in place as part of the Kingdom’s response to the Covid-19 virus. The main point is that the curfew hours will change and not apply from 0900 to 1700 each day during the month of Ramadan. However the…
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Saudi Arabia’s King Salman has approved an additional package of measures to help the private sector deal with the economic impact of the coronavirus outbreak, its finance minister said. The package includes 50 billion riyals ($266 million) to accelerate payment of private sector dues, provide liquidity to several sectors and cover wages of those working…
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The Saudi energy minister said on Sunday that effective oil supply cuts by OPEC and its allies, a group known as OPEC+, will amount to 12.5 million barrels per day, because of higher output in April from Saudi Arabia, the United Arab Emirates and Kuwait. In other news, Saudi Arabia’s sovereign wealth fund, the Public…
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