Gold import revision reduces trade deficit by $5 billion
business9 hours ago
Saudi Arabia's labour minister issued an order on Thursday to restrict employment in shopping malls to Saudi nationals, who currently make up only one in five staff in the retail sector.
The kingdom has been steadily closing off different areas of employment to foreigners, who comprise about a third of the population, as it aims to create jobs for young Saudis and cut the unemployment rate among nationals.
A statement from the minister for labour and social development, posted on Twitter, defined malls as "closed commercial centres", but did not elaborate on the number of jobs affected or a timeline for implementation.
According to the Vision 2030 economic reform plan released last year, the Saudi retail sector currently employs 1.5 million workers, of whom only 300,000 are Saudis. The plan calls for a million new jobs for Saudis in the sector by 2020.
Gold import revision reduces trade deficit by $5 billion
business9 hours ago
Total sales amounted to Dh16.6 billion last year
realty9 hours ago
Dubai Marina, Downtown Dubai and Palm Jumeirah have solidified their position as top areas for buying luxury apartments
realty9 hours ago
Year-end price target for gold has been adjusted to $2,910 per ouncec
business9 hours ago
Lender prioritises expansion in digital banking sector
finance9 hours ago
Acquisition reinforces Adnoc L&S’ position in energy maritime logistics
business9 hours ago
Deerma introduces new home appliances at OrroHome Dubai
business9 hours ago
Salomon launches first UAE store in Dubai Mall
business9 hours ago