Saudi Arabia restricts foreigners from working in shopping malls

3 million Indians resided in Saudi Arabia till 2015

by Natasha Nadkar

Saudi Arabia has joined other countries in formulating strict norms for foreign workers. The country has issued an order to restrict foreigners from working in its shopping malls. This decision is expected to generate around 35,000 jobs in the Saudi retail sector. The country aims to create one million new jobs for Saudis in the retail sector by 2020. Additionally, Saudi Arabia plans to end the economy’s dependence on oil and reliance on foreign labour. Presently, out of the 1.5 million workers employed in the retail sector, only 0.3 million are Saudis. Foreigners comprise about a third of the country’s population. The number of Indian workers and professionals residing in Saudi Arabia reached about three million in 2015.

References
1. http://economictimes.indiatimes.com/news/international/business/saudi-arabia-bars-foreigners-from-mall-jobs-to-help-citizens/articleshow/58290549.cms
2. http://fortune.com/2017/04/20/saudi-arabia-malls/
CMIE STATISTICS
Unemployment Rate
Per cent
6.2 -0.0
Consumer Sentiments Index
Base September-December 2015
93.5 0.0
Consumer Expectations Index
Base September-December 2015
93.9 0.0
Current Economic Conditions Index
Base September-December 2015
92.8 0.0
Quarterly CapeEx Aggregates
(Rs.trillion) Jun 17 Sep 17 Dec 17 Mar 18
New projects 2.33 1.38 1.24 2.15
Completed projects 0.87 1.21 1.02 1.07
Stalled projects 2.67 0.69 0.93 3.34
Revived projects 0.30 0.34 0.23 0.14
Implementation stalled projects 0.73 0.72 0.58 1.05
Updated on: 25 Apr 2018 12:20PM
Quarterly Financials of Listed Companies
(% change) Jun 17 Sep 17 Dec 17 Mar 18
All listed Companies
 Income 9.6 7.9 11.9 7.6
 Expenses 9.9 9.0 12.9 8.0
 Net profit -19.9 -18.1 -13.9 6.6
 PAT margin (%) 5.3 5.5 4.9 15.2
 Count of Cos. 4,482 4,469 4,431 78
Non-financial Companies
 Income 10.2 8.2 13.2 3.0
 Expenses 10.5 8.2 12.3 4.0
 Net profit -25.1 -6.0 12.7 -1.8
 PAT margin (%) 5.2 6.2 6.4 14.0
 Net fixed assets 9.2 5.3
 Current assets 78.7 9.6
 Current liabilities 11.0 24.5
 Borrowings 10.4 -2.5
 Reserves & surplus 5.2 0.3
 Count of Cos. 3,459 3,442 3,427 55
Numbers are net of P&E
Updated on: 25 Apr 2018 12:20PM
Annual Financials of All Companies
(% change) FY15 FY16 FY17 FY18
All Companies
 Income 5.5 1.5 5.1 1.6
 Expenses 5.6 1.7 5.1 0.7
 Net profit 0.0 -10.3 23.7 9.2
 PAT margin (%) 3.1 2.8 3.6 8.3
 Assets 9.5 10.0 6.9 3.3
 Net worth 8.5 11.4 6.0 2.8
 RONW (%) 5.8 4.9 5.9 12.7
 Count of Cos. 25,647 23,668 20,755 19
Non-financial Companies
 Income 4.7 0.6 4.7 1.5
 Expenses 4.9 0.0 5.2 0.6
 Net profit -8.6 18.4 18.0 10.7
 PAT margin (%) 2.0 2.5 3.1 7.4
 Net fixed assets 13.3 17.3 5.4 4.4
 Net worth 6.9 12.0 4.4 2.9
 RONW (%) 4.6 5.1 6.0 11.5
 Debt / Equity (times) 1.1 1.1 1.0 0.2
 Interest cover (times) 1.9 1.9 2.1 11.8
 Net working capital cycle (days) 66 65 62 38
 Count of Cos. 20,897 19,807 17,287 17
Numbers are net of P&E
Updated on: 18 Apr 2018 11:50AM

Time series available from 1990 onwards