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
3.8 +0.1
Consumer Sentiments Index
Base September-December 2015
99.3 -0.2
Consumer Expectations Index
Base September-December 2015
101.7 +0.3
Current Economic Conditions Index
Base September-December 2015
95.5 -0.9
Quarterly CapeEx Aggregates
(Rs.trillion) Jun 16 Sep 16 Dec 16 Mar 17
New projects 1.45 2.35 1.42 2.82
Completed projects 0.90 2.19 0.88 1.41
Stalled projects 1.40 0.64 1.01 0.32
Revived projects 0.43 0.51 0.17 0.62
Implementation stalled projects 0.50 0.57 0.80 0.26
Updated on: 30 Apr 2017 12:20PM
Quarterly Financials of Listed Companies
(% change) Jun 16 Sep 16 Dec 16 Mar 17
All listed Companies
 Income -0.9 2.1 6.3 12.5
 Expenses -0.3 1.9 6.6 16.1
 Net profit -4.1 14.7 36.5 5.4
 PAT margin (%) 6.9 6.9 6.0 13.8
 Count of Cos. 4,489 4,473 4,435 185
Non-financial Companies
 Income -2.5 0.6 6.1 13.2
 Expenses -2.9 -0.2 7.6 18.1
 Net profit 9.6 26.8 20.7 5.1
 PAT margin (%) 7.4 6.9 6.1 13.7
 Net fixed assets -9.2 1.7
 Current assets 8.1 4.1
 Current liabilities 11.6 12.1
 Borrowings 3.1 10.6
 Reserves & surplus 8.4 18.5
 Count of Cos. 3,498 3,482 3,460 127
Numbers are net of P&E
Updated on: 30 Apr 2017 12:29PM
Annual Financials of All Companies
(% change) FY13 FY14 FY15 FY16
All Companies
 Income 12.0 9.6 4.9 0.8
 Expenses 12.2 9.5 4.9 1.0
 Net profit 1.2 -3.7 2.2 -13.7
 PAT margin (%) 3.6 3.2 3.2 3.1
 Assets 14.1 12.3 9.1 8.2
 Net worth 9.5 9.6 8.5 7.2
 RONW (%) 6.8 6.0 6.0 5.4
 Count of Cos. 23,921 21,271 20,226 16,111
Non-financial Companies
 Income 11.3 9.3 4.0 -0.3
 Expenses 11.6 8.9 4.1 -1.0
 Net profit -8.5 -5.0 -4.1 11.3
 PAT margin (%) 2.4 2.1 2.1 2.8
 Net fixed assets 12.8 11.5 12.9 12.4
 Net worth 7.7 8.5 7.0 6.5
 RONW (%) 5.5 4.8 4.8 5.7
 Debt / Equity (times) 1.1 1.1 1.1 1.0
 Interest cover (times) 2.1 1.9 1.9 2.1
 Net working capital cycle (days) 72 69 68 68
 Count of Cos. 18,454 16,748 15,978 13,008
Numbers are net of P&E
Updated on: 21 Apr 2017 9:39AM

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