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
3.6 +0.1
Consumer Sentiments Index
Base September-December 2015
95.8 0.0
Consumer Expectations Index
Base September-December 2015
96.8 0.0
Current Economic Conditions Index
Base September-December 2015
94.1 0.0
Quarterly CapeEx Aggregates
(Rs.trillion) Sep 16 Dec 16 Mar 17 Jun 17
New projects 2.37 1.46 2.93 1.64
Completed projects 2.23 0.94 1.83 1.10
Stalled projects 0.65 1.01 0.35 2.45
Revived projects 0.91 0.17 0.62 0.29
Implementation stalled projects 0.37 0.81 0.33 0.64
Updated on: 19 Aug 2017 8:20PM
Quarterly Financials of Listed Companies
(% change) Sep 16 Dec 16 Mar 17 Jun 17
All listed Companies
 Income 2.1 6.2 10.3 10.1
 Expenses 1.9 6.4 11.9 10.1
 Net profit 14.6 40.3 17.6 -16.3
 PAT margin (%) 6.9 6.1 6.1 6.0
 Count of Cos. 4,495 4,497 4,400 2,770
Non-financial Companies
 Income 0.6 6.0 11.8 10.8
 Expenses -0.2 7.3 15.6 10.7
 Net profit 26.6 24.6 -1.4 -21.0
 PAT margin (%) 6.9 6.2 6.3 6.0
 Net fixed assets -9.2 7.6
 Current assets 8.1 2.2
 Current liabilities 11.6 8.6
 Borrowings 3.1 4.9
 Reserves & surplus 8.4 6.5
 Count of Cos. 3,481 3,487 3,421 2,031
Numbers are net of P&E
Updated on: 19 Aug 2017 8:30PM
Annual Financials of All Companies
(% change) FY13 FY14 FY15 FY16
All Companies
 Income 12.6 10.0 4.9 1.0
 Expenses 12.8 9.8 5.0 1.2
 Net profit 0.9 -2.3 1.3 -15.2
 PAT margin (%) 3.5 3.2 3.2 3.0
 Assets 14.3 12.3 9.3 8.8
 Net worth 9.6 9.6 8.8 7.6
 RONW (%) 6.8 6.2 6.1 5.3
 Count of Cos. 25,384 22,944 22,236 18,452
Non-financial Companies
 Income 11.9 9.7 4.1 0.0
 Expenses 12.2 9.3 4.2 -0.6
 Net profit -8.6 -2.6 -6.1 6.3
 PAT margin (%) 2.4 2.2 2.2 2.7
 Net fixed assets 12.9 11.6 13.0 13.9
 Net worth 7.8 8.6 7.4 6.9
 RONW (%) 5.5 5.1 4.9 5.6
 Debt / Equity (times) 1.1 1.1 1.1 1.0
 Interest cover (times) 2.1 2.0 1.9 2.0
 Net working capital cycle (days) 72 69 67 67
 Count of Cos. 19,804 18,286 17,814 15,125
Numbers are net of P&E
Updated on: 04 Aug 2017 3:37PM

Time-series available since 1992-93