BUSINESS NEWS | Saudi Non – Oil Private Sector Shrinks Again In June – PMI

RIYADH | SAUDI ARABIA – Saudi Arabia’s non – oil private sector shrank for the fourth straight month in June as measures to contain the spread of the new coronavirus continued to hit consumer demand, a survey on Sunday.

The seasonally adjusted HIS Markit Saudi Arabia Purchasing Managers’ Index (PMI) fell to 47.7 in June from 48.1 in May, remaining below to 50.0 mark that separates growth from contraction.

‘June data highlighted another difficult month for Saudi Arabia’s non-oil private sector economy, with cautious business and consumer spending patterns widely reported to have held back new order intakes’, said Tim More, economics director at survey compiler HIS Markit.

The June figure is a setback for the non-oil private sector, which Saudi Arabia’s de facto ruler Crown Prince Mohammed Bin Salman has put at the centre of reforms aimed at diversifying the kingdom’s oil-reliant economy.

Saudi Arabia, which had the region’s highest coronavirus figures at more than 197,608 infections and 1,752 deaths as of July 1, ended a three-month curfew on June 21, although some restrictions have remained in place.

Employment in the private sector in June fell at the fastest pace since the survey began in August 2009, as firms shed jobs to reduce cost and amid concerns over the business outlook.

‘June data signaled that year-ahead business expectations turned negative for the first time since this index began in July 2021’, the IHS Markit report said.

Saudi Arabia has extended several government initiatives to support the private sector during the coronavirus outbreak, state news agency SPA reported on Thursday, citing a decision by King Salman.

But a value-added tax hike in July is expected to push up inflammation, dampen consumer demand and slow economic recovery, economists have said.


Travel | Honduras To Reopen Domestic And International Flights In Mid-August

MILAN | ITALY – Honduras announced Tuesday it will reopen its airports to domestic and international flights in mid-August, after a nearly five-month closure due to the pandemic. The reopening of the airport is part of the government’s efforts to reactivate the economy, which is expected to contract between 7% and 8%, according to the … Continue reading Travel | Honduras To Reopen Domestic And International Flights In Mid-August

BREAKING NEWS | Trump Says Beirut Explosion Seems To Be ‘Bomb Of Some King’

MILAN | ITALY – President Donald Trump on Tuesday cast a massive explosion that killed dozens of people and wounded thousands in Lebanon’s capital, Beirut, as a possible attack and offered U.S. help. ‘The United States ready to assist Lebanon’, Trump said at a White House briefing. ‘We will be there to help. It looks … Continue reading BREAKING NEWS | Trump Says Beirut Explosion Seems To Be ‘Bomb Of Some King’

BREAKING NEWS | Trump Says U.S. Ready To Assist Lebanon After ‘Terrible Attack’

MILAN | ITALY – President Donald Trump on Tuesday said he sent his sympathies to Lebanon for the dozens of people killed and thousands wounded in a massive explosion in Beirut, which he cast as an attack, and offered U.S. help. ‘The United States stands ready to assist Lebanon’, Trump said at a White House … Continue reading BREAKING NEWS | Trump Says U.S. Ready To Assist Lebanon After ‘Terrible Attack’

BREAKING NEWS | U.K. PM Johnson Offers Support To Beirut After Massive Blast

LONDON – Prime Minister Boris Johnson said Britain stood ready to provide any support it could to help Beirut after a massive explosion in the city’s port area killed 25 people and injured more than 2,500. ‘The pictures and videos from Beirut  tonight are shocking’, Johnson wrote on Twitter. ‘All of my thoughts and prayer … Continue reading BREAKING NEWS | U.K. PM Johnson Offers Support To Beirut After Massive Blast

BREAKING NEWS | Massive Blast Rips Through Beirut, Killing 50 And Injuring Thousands

BEIRUT | LEBANON – A huge explosion in port warehouses near central Beirut Killed more than 50 people, injured over 2,750 and sent shockwaves that shattered windows, smashed masonry and shook the ground across the Lebanese capital. Officials expected the death toll to rise further after Tuesday’s blast as emergency workers dug through rubble to … Continue reading BREAKING NEWS | Massive Blast Rips Through Beirut, Killing 50 And Injuring Thousands

BREAKING NEWS | Saudi Arabia Following With Great Concern Consequences Of Beirut’s Explosion: SPA

RIYADH  | SAUDI ARABIA – Saudi Arabia’s foreign ministry said on Tuesday that is it following with great concern the consequences of Beirut’s port explosion, according to the state news agency. The statement also affirmed the kingdom’s full support and solidarity with the Lebanese people. The death toll from a massive explosion in Beirut  on … Continue reading BREAKING NEWS | Saudi Arabia Following With Great Concern Consequences Of Beirut’s Explosion: SPA

TRAVEL | Jordan Delays Resuming International Flight After COVID-19 Surge Abroad

AMMAN – Jordan on Tuesday postponed a resumption of international flight services that was planned for Wednesday almost five months after they were suspended due to the coronavirus outbreak, officials said. Civil Aviation Commission chief Haitham Mistro has announced last month that Queen Alia International Airport outside the capital Amman would reopen on Aug.5 for … Continue reading TRAVEL | Jordan Delays Resuming International Flight After COVID-19 Surge Abroad

SPORT | Red Card For Virus As Saudi Pro League Returns With Riyadh Derby

RIYADH | SAUDI ARABIA – The most popular rivalry in the Saudi Pro League (SPL) will take center stage as Al-Nassr host Al-Hilal on Wednesday, with safety precautions to allow the safe return of football in the Kingdom. The eagerness for football’s return will be highlighted when players arrive fully kitted at King Fahd Stadium, … Continue reading SPORT | Red Card For Virus As Saudi Pro League Returns With Riyadh Derby

ROYALS | Former King Juan Carlos To Leave Spain Amid Corruption Allegations

MADRID – Spain’s former king Juan Carlos has told his son, King Felipe, that he is leaving the country, the Royal House said on Monday, in a dramatic move designed to protect the monarchy after corruption allegations against him surfaced. In June, the Spanish Supreme Court opened an investigation into Juan Carlos’s involvement in a … Continue reading ROYALS | Former King Juan Carlos To Leave Spain Amid Corruption Allegations

Loading…

Something went wrong. Please refresh the page and/or try again.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s