RIYADH | SAUDI ARABIA – An international survey revealed that the non – oil private sector in Saudi Arabia returned to growth last September for the first time in seventh months, amid an increase in demand after easing the general lockdown measures.
‘Business activity in the Saudi Arabia non-oil private sector ticked up in September, supported by a return to sales growth as the economy started to find its footing after the COVID-19 lockdown’, said David Owen, economist at HIS Markit.
The HIS Markit Saudi Arabia Purchasing Managers’ Index (PMI) rose to 50.7 from 48.8 in August, surpassing the 50 mark that separates growth from contraction for the first time since February, prior to the outbreak of the COVID-19 pandemic.
‘In addition, the impact of a rise in VAT notably softened, after a sharp rise in prices and a dip in sales were seen in August. Cost inflation eased to just a marginal pace’, Owen added.
Saudi Arabia, the world’s largest oil exporter, tripled the value-added tax last July from 5 percent to 15 percent in an effort to support state treasury affected by the decline in oil prices and cuts in crude production, which was reflected in business condition.
Saudi Arabia last week announced that the economy had contracted by 7 percent.
The Saudi economy still has ‘some way to go to fully recover’, Owen underlined, adding: ‘Output growth remains well below normal, and jobs are still falling, albeit at a slower rate. Firms will require consistent rises in sales to support a strong end to the year’.
Macron, Merkel Vow To Cooperate Closely Until New German Government Is Formed
Paris / France – – German Chancellor Angela Merkel and French President Emmanuel Macron pledged on Thursday to keep working closely together until a new German government is formed after the Sept. 26 polls in which Merkel is not a candidate. In 16 years in power, Merkel has known four French presidents and has built … More Macron, Merkel Vow To Cooperate Closely Until New German Government Is Formed
Saudi – Led Coalition Thwarts Houthi Missile And Drones Attack – Media
Dubai / UAE – – The Saudi – led coalition said late on Thursday that it thwarted and destroyed four Houthi explosives – laden drones and a ballistic rocket fired in the direction of the southern Saudi city of Jazan, Saudi state media reported. The Saudi – led military coalition intervened in Yemen in 2015, … More Saudi – Led Coalition Thwarts Houthi Missile And Drones Attack – Media
Macron Says French French Forces Killed Islamic State Leader In Sahara
Paris / France — French President Emmanuel Macron said on Wednesday that French military forces had killed Islamic Adnan Abu Walid al – Sahrawi, the leader of Islamic State in the Greater Sahara. ‘It’s another major success in our fight against terrorist groups in the Sahel’, Macron said in a tweet, without disclosing the location of … More Macron Says French French Forces Killed Islamic State Leader In Sahara
Putin To Remain In COVID – 19 Isolation For Days As Dozens In Entourage Ill
Moscow / Russia – Russian President Vladimir Putin said on Thursday he would have to spend ‘a few days’ in self – isolation after dozens of people in his entourage fell ill with COVID – 19, the TASS news agency reported. Putin was speaking through a video link at a summit of Russia – led … More Putin To Remain In COVID – 19 Isolation For Days As Dozens In Entourage Ill
Saudi Crown Prince Launches ‘Human Capability Development’ Program
Riyadh / Saudi Arabia – – Saudi Arabia’s Crown Prince Mohammed bin Salman launched a new program on Wednesday as part of Saudi Vision 2030 plans and a national strategy to ‘strengthen citizen’s capabilities locally and globally’. ‘The Human Capability Development Program represents a national strategy to enhance the competitiveness of national human capabilities locally … More Saudi Crown Prince Launches ‘Human Capability Development’ Program
Vladimir Putin Is To Self – Isolate After COVID – 19 Detected In Entourage – Kremlin
Moscow / Russia – – Russian President Vladimir Putin will go into self isolation after cases of the new coronavirus were detected in his entourage and will therefore not travel to Tajikistan this week for regional security meeting, the Kremlin said on Tuesday.
Saudi Arabia’s King Salman Sends Message To Algeria’s President Via Foreign Minister
Riyadh / Saudi Arabia – Saudi Arabia’s King Salman has sent a message to Algeria’s President Abdelmadjid Tebboune via the kingdom’s foreign minister regarding the ‘historical brotherly relations’ and joint cooperation between the two countries, according to state – run Saudi Press Agency. The message was conveyed by Saudi Arabia’s Foreign Minister Prince Faisal bin … More Saudi Arabia’s King Salman Sends Message To Algeria’s President Via Foreign Minister
UAE Lifts Ban On Entry From Certain Countries For Vaccinated Residents
Dubai/UAE – – The United Arab Emirates said on Friday residents who had been fully vaccinated with a shot approved by the World Health Organization could return as of Sept.12 from a list of previously suspended countries. Dubai, one of the UAE’s seven emirates, is due to open the EXPO 2020 world fair on Oct.1 … More UAE Lifts Ban On Entry From Certain Countries For Vaccinated Residents
Dubai’s Emirates To Resume Flights To Saudi Arabia After COVID – 19 Ban Lifted
Dubai/UAE – – Dubai carrier Emirates Airline will be resuming flights to Saudi Arabia starting from September 11, following the Kingdom’s announcement that it would lift COVID – 19 travel restrictions on the United Arab Emirates. ‘From Saturday, 11 September, Emirates will begin operating 24 weekly flights to Saudi Arabia, including daily flights to the … More Dubai’s Emirates To Resume Flights To Saudi Arabia After COVID – 19 Ban Lifted
Saudi Arabia Extends Iqama, Visit, Exist And Re – Entry Visas For Free Till Nov. 30
Riyadh / Saudi Arabia – – Saudi General Directorate Of Passports has started to automatically extend the validity of residence permits (Iqama) for expatriates outside the Kingdom as well as vist visas and exit and re – entry visas without fees or charge until Nov.30. The decision implements the directives of King Salman. The extension, … More Saudi Arabia Extends Iqama, Visit, Exist And Re – Entry Visas For Free Till Nov. 30
Saudi Arabia’s MDLBEAST Announces Lineup For 2021 SOUNDSTORM Festival
Riyadh / Saudi Arabia – – Saudi Arabia’s MDLBEAST has unveiled the official lineup for its 2021 SOUNDSTROM festival, a record – setting event that launched as MDLBEAST Festival in December. Being staged in Riyadh from Dec.16 to 19, SOUNDSTORM will feature musicians from around the world with more than 150 superstar and international dance … More Saudi Arabia’s MDLBEAST Announces Lineup For 2021 SOUNDSTORM Festival
Loading…
Something went wrong. Please refresh the page and/or try again.
