A Saudi money exchanger wears a protective face mask and gloves as he counts Saudi riyal currency at a currency exchange shop in Riyadh, Saudi Arabia March 10, 2020. Reuters
A Saudi money exchanger wears a protective face mask and gloves as he counts Saudi riyal currency at a currency exchange shop in Riyadh, Saudi Arabia March 10, 2020. Reuters
A view of a deserted street during a curfew imposed to prevent the spread of the coronavirus disease in the holy city of Makkah. Reuters
A view of a deserted street during a curfew imposed to prevent the spread of the coronavirus disease in the holy city of Makkah. Reuters
Members of the Saudi armed forces attend prayers at a mosque in Saudi Arabia's holy city of Makkah on April 3, 2020. AFP
Members of the Saudi armed forces attend prayers at a mosque in Saudi Arabia's holy city of Makkah on April 3, 2020. AFP
A view of a deserted street during a curfew imposed to prevent the spread of the coronavirus disease in the holy city of Makkah. Reuters
A view of a deserted street during a curfew imposed to prevent the spread of the coronavirus disease in the holy city of Makkah. Reuters
A policeman wearing a protective face mask blocks the road during a curfew imposed to prevent the spread of the coronavirus disease in the holy city of Makkah. Reuters
A policeman wearing a protective face mask blocks the road during a curfew imposed to prevent the spread of the coronavirus disease in the holy city of Makkah. Reuters
A combination of photos shows a small crowd of worshippers around the sacred Kaaba in Mecca's Grand Mosque on March 7, 2020, and a large crowd during the pilgrimage, on August 13, 2019. AFP
A combination of photos shows a small crowd of worshippers around the sacred Kaaba in Mecca's Grand Mosque on March 7, 2020, and a large crowd during the pilgrimage, on August 13, 2019. AFP
Muslim worshippers circumambulate the sacred Kaaba in Makkah's Grand Mosque, Islam's holiest site, on April 3, 2020. AFP
Muslim worshippers circumambulate the sacred Kaaba in Makkah's Grand Mosque, Islam's holiest site, on April 3, 2020. AFP
A man checks his phone as he crosses an empty street in Saudi Arabia's holy city of Makkah on April 3, 2020. AFP
A man checks his phone as he crosses an empty street in Saudi Arabia's holy city of Makkah on April 3, 2020. AFP
A view of a deserted street during a curfew imposed to prevent the spread of the coronavirus disease in the holy city of Makkah. AFP
A view of a deserted street during a curfew imposed to prevent the spread of the coronavirus disease in the holy city of Makkah. AFP
A view of a deserted street during a curfew imposed to prevent the spread of the coronavirus disease in the holy city of Makkah. AFP
A view of a deserted street during a curfew imposed to prevent the spread of the coronavirus disease in the holy city of Makkah. AFP
A view of a deserted street during a curfew imposed to prevent the spread of the coronavirus disease in the holy city of Makkah. AFP
A view of a deserted street during a curfew imposed to prevent the spread of the coronavirus disease in the holy city of Makkah. AFP
Birds are seen near the Grand Mosque during a curfew. Reuters
Birds are seen near the Grand Mosque during a curfew. Reuters
Police officers man a checkpoint in a street in Saudi Arabia's holy city of Makkah on April 3, 2020. AFP
Police officers man a checkpoint in a street in Saudi Arabia's holy city of Makkah on April 3, 2020. AFP
A view of a deserted street during a curfew imposed to prevent the spread of the coronavirus disease in the holy city of Makkah. AFP
A view of a deserted street during a curfew imposed to prevent the spread of the coronavirus disease in the holy city of Makkah. AFP
A view of a deserted street during a curfew imposed to prevent the spread of the coronavirus disease in the holy city of Makkah. AFP
A view of a deserted street during a curfew imposed to prevent the spread of the coronavirus disease in the holy city of Makkah. AFP
A view of a deserted street during a curfew imposed to prevent the spread of the coronavirus disease in the holy city of Makkah. AFP
A view of a deserted street during a curfew imposed to prevent the spread of the coronavirus disease in the holy city of Makkah. AFP
The clock tower is lit up with the phrase "Home Heroes" during a curfew. Reuters
The clock tower is lit up with the phrase "Home Heroes" during a curfew. Reuters
A view of a deserted street during a curfew imposed to prevent the spread of the coronavirus disease in the holy city of Makkah. Reuters
A view of a deserted street during a curfew imposed to prevent the spread of the coronavirus disease in the holy city of Makkah. Reuters
The deserted old town of Saudi Arabia's Red Sea coastal city of Jeddah. AFP
The deserted old town of Saudi Arabia's Red Sea coastal city of Jeddah. AFP
A view of a deserted street during a curfew imposed to prevent the spread of the coronavirus disease in the holy city of Makkah. Reuters
A view of a deserted street during a curfew imposed to prevent the spread of the coronavirus disease in the holy city of Makkah. Reuters
The announcement comes amid uncertainty over the hajj which is due to take place at the end of July, after authorities this week urged Muslims to temporarily defer preparations for the annual pilgrimage. AFP
The announcement comes amid uncertainty over the hajj which is due to take place at the end of July, after authorities this week urged Muslims to temporarily defer preparations for the annual pilgrimage. AFP
The measures bar people from entering and exiting the capital as well as Jeddah, Mecca and Medina and prohibiting movement between all provinces to stem the spread of coronavirus with the number of deaths from the disease rising to 21. AFP
The measures bar people from entering and exiting the capital as well as Jeddah, Mecca and Medina and prohibiting movement between all provinces to stem the spread of coronavirus with the number of deaths from the disease rising to 21. AFP
Pigeons fly around closed shops in the old town of Saudi Arabia's Red Sea coastal city of Jeddah on April 2, 2020. AFP
Pigeons fly around closed shops in the old town of Saudi Arabia's Red Sea coastal city of Jeddah on April 2, 2020. AFP
A vegetable seller wearing a protective face mask sells fruits and vegetables at a market before markets close, to prevent the spread of coronavirus disease, in Riyadh. Reuters
A vegetable seller wearing a protective face mask sells fruits and vegetables at a market before markets close, to prevent the spread of coronavirus disease, in Riyadh. Reuters
Branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia. Reuters
Branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia. Reuters

Saudi government to cover 60 per cent of salaries amid coronavirus

The latest 9 billion riyal package seeks to limit the number of workers laid off due to the outbreak

James Haines-Young
James Haines-Young

April 03, 2020

  • English
  • Arabic

The Saudi government will cover 60 per cent of the salaries of private-sector workers in industries hit by the coronavirus pandemic, King Salman announced on Friday.

The move is the latest major economic package in the kingdom to help cushion the financial impact of the virus as the number of cases hit 1,885 with 21 deaths.

The state-run Saudi Press Agency announced that companies forced to consider lay-offs due to the virus could now apply to the government to cover 60 per cent of the salaries of workers for the next three months up to 9,000 Saudi riyal per month (Dh 8,787).

The total economic package is valued at over 9 billion riyal.

Coronavirus in the Middle East

Palestinian artist Rana al-Ramlawi works on a sand sculpture in front of her home in Gaza City during the novel coronavirus pandemic crisis. AFP
Palestinian artist Rana al-Ramlawi works on a sand sculpture in front of her home in Gaza City during the novel coronavirus pandemic crisis. AFP
Boys sell cotton candy an hour ahead of the curfew imposed by the government as prevention measures due to the coronavirus outbreak, in Cairo, Egypt. AP Photo
Boys sell cotton candy an hour ahead of the curfew imposed by the government as prevention measures due to the coronavirus outbreak, in Cairo, Egypt. AP Photo
A woman displays her mask as Filipinos who availed general amnesty granted by the Kuwaiti government gather at the Kuwait International Airport Terminal on their home to Manila amid the coronavirus COVID-19 pandemic crisis. For systematic documentations, illegal ex-pats from the Philippines, Egypt, India, Bangladesh, Sri Lanka and other countries were at first, requested to submit themselves at a school compound in Farwaniya arranged according to nationalities. AFP
A woman displays her mask as Filipinos who availed general amnesty granted by the Kuwaiti government gather at the Kuwait International Airport Terminal on their home to Manila amid the coronavirus COVID-19 pandemic crisis. For systematic documentations, illegal ex-pats from the Philippines, Egypt, India, Bangladesh, Sri Lanka and other countries were at first, requested to submit themselves at a school compound in Farwaniya arranged according to nationalities. AFP
An Iraqi man wearing a protective face mask and gloves gives a bottle of water to a homeless man, who sits in front of a closed shop during a curfew imposed to prevent the spread of coronavirus disease (COVID-19), in Basra, Iraq. REUTERS
An Iraqi man wearing a protective face mask and gloves gives a bottle of water to a homeless man, who sits in front of a closed shop during a curfew imposed to prevent the spread of coronavirus disease (COVID-19), in Basra, Iraq. REUTERS
People walk or ride bicycles over a bridge, during the novel coronavirus pandemic crisis, in the Emirati city of Dubai. AFP
People walk or ride bicycles over a bridge, during the novel coronavirus pandemic crisis, in the Emirati city of Dubai. AFP
An Iraqi public hospital specialised doctor checks a woman's temperature for COVID-19 in the capital Baghdad's suburb of Sadr City, as part of actions taken by the authorities against the spread of the novel coronavirus. The process of examining citizens at their residences in Baghdad's eastern districts was launched in order to detect infection with the virus in the area where many cases were found to isolate patients and take them for treatment in public hospitals to limit the spread of the pandemic. AFP
An Iraqi public hospital specialised doctor checks a woman's temperature for COVID-19 in the capital Baghdad's suburb of Sadr City, as part of actions taken by the authorities against the spread of the novel coronavirus. The process of examining citizens at their residences in Baghdad's eastern districts was launched in order to detect infection with the virus in the area where many cases were found to isolate patients and take them for treatment in public hospitals to limit the spread of the pandemic. AFP
A woman covering her face walks past a poster depicting late Palestinian leader Yasser Arafat in Shatila Palestinian refugee camp, as the spread of coronavirus disease (COVID-19) continues, in Beirut suburbs, Lebanon. REUTERS
A woman covering her face walks past a poster depicting late Palestinian leader Yasser Arafat in Shatila Palestinian refugee camp, as the spread of coronavirus disease (COVID-19) continues, in Beirut suburbs, Lebanon. REUTERS
Libyans wearing protective face masks queue in front of a bank in the centre of the capital Tripoli, amidst the novel coronavirus pandemic crisis. AFP
Libyans wearing protective face masks queue in front of a bank in the centre of the capital Tripoli, amidst the novel coronavirus pandemic crisis. AFP
A fully veiled Syrian woman sews protective masks against the coronavirus COVID-19 at a workshop belonging to the humanitarian organisation Voluntary Relief Association, in the rebel-held town of Binnish in Syria's northwestern Idlib province. Fears are high that the virus could spread rapidly among the war-battered country's most vulnerable communities. The violence-plagued northwest, where around a million people have been displaced by conflict since December alone, is particularly vulnerable. AFP
A fully veiled Syrian woman sews protective masks against the coronavirus COVID-19 at a workshop belonging to the humanitarian organisation Voluntary Relief Association, in the rebel-held town of Binnish in Syria's northwestern Idlib province. Fears are high that the virus could spread rapidly among the war-battered country's most vulnerable communities. The violence-plagued northwest, where around a million people have been displaced by conflict since December alone, is particularly vulnerable. AFP
Empty chairs and tables are seen in a closed shop as a man walks towards a near-empty ferry pier in Istanbul, Turkey. Turkey has confirmed 168 deaths and 11,535 positive cases of the coronavirus, officials continue to implement steps to contain the spread of the virus including a ban on all intercity bus travel, all Internationals flights have been stopped and recreational activities such as fishing, jogging and barbecuing have been suspended in a bid to stop the spread of the virus. Getty Images
Empty chairs and tables are seen in a closed shop as a man walks towards a near-empty ferry pier in Istanbul, Turkey. Turkey has confirmed 168 deaths and 11,535 positive cases of the coronavirus, officials continue to implement steps to contain the spread of the virus including a ban on all intercity bus travel, all Internationals flights have been stopped and recreational activities such as fishing, jogging and barbecuing have been suspended in a bid to stop the spread of the virus. Getty Images
A woman wears a protective face mask and gloves, amid fear of the coronavirus disease (COVID-19), as she sells the masks in Tajrish square in Tehran, Iran. REUTERS
A woman wears a protective face mask and gloves, amid fear of the coronavirus disease (COVID-19), as she sells the masks in Tajrish square in Tehran, Iran. REUTERS

Finance Minister Mohammed Al Jadaan thanked King Salman and called on private sector companies to protect workers but also find ways to avoid firing people during the outbreak.

He said the new assistance package will be managed through Sanad, the national unemployment assistance system.

Mr Al Jadaan said that 1.2 million Saudis would be covered by the new measure and a committee under the financial authorities would assess the support and monitor the measure in case it needed to be extended beyond the three-month window.

The cover will begin in April with the first payments sent to companies on May 3, the minister said.

The government has already announced a package of measures to help companies hit by restrictions brought in to combat the spread of Covid-19.

The 70 billion riyal package exempted them from some taxes and fees and the SPA also highlighted a further 50 billion riyal support package to banks and financial institutions to aid small and medium enterprises.

The move comes after the government extended curfews in several areas on Thursday.

The holy cities of Makkah and Madinah are now under 24-hour curfew – up from 15 hours a day before. In Dammam and the governorates of Taif and Al Qatif, the curfew has been brought forward by four hours to combat the spread of coronavirus.

From Friday, the curfews will begin at 3pm instead of 7pm and end at 6am.

The port of Dammam, on the Gulf, is a main entry point for supplies for the oil industry centred in the eastern region and for the rest of the kingdom.

Riyadh and Jeddah have already been sealed off by authorities, barring people from entering and exiting the cities as well as prohibiting movement between all provinces.

Cars in the cities may only carry one passenger to limit transmission of the virus.

UAE currency: the story behind the money in your pockets
How Voiss turns words to speech

The device has a screen reader or software that monitors what happens on the screen

The screen reader sends the text to the speech synthesiser

This converts to audio whatever it receives from screen reader, so the person can hear what is happening on the screen

A VOISS computer costs between $200 and $250 depending on memory card capacity that ranges from 32GB to 128GB

The speech synthesisers VOISS develops are free

Subsequent computer versions will include improvements such as wireless keyboards

Arabic voice in affordable talking computer to be added next year to English, Portuguese, and Spanish synthesiser

Partnerships planned during Expo 2020 Dubai to add more languages

At least 2.2 billion people globally have a vision impairment or blindness

More than 90 per cent live in developing countries

The Long-term aim of VOISS to reach the technology to people in poor countries with workshops that teach them to build their own device

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Pharaoh's curse

British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.

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%3Cp%3EHeavyweight%20boxer%20Fury%20revealed%20on%20Sunday%20his%20cousin%20had%20been%20%E2%80%9Cstabbed%20in%20the%20neck%E2%80%9D%20and%20called%20on%20the%20courts%20to%20address%20the%20wave%20of%20more%20sentencing%20of%20offenders.%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3ERico%20Burton%2C%2031%2C%20was%20found%20with%20stab%20wounds%20at%20around%203am%20on%20Sunday%20in%20Goose%20Green%2C%20Altrincham%20and%20subsequently%20died%20of%20his%20injuries.%3C%2Fp%3E%0A%3Cp%3E%26nbsp%3B%E2%80%9CMy%20cousin%20was%20murdered%20last%20night%2C%20stabbed%20in%20the%20neck%20this%20is%20becoming%20ridiculous%20%E2%80%A6%20idiots%20carry%20knives.%20This%20needs%20to%20stop%2C%E2%80%9D%0D%20Fury%20said.%20%E2%80%9CAsap%2C%20UK%20government%20needs%20to%20bring%20higher%20sentencing%20for%20knife%20crime%2C%20it%E2%80%99s%20a%20pandemic%20%26amp%3B%20you%20don%E2%80%99t%20know%20how%20bad%20it%20is%20until%20%5Bit%E2%80%99s%5D%201%20of%20your%20own!%3C%2Fp%3E%0A

 

 

While you're here
While you're here
While you're here
The candidates

Dr Ayham Ammora, scientist and business executive

Ali Azeem, business leader

Tony Booth, professor of education

Lord Browne, former BP chief executive

Dr Mohamed El-Erian, economist

Professor Wyn Evans, astrophysicist

Dr Mark Mann, scientist

Gina MIller, anti-Brexit campaigner

Lord Smith, former Cabinet minister

Sandi Toksvig, broadcaster

 

The%20Afghan%20connection
%3Cp%3EThe%20influx%20of%20talented%20young%20Afghan%20players%20to%20UAE%20cricket%20could%20have%20a%20big%20impact%20on%20the%20fortunes%20of%20both%20countries.%20Here%20are%20three%20Emirates-based%20players%20to%20watch%20out%20for.%0D%3Cbr%3E%20%0D%3Cbr%3E%3Cstrong%3EHassan%20Khan%20Eisakhil%3C%2Fstrong%3E%0D%3Cbr%3EMohammed%20Nabi%20is%20still%20proving%20his%20worth%20at%20the%20top%20level%20but%20there%20is%20another%20reason%20he%20is%20raging%20against%20the%20idea%20of%20retirement.%20If%20the%20allrounder%20hangs%20on%20a%20little%20bit%20longer%2C%20he%20might%20be%20able%20to%20play%20in%20the%20same%20team%20as%20his%20son%2C%20Hassan%20Khan.%20The%20family%20live%20in%20Ajman%20and%20train%20in%20Sharjah.%0D%3Cbr%3E%20%0D%3Cbr%3E%3Cstrong%3EMasood%20Gurbaz%3C%2Fstrong%3E%0D%3Cbr%3EThe%20opening%20batter%2C%20who%20trains%20at%20Sharjah%20Cricket%20Academy%2C%20is%20another%20player%20who%20is%20a%20part%20of%20a%20famous%20family.%20His%20brother%2C%20Rahmanullah%2C%20was%20an%20IPL%20winner%20with%20Kolkata%20Knight%20Riders%2C%20and%20opens%20the%20batting%20with%20distinction%20for%20Afghanistan.%0D%3Cbr%3E%20%0D%3Cbr%3E%3Cstrong%3EOmid%20Rahman%3C%2Fstrong%3E%0D%3Cbr%3EThe%20fast%20bowler%20became%20a%20pioneer%20earlier%20this%20year%20when%20he%20became%20the%20first%20Afghan%20to%20represent%20the%20UAE.%20He%20showed%20great%20promise%20in%20doing%20so%2C%20too%2C%20playing%20a%20key%20role%20in%20the%20senior%20team%E2%80%99s%20qualification%20for%20the%20Asia%20Cup%20in%20Muscat%20recently.%0D%3Cbr%3E%3C%2Fp%3E%0A
At a glance

- 20,000 new jobs for Emiratis over three years

- Dh300 million set aside to train 18,000 jobseekers in new skills

- Managerial jobs in government restricted to Emiratis

- Emiratis to get priority for 160 types of job in private sector

- Portion of VAT revenues will fund more graduate programmes

- 8,000 Emirati graduates to do 6-12 month replacements in public or private sector on a Dh10,000 monthly wage - 40 per cent of which will be paid by government

While you're here
While you're here
More from Con Coughlin
Saturday's results

Women's third round

  • 14-Garbine Muguruza Blanco (Spain) beat Sorana Cirstea (Romania) 6-2, 6-2
  • Magdalena Rybarikova (Slovakia) beat Lesia Tsurenko (Ukraine) 6-2, 6-1
  • 7-Svetlana Kuznetsova (Russia) beat Polona Hercog (Slovenia) 6-4. 6-0
  • Coco Vandeweghe (USA) beat Alison Riske (USA) 6-2, 6-4
  •  9-Agnieszka Radwanska (Poland) beat 19-Timea Bacsinszky (Switzerland) 3-6, 6-4, 6-1
  • Petra Martic (Croatia) beat Zarina Diyas (Kazakhstan) 7-6, 6-1
  • Magdalena Rybarikova (Slovakia) beat Lesia Tsurenko (Ukraine) 6-2, 6-1
  • 7-Svetlana Kuznetsova (Russia) beat Polona Hercog (Slovenia) 6-4, 6-0

Men's third round

  • 13-Grigor Dimitrov (Bulgaria) beat Dudi Sela (Israel) 6-1, 6-1 -- retired
  • Sam Queery (United States) beat Jo-Wilfried Tsonga (France) 6-2, 3-6, 7-6, 1-6, 7-5
  • 6-Milos Raonic (Canada) beat 25-Albert Ramos (Spain) 7-6, 6-4, 7-5
  • 10-Alexander Zverev (Germany) beat Sebastian Ofner (Austria) 6-4, 6-4, 6-2
  • 11-Tomas Berdych (Czech Republic) beat David Ferrer (Spain) 6-3, 6-4, 6-3
  • Adrian Mannarino (France) beat 15-Gael Monfils (France) 7-6, 4-6, 5-7, 6-3, 6-2
GCC