Saudi Austerity
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Saudi Seeks Religious Reset As Clerical Power Wanes
Muezzins issuing high-decibel calls to prayer have long been part of Saudi identity, but a crackdown on mosque loudspeakers is among contentious reforms seeking to shake off the Muslim kingdom's austere image.
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Saudis Stock Up, Brace For Tripled VAT In Kingdom's Austerity Push
Saudis braced Wednesday for a tripling in value-added tax, another unpopular austerity measure after the twin shocks of coronavirus and an oil price slump triggered the kingdom's worst economic decline in decades.
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Saudi Wealth Fund "Shopping Spree" Belies Economic Pain
Saudi Arabia's sovereign wealth fund has snapped up around $8 billion worth of stakes in global giants -- from Boeing to Facebook -- in a spree that belies deep and unpopular austerity measures at home.
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After Oil-Rich "Magic Decade", Austerity Drive A Crushing Blow To Saudis
Juggling two mortgages and part-time jobs, Saudi academic Abdullah finally came close to building his own home, but the kingdom's coronavirus-triggered austerity drive has dealt a crushing blow to his dreams.
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Saudi Triples VAT, Halts Government Handouts In Austerity Drive: Report
Saudi Arabia's finance minister on Monday said the kingdom will triple its Value Added Tax (VAT) and halt monthly handout payments to citizens in new austerity measures amid a coronavirus-led economic slump.
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Saudi To Impose Fines For Tight Clothes, Kissing In Public
Saudi Arabia on Saturday said it would impose fines for violations of "public decency", including immodest clothing and public displays of affection, a day after the austere kingdom opened up to foreign tourists.
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In Bid To Protect Pre-Islamic Heritage, Saudi Upends Religious Dictates
Saudi Arabia is preserving pre-Islamic heritage sites, like a date palm oasis from the Stone Age, in a break with the austere strain of Sunni Islam that has dominated the country for decades, as the reclusive kingdom tries to open up.
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Kicking Off 3 Day Visit To France, Saudi Crown Prince Dines With Emmanuel Macron
Saudi Arabia's crown prince dined with French President Emmanuel Macron at Paris's Louvre museum on Sunday after arriving on a three-day visit aimed at reshaping his kingdom's austere image as he presses ahead with plans to reform the conservative petrostate.
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11 Saudi Princes Detained Following Protest: Report
Saudi authorities have detained 11 princes after they gathered at a royal palace in Riyadh in a rare protest against austerity measures that included suspending payment of their utility bills, Saudi media reported on Saturday.
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Opinion: Crown Prince Of Hypocrisy
Saudi Arabia's Crown Prince Mohammed bin Salman wants to shake up the hidebound kingdom. He has already announced that women will be permitted to drive, launched an anti-corruption campaign, allowed movie theaters to open next year, imposed budget austerity and revealed expansive ambitions to diversify the economy away from its dependence on oil. A...
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Idle Workers, Inevitable Cuts: Ministers Grade The Saudi Economy
The kingdom's post-oil plan is nothing more than window dressing for unpopular austerity measures, the minister said.
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As Saudi Austerity Starts To Bite, A Testing Time For Its Prince
Fahad bin Raja sells cars for a living in Saudi Arabia's capital. Abdullah Saeed drives them. In the kingdom's new age of austerity, both men are finding it harder to make ends meet.
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Oil's fall deepens on euro zone worry, higher supply
Brent crude oil slipped over a dollar towards $111 on Wednesday, extending its longest losing streak in nearly two years
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No end in sight to global jobs crisis: International Labour Organization
Youth jobless rates have soared, increasing the risk of social unrest especially in parts of Africa and the Middle East. Long-term jobseekers are demoralised and an average of 40 per cent of job seekers in their prime (aged 25-49) in advanced countries have been without work for more than a year, the report found. The report recommends countries wo...
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Saudi Seeks Religious Reset As Clerical Power Wanes
Muezzins issuing high-decibel calls to prayer have long been part of Saudi identity, but a crackdown on mosque loudspeakers is among contentious reforms seeking to shake off the Muslim kingdom's austere image.
-
Saudis Stock Up, Brace For Tripled VAT In Kingdom's Austerity Push
Saudis braced Wednesday for a tripling in value-added tax, another unpopular austerity measure after the twin shocks of coronavirus and an oil price slump triggered the kingdom's worst economic decline in decades.
-
Saudi Wealth Fund "Shopping Spree" Belies Economic Pain
Saudi Arabia's sovereign wealth fund has snapped up around $8 billion worth of stakes in global giants -- from Boeing to Facebook -- in a spree that belies deep and unpopular austerity measures at home.
-
After Oil-Rich "Magic Decade", Austerity Drive A Crushing Blow To Saudis
Juggling two mortgages and part-time jobs, Saudi academic Abdullah finally came close to building his own home, but the kingdom's coronavirus-triggered austerity drive has dealt a crushing blow to his dreams.
-
Saudi Triples VAT, Halts Government Handouts In Austerity Drive: Report
Saudi Arabia's finance minister on Monday said the kingdom will triple its Value Added Tax (VAT) and halt monthly handout payments to citizens in new austerity measures amid a coronavirus-led economic slump.
-
Saudi To Impose Fines For Tight Clothes, Kissing In Public
Saudi Arabia on Saturday said it would impose fines for violations of "public decency", including immodest clothing and public displays of affection, a day after the austere kingdom opened up to foreign tourists.
-
In Bid To Protect Pre-Islamic Heritage, Saudi Upends Religious Dictates
Saudi Arabia is preserving pre-Islamic heritage sites, like a date palm oasis from the Stone Age, in a break with the austere strain of Sunni Islam that has dominated the country for decades, as the reclusive kingdom tries to open up.
-
Kicking Off 3 Day Visit To France, Saudi Crown Prince Dines With Emmanuel Macron
Saudi Arabia's crown prince dined with French President Emmanuel Macron at Paris's Louvre museum on Sunday after arriving on a three-day visit aimed at reshaping his kingdom's austere image as he presses ahead with plans to reform the conservative petrostate.
-
11 Saudi Princes Detained Following Protest: Report
Saudi authorities have detained 11 princes after they gathered at a royal palace in Riyadh in a rare protest against austerity measures that included suspending payment of their utility bills, Saudi media reported on Saturday.
-
Opinion: Crown Prince Of Hypocrisy
Saudi Arabia's Crown Prince Mohammed bin Salman wants to shake up the hidebound kingdom. He has already announced that women will be permitted to drive, launched an anti-corruption campaign, allowed movie theaters to open next year, imposed budget austerity and revealed expansive ambitions to diversify the economy away from its dependence on oil. A...
-
Idle Workers, Inevitable Cuts: Ministers Grade The Saudi Economy
The kingdom's post-oil plan is nothing more than window dressing for unpopular austerity measures, the minister said.
-
As Saudi Austerity Starts To Bite, A Testing Time For Its Prince
Fahad bin Raja sells cars for a living in Saudi Arabia's capital. Abdullah Saeed drives them. In the kingdom's new age of austerity, both men are finding it harder to make ends meet.
-
Oil's fall deepens on euro zone worry, higher supply
Brent crude oil slipped over a dollar towards $111 on Wednesday, extending its longest losing streak in nearly two years
-
No end in sight to global jobs crisis: International Labour Organization
Youth jobless rates have soared, increasing the risk of social unrest especially in parts of Africa and the Middle East. Long-term jobseekers are demoralised and an average of 40 per cent of job seekers in their prime (aged 25-49) in advanced countries have been without work for more than a year, the report found. The report recommends countries wo...
