Saudi royal decree guarantees allowances to cover cost of living for new fiscal year

Updated 18 December 2018
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Saudi royal decree guarantees allowances to cover cost of living for new fiscal year

A royal decree by Saudi Arabia’s King Salman ordered the continuation of allowances covering the cost of living for civil sector employees for the new fiscal year on Tuesday.

The decree states that 1,000 Saudi riyals ($266) would be given to citizens on a monthly basis.  This will continue for one year until the study of the social protection system is completed.

Saudi Arabia also announced plans to increase state spending by more than seven percent next year in an effort to spur economic growth, which has been hurt by low oil prices, according to a 2019 budget released by the finance ministry.

 


Saudi Aramco recognized as a leader in the Fourth Industrial Revolution

Updated 22 January 2019
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Saudi Aramco recognized as a leader in the Fourth Industrial Revolution

JEDDAH: Saudi Aramco’s Uthmaniyah Gas Plant (UGP) has been recognized by the World Economic Forum (WEF) as a “Lighthouse” manufacturing facility and a leader in technology applications of the Fourth Industrial Revolution. 
Saudi Aramco is the first energy company globally to be included in this select group of manufacturing sites. The plant is also the only facility in the Middle East to be recognized by WEF. 
The announcement was made ahead of WEFs annual meeting in Davos, Switzerland.
The gas plant is one of the world’s largest gas processing plants and was commissioned in 1981 as part of Saudi Aramco’s Master Gas System to process associated gas from oil wells. 
The use of drones and wearable technologies to inspect pipelines and machinery has helped cut inspection time by 90% in this industrial facility.
“The recognition of the Uthmaniyah Gas Plant demonstrates Saudi Aramco’s shift to transform and adapt in the rapidly changing global energy landscape. Uthmaniyah is only one part of our large integrated energy value chain where IR 4.0 technologies are playing a critical role to enable significant capital and operational efficiencies,” said Amin H. Nasser, Chief Executive Officer of Saudi Aramco.
The seven new facilities join nine other “Manufacturing Lighthouses” which WEF unveiled in September 2018. The 16 factories were selected from an initial list of 1,000 manufacturers based on their successful implementation of cutting-edge technologies of the future that drive financial and operational impact.
The “Lighthouse” program was conducted by WEF in collaboration with McKinsey during a year-long study. A study team visited UGP in Saudi Arabia and performed a thorough audit.