Saudi crown prince and Russian president discuss global oil markets

Crown Prince Mohammed bin Salman and Vladimir Putin agreed to closely cooperate on restricting oil output. (AFP/File)
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Updated 28 May 2020

Saudi crown prince and Russian president discuss global oil markets

  • Vladimir Putin praises Kingdom for its efforts to improve market stability

RIYADH: Russian President Vladimir Putin called Saudi Crown Prince Mohammed bin Salman, the Kingdom’s deputy prime minister and minister of defense, on Wednesday.

During their telephone conversation they discussed the efforts being made to stabilize global oil markets. Putin praised the Kingdom for the prominent role it is playing in helping to achieve this.

The two men also talked about the relationship between their countries and how it might further be developed.
 


Minimum wage for Saudis raised to SR4,000

Ahmed Al-Rajhi. (Photo/Twitter)
Updated 24 November 2020

Minimum wage for Saudis raised to SR4,000

  • A Saudi employee earning SR3,000 or more but less than SR4,000 will only earn the company half a point in the point-based system. Those earning less than SR3,000 will not be counted at all

RIYADH: Saudi Minister of Human Resources and Social Development Ahmed Al-Rajhi has issued a decision to raise the minimum wage for Saudis registered in the Nitaqat program from SR3,000 ($800) to SR4,000.
A Saudi worker with a minimum salary of SR4,000 will be considered as one worker in the Saudization percentage of the Nitaqat program, which was introduced to promote localization of the workforce.
The program also aims to enhance jobs for Saudi nationals through aligning the quality of nationalization with a range of incentives given by the Human Resources Development Fund.
A Saudi employee earning SR3,000 or more but less than SR4,000 will only earn the company half a point in the point-based system. Those earning less than SR3,000 will not be counted at all.
Part-time Saudi employees will gain a company half point in the Nitaqat system. Flexible work system employees are calculated in the percentage of the Nitaqat program as one-third of a Saudi worker for the entity they work for, provided that they complete a total of 168 working hours and pay social insurance contributions.
The decision also applies to Saudi students residing in the Kingdom who regularly work part-time as flexible work system employees, or permanent part-time workers.