Bahrain Launches National Plan to End Unemployment

Bahrain’s capital, Manama. (Asharq Al-Awsat)
Bahrain’s capital, Manama. (Asharq Al-Awsat)
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Bahrain Launches National Plan to End Unemployment

Bahrain’s capital, Manama. (Asharq Al-Awsat)
Bahrain’s capital, Manama. (Asharq Al-Awsat)

Bahrain launched Monday a program to recruit young Bahrainis, increase their opportunities in quality jobs through training and rehabilitation, and support wages so they can compete in the private sector and make citizens the first choice of employment for institutions and companies.

The government’s plan included a 66 percent increase in the corresponding work fees from BD300 (about $798) to BD500 ($1,330) per every two years.

The flexible work permit registration fees will be increased from BD200 to BD500, with a recurring monthly payment worth BD30.

The government also confirmed the implementation of all initiatives of the National Employment Program, which was launched by Premier Prince Khalifa bin Salman Al Khalifa at the session held by the cabinet on Monday.

This came during a press conference in which Bahraini officials gave details about the four key initiatives within the program.

The officials included Minister of Finance and National Economy Prince Salman bin Khalifa, Minister of Labor and Social Development Jameel Humaidan, and Chief Executive of Bahrain’s Labor Fund (Tamkeen) Dr. Ibrahim Janahi.

The Premier said the program would contribute to employing and qualifying Bahrainis in accordance with the market’s needs in the upcoming period.

He outlined the importance of achieving the program’s targets along with its key initiatives, which include launching an awareness campaign to encourage citizens to register in the National Employment Program, amending the unemployment insurance draft law in order to increase compensation fees, increasing fees associated with the Parallel Bahrainization System and the Flexible Work Permit, and redesigning Tamkeen’s Training and Wage Support Program.

Humaidan, for his part, encouraged locals to register in the Program while affirming that the ministry continues to assess and monitor unemployment rates in accordance with international best practices.

Janahi, however, said the program will pave the way for redesigning Tamkeen’s wage support program within one month.

He pointed out that under the current Wage Support Program, Tamkeen’s contribution is focused on new graduates as well as experienced employees.

For new graduates, Tamkeen encourages companies to hire Bahrainis through the Wage Support Program, which contributes to the salaries of Bahrainis over the first three years of employment: 70 percent in the first year, 50 percent in the second year, and 30 percent in the third year. Its contribution reaches up to BD500 per month.

Whereas for experienced employees, Tamkeen will allocate BD250 or 25 percent of the salary for experienced Bahraini employees in the private sector.



Iraq, Saudi, Russia Stress Need for Stable Oil Market ahead of OPEC+ Meeting

A 3D printed oil pump jack is seen in front of displayed stock graph and Opec logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration
A 3D printed oil pump jack is seen in front of displayed stock graph and Opec logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration
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Iraq, Saudi, Russia Stress Need for Stable Oil Market ahead of OPEC+ Meeting

A 3D printed oil pump jack is seen in front of displayed stock graph and Opec logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration
A 3D printed oil pump jack is seen in front of displayed stock graph and Opec logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration

OPEC+ members Iraq, Saudi Arabia and Russia agreed in a meeting in Iraq on Tuesday on the importance of maintaining stable oil markets and fair prices, Iraq's Prime Minister Office said on Tuesday.

The talks come ahead of Sunday's meeting of OPEC+, which comprises the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, where OPEC+ sources say it will weigh a possible further delay to plans to raise oil output.

Iraqi Prime Minister Mohammed Shia al-Sudani, Saudi Arabian Energy Minister Prince Abdulaziz bin Salman, and Russian Deputy Prime Minister Alexander Novak attended the meeting.

They discussed "the conditions of global energy markets and matters related to the production of crude oil, its flow to markets, and meeting demand," the prime minister's office said, Reuters reported.

"The importance of maintaining stability, balance, and fair prices was emphasised, while stressing the vital role played by the OPEC+ group in this regard," the office added.

Russian energy minister Sergei Tsivilev and deputy energy minister Pavel Sorokin were also present, according to a photo posted on the X account of the Iraqi prime minister's media office.

OPEC+, which pumps around half the world's oil, has already delayed a plan to gradually lift production by several months this year because of falling prices, weak demand and rising production outside the group.

Despite OPEC+'s cuts and delays to output hikes, oil prices have mostly stayed in a $70-$80 per barrel range this year and on Tuesday were trading below $74 a barrel, not far above a 2024 low reached in September.

Azerbaijan's Energy Minister Parviz Shahbazov told Reuters on Monday OPEC+ may at Sunday's meeting consider leaving its current oil output cuts in place from Jan. 1. The meeting will be held online, OPEC+ sources said.