Saudi Arabia to Start Supporting Private Sector Employees

Saudi Arabia to Start Supporting Private Sector Employees
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Saudi Arabia to Start Supporting Private Sector Employees

Saudi Arabia to Start Supporting Private Sector Employees

The Human Resources Development Fund (HADAF) announced the activation of a special initiative aimed at supporting Saudi private sector employees.

The initiative will benefit more than 80,000 Saudi men and women working in the private sector, specifically those who have been employed since the beginning of July 2019 and have not received any support from HADAF so far.

In a statement, HADAF called on private sector institutions to register online to take advantage of the initiative.

It added that the initiative fell within the framework of programs launched by the Fund as part of government support initiatives to ensure the stability of private sector enterprises, in light of the current economic situation that was impacted by the coronavirus outbreak.

According to the statement, HADAF has dedicated SR1 billion ($266 million) to support Saudis, who were employed in the private sector after July 1, 2019 and are receiving a salary ranging between SR4,000 and SR15,000.

The employees should not have previously benefited from the Fund’s employment support programs.

In parallel, HADAF announced on Monday that the value of projects proposed for competition by establishments in the “Forsa” platform has exceeded SR526 million since the launch of the platform in August 2016.

The platform is an electronic service that provides business establishments with the ability to compete for direct purchasing orders offered by government companies and major entities in the private sector.



Europe Gas: Prices ease ahead of Trump-Putin phone call

Representation photo: Smoke is released from one of the chimneys of the Dora (Daura) Thermal Power Station in the Dora district in southern Baghdad on January 9, 2025. (Photo by AHMAD AL-RUBAYE / AFP)
Representation photo: Smoke is released from one of the chimneys of the Dora (Daura) Thermal Power Station in the Dora district in southern Baghdad on January 9, 2025. (Photo by AHMAD AL-RUBAYE / AFP)
TT
20

Europe Gas: Prices ease ahead of Trump-Putin phone call

Representation photo: Smoke is released from one of the chimneys of the Dora (Daura) Thermal Power Station in the Dora district in southern Baghdad on January 9, 2025. (Photo by AHMAD AL-RUBAYE / AFP)
Representation photo: Smoke is released from one of the chimneys of the Dora (Daura) Thermal Power Station in the Dora district in southern Baghdad on January 9, 2025. (Photo by AHMAD AL-RUBAYE / AFP)

Dutch and British wholesale gas prices eased on Tuesday morning as the market awaited any news on a potential peace deal between Russia and Ukraine but low storage levels remain a concern and weather forecasts are mixed.
The Dutch front-month contract inched down by 0.55 euro to 40.65 euros per megawatt hour (MWh) by 0917 GMT, LSEG data showed.
The Dutch May contract was down 0.68 euro at 40.57 euros/MWh, while the day-ahead contract eased by 0.20 euro to 40.80 euros/MWh, Reuters said.
In Britain, the day-ahead contract was down 1.01 pence at 101.75 pence per therm.
All eyes will be on the outcome of the call between US President Donald Trump and Russian President Vladimir Putin scheduled for 1300-1500 GMT and whether it may lead to a ceasefire in Ukraine, analysts at Energi Danmark said.
"Until then, the market is caught in uncertainty," they added.
Traders holding speculative long positions in the gas market have become nervous that a potential peace deal between Russia and Ukraine could see the resumption of some Russian pipeline gas into Europe, analysts at ING said in a note.
Meanwhile, fresh tensions in the Middle East, with new Israeli air strikes on Gaza, could provide some bullish market sentiment, said LSEG analyst Yuriy Onyshkiv.
"Later this week, warmer temperatures are expected but the long-term view still forecasts below seasonal normal levels which may continue to pressure gas storages," consultancy Auxilione said in its daily market report.
EU gas storage sites were last seen 34.84% full, compared with nearly 60% seen at the same time last year, data from Gas Infrastructure Europe showed.
In the European carbon market, the benchmark contract edged down by 0.12 euro to 69.99 euros a metric ton.