Saudi Business Sector Responds to Govt Call to Tighten Preventive Measures

Saudi Arabia stresses the implementation of the precautionary measures in the public and private sectors (Photo: Asharq Al-Awsat).
Saudi Arabia stresses the implementation of the precautionary measures in the public and private sectors (Photo: Asharq Al-Awsat).
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Saudi Business Sector Responds to Govt Call to Tighten Preventive Measures

Saudi Arabia stresses the implementation of the precautionary measures in the public and private sectors (Photo: Asharq Al-Awsat).
Saudi Arabia stresses the implementation of the precautionary measures in the public and private sectors (Photo: Asharq Al-Awsat).

The remote work system implemented by Saudi Arabia when the outbreak of the Covid-19 was first reported has succeeded in achieving productive targets during the first wave of the virus and contributed to generating jobs and work opportunities in small cities and governorates, experts told Asharq Al-Awsat.

This comes as the Saudi Ministry of Human Resources and Social Development has recently called on workers in the public and private sectors to adhere to precautionary and preventive measures, and to abide by health instructions and physical distancing at workplaces, in addition to resorting to remote work as much as possible, with the importance of applying a flexible working-hour policy.

Last year, the ministry launched the second phase of the “remote work” program, which includes the launch of an electronic portal to provide job offers and other services, such as tracking and following up on employees’ performance.

The ministry explained that the launch of the second phase comes after setting the controls and standards that govern the work environment, to ensure that the time and quality of the output is not affected, as well as guaranteeing the productivity and discipline of the employees included in the program.

In this regard, expert on public policies and international cooperation, Dr. Akram Jadawi, told Asharq Al-Awsat that the ministry’s decision to invite all sectors to implement the remote work program and to adopt flexible work policies came in a timely manner, especially as some parties were quick to resort to the system and reduce the number of employees in workplaces.

The remote work system has proven its effectiveness in raising productivity whenever the appropriate conditions are present, Jadawi said.

Member of the Board of Directors of the Saudi Society for Human Resources, Bader Al-Enezi, told Asharq Al-Awsat that the public and private sectors, with their profit and non-profit branches, have gained experience in dealing with the remote work system after recognizing the risks of the pandemic.

He emphasized that several countries were working on equipping the technical infrastructure to ensure the continuity of the economy and workflow in light of the current crisis, adding that the Saudi sectors were able to keep pace with the rapid changes in the business model.



Turkish Central Bank 2024 Loss Around $18 billion

A logo of Türkiye's Central Bank is pictured at the entrance to its headquarters in Ankara, Türkiye February 8, 2024. REUTERS/Cagla Gurdogan/File Photo
A logo of Türkiye's Central Bank is pictured at the entrance to its headquarters in Ankara, Türkiye February 8, 2024. REUTERS/Cagla Gurdogan/File Photo
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Turkish Central Bank 2024 Loss Around $18 billion

A logo of Türkiye's Central Bank is pictured at the entrance to its headquarters in Ankara, Türkiye February 8, 2024. REUTERS/Cagla Gurdogan/File Photo
A logo of Türkiye's Central Bank is pictured at the entrance to its headquarters in Ankara, Türkiye February 8, 2024. REUTERS/Cagla Gurdogan/File Photo

Türkiye 's central bank posted a loss of 700.4 billion lira ($18.4 billion) in 2024, according to its balance sheet published in the Official Gazette on Tuesday.

In 2023, the bank had posted a loss of 818.2 billion lira (or $25 billion at that time).

The loss, stemming from a foreign exchange-protected deposit scheme, prompted the central bank to pass on distributing profit to the Treasury in 2023 and now in 2024, Reuters reported.

The central bank will convene its general assembly on April 30 in Ankara to discuss the 2024 results.

Meanwhile, the Turkish budget showed a deficit of 261.5 billion lira ($6.87 billion) in March, while there was a primary deficit of 100.2 billion lira, the Treasury and Finance Ministry said on Tuesday.