Scrolling news:

Palestine: Gaza casualty toll on the rise, Israeli strikes continue on day 20

Palestine: Eight Palestinians killed, dozens wounded Sunday

Eid moon sighting possiblities, Muslims in South Africa have declared Eid

Pakistan: More rain with thunder, lightening forecast in next 24 hours in Rawalpindi

Libya: US embassy evacuated after heavy violence

Palestine: List of Palestinians killed by Israeli forces between July 8 to July 27

Palestine: Two Palestinians beaten by Jewish mob in Jerusalem

Palestine: Reports show murder of 3 Israeli teenage settlers was not carried out by Hamas

Palestine: Remains of 85 Palestinians located under rubble of bombarded homes

Palestine: Ten Palestinians killed by Israeli forces in West Bank

Palestine: At least 15 kidnapped by Israeli forces from West Bank

Palestine: Palestinians pull over 140 bodies from under Gaza rubble, total killed 1000

Lebanon: Nasrallah: Israel on a path towards “suicide” in Gaza

Palestine: Two Palestinians killed as tens of thousands protest Israeli assault across West Bank

Palestine: Amid Gaza ceasefire calm, at least 40 dead bodies are found

Palestine: Entire 20 members of one family in Gaza killed prior to ceasefire, as death toll tops 940

Palestine: Seventeen killed in early morning hours of Friday

Palestine: Israeli forces invade Azzun in W Bank, use Palestinian civilians as human shields

Palestine: 931 Palestinians from Jerusalem & inside Israel taken captive in 3 Weeks

Saudi Arabia behind effort to disarm the Palestinian Resistance

Saudi Arabia will increase business as it changes weekends

25th Jun 2013

By Sukaina Ladak

 

The Muslim News: Saudi Arabia has transitioned its working week from Sunday to Thursday, meanings its official weekend is now Fridays and Saturdays, despite the failure of a similar proposal in 2007.

 

A royal decree on June 23 said that Government ministries and monetary agencies are adopting the new weekend from June 29.

 

King Abdullah made a statement on this decision saying that it is “for the sake of putting an end to the negative effects and the lost economic opportunities consistently associated with variation based on work days.”

 

John Sfakianakis, chief investment strategist at MASIC, a Riyadh-based investment company, said on June 23 the decision “will make the Saudi market more aligned with regional markets.”

 

Schools and universities will implement the change at the start of the new academic year.

 

Dubai, a main commercial hub also has its weekend on the same day. Oman recently made the switch last month.

 

John Burbank founder of  San Francisco-based hedge fund Passport Capital LLC, said in February the move may attract as much as $30 billion of inflows.

 

Senior fund manager at ING Investment Management in Dubai said “Investors can read between the lines and see this as another step towards opening up the market.” Deutsche Bank and HSBC predicted that foreign investors could be given direct access to the country’s $400 billion stock exchange.

×

Comments are closed.

Sectarianism in the Middle East and its rise in the UK, Standpoint, Sahar TV. Interview 29 May 2013 and aired on 12 June 2013


Latest Tweets

The Muslim News

awards

Awards for Excellence

Read more