Page 39 - Newsletter-Hotel & Hospitality industry

enabled by Swiggy's “reliable, fast and introduced innovative payment options for
convenient deliveries” from over 35,000 both consumers and delivery partners.
restaurants, and a delivery fleet of more than “This infusion of capital... ensures that
t 40,000 partners. ambitious plans for broadening their platform
Since the last round of funding three months and expanding their reach across India will be
h ago, Swiggy has begun operations in Kochi, realised,” said Larry Illg, CEO of Naspers
Ventures.
Coimbatore, Nagpur and Lucknow and
g

Saudi Arabia Bans Foreign Workers In 12
i
s Sectors, Many Indians To Be Affected

n In a bid to pressure companies into hiring more Saudi citizens and reduce unemployment in the

country, the Kingdom of Saudi Arabia has imposed a restriction on the expatriates from working
I in 12 sectors.
s The new rule could potentially affect large numbers of people since about 12 million foreigners work

in Saudi Arabia, doing many of the strenuous, dangerous and lower-paid jobs shunned by 20 million
Saudi citizens.
s The restriction is also likely to affect over 30 lakh Indians who live and work in Saudi Arabia.

The following sectors will be restricted for hiring of expatriates from September 11, 2018:
e Ÿ Car and motorbike showrooms

Ÿ Readymade clothes stores
n Ÿ Home and office furniture stores

i Ÿ Home appliances and kitchen utensils stores

s The following sectors will be restricted for hiring of expatriates from November 9, 2018
Ÿ Electronics stores
u Ÿ Watches and clocks stores

Ÿ Optics stores
B The following sectors will be restricted for hiring of expatriates from January 7, 2019

Ÿ Medical equipment and supplies stores
a Ÿ Building material stores

Ÿ Auto spare parts stores
i Ÿ Carpet selling stores

d The jobless rate among Saudis aged 15 to 24 stood at 32.6 percent last year, according to the
Ÿ Sweet shops

n International Labour Organisation. Saudi Arabia posted an economic contraction in 2017 for the
first time in eight years due to severe austerity measures.
I The new rule is a part of the ongoing economic reforms launched last year to ease joblessness
among Saudis by 2020. Saudi Arabia is India's fourth largest trade partner after China, the US and
the UAE.
The country is a major source of India's energy requirement as it accounts for almost one-fifth of
India's crude oil requirement.