RIYADH: Saudi Cable Co. said first-quarter losses narrowed as its auditor revealed a claim from extra zakat liabilities of almost SR200 million ($53 million).
The provider of energy and telecoms cables posted a net loss of SR35.9 million for the first three months of the 2021, down from SR43.2 million a year earlier and SR46.6 million in the previous quarter, it said in a Tadawul filing.
Revenue increased 7.2 percent year on year to SR63.9 million, but was down 10.6 percent from the fourth quarter of 2020.
The General Authority for Zakat and Tax (GAZT) has made a claim of SR199.8 million for additional zakat from previous years, which Saudi Cable is disputing and has not included any provision for in its financial results, its auditor said in the filing.
JEDDAH: A surge in beggars has been witnessed across Saudi Arabia, taking advantage of the holy month and the acts of charity obligatory upon Muslims.
The scene is not new to residents of the Kingdom. For years, beggars who have arrived illegally through various means such as smuggling, originally from areas such as Africa, Afghanistan and Yemen and even local citizens have roamed the streets asking for money.
Migrant smuggling, the irregular movement of people through international borders, is one of the world’s most lucrative criminal activities and has been an issue in the Kingdom for years. The situation dramatically worsened after the Houthis, the Iran-backed militia group, gained power in Yemen, and thousands of people have tried to escape into the Kingdom from the improvised nation.
Saudi Arabia issues 40,500 fines for tax violations in first quarter zawya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zawya.com Daily Mail and Mail on Sunday newspapers.
Saudi parents welcome possible schools reopening but concerns remain
Education minister unveils plans to vaccinate all school staff, raising hopes that in-person learning can resume in August
Updated 06 April 2021
April 06, 2021 23:43
JEDDAH: After a year of coping with the challenges created by distance learning, many parents in Saudi Arabia breathed a sigh of relief on Tuesday as hopes grew that their children will soon be able to return to full-time in-person classes.
Education Minister Hamad Al-Sheikh announced a schedule for all school staff, at all levels, to receive COVID-19 vaccinations before the start of the next school semester in August. This is in keeping with announcements by other Saudi ministries and organizations that have requested their staff to get vaccinated in preparation for a return to normal daily life.