Tuesday October 16, 2018
Home Politics Saudi Arabia:...

Saudi Arabia: Hundreds of jobless Indians starving in Kuwait

Minister of State for External Affairs M.J. Akbar would be taking up the issue with the Saudi and Kuwaiti authorities

0
//
353
workers in Saudi Arabia. Image source: www.thenewsminute.com
Republish
Reprint

New Delhi: On Saturday, July 30, Sushma Swaraj Minister of External Affairs, said a huge sum of Indian have been rendered unemployed in Saudi Arabia and Kuwait. General V.K Singh Minster of External Affairs will be leaving for Saudi Arabia to sort out the issue.

“Large number of Indians have lost their jobs in Saudi Arabia and Kuwait,” Sushma Swaraj tweeted.
“The employers have not paid wages, closed down their factories,” she said.

Follow NewsGram on Twitter

She stated this in response to a tweet from a man who said that over 800 jobless Indians have been starving for three days in Jeddah, Saudi Arabia.

Indians in Kuwait. Image source: kannadigaworld.com
Indians in Kuwait. Image source: kannadigaworld.com

“We have asked the Indian Embassy in Saudi Arabia to serve you food in Jeddah,” Sushma Swaraj said.

“My colleague @Gen_VKSingh is reaching Saudi Arabia to sort out all such matters,” she stated.

She said that while the situation in Kuwait was manageable, matters were much worse in Saudi Arabia.

Follow NewsGram on Facebook

Minister of State for External Affairs M.J. Akbar would be taking up the issue with the Saudi and Kuwaiti authorities, she stated.

“I assure you that no Indian worker rendered unemployed in Saudi Arabia will go without food,” Sushma Swaraj said in another tweet.

“I am monitoring this on an hourly basis,” she added.

Following this, the man who had tweeted about the situation in Jeddah, again tweeted pictures of Indians queuing up for food. (IANS)

ALSO READ: 

Click here for reuse options!
Copyright 2016 NewsGram

Next Story

Saudi Arabia’s Sovereign Fund Invested $1 Billion In An American Electric Car Manufacturer

Saudi Arabia's 33-year-old Crown Prince Mohammed bin Salman has talked about using the PIF to help diversify the economy of the kingdom.

0
lucid motors
Derek Jenkins, VP of Design at Lucid Motors, introduces the alpha prototype of the Lucid Air at the 2017 New York International Auto Show in New York City. VOA

Saudi Arabia’s sovereign wealth fund invested $1 billion Monday in an American electric car manufacturer just weeks after Tesla CEO Elon Musk earlier claimed the kingdom would help his own firm go private.

Tesla stock dropped Monday on reaction to the news, the same day that the Saudi fund announced it had taken its first loan, an $11 billion borrowing from global banks as it tries to expand its investments.

The Saudi Public Investment Fund said it would invest the $1 billion in Newark, California-based Lucid Motors.

Lucid Motors
Lucid Motors. Flickr

The investment “will provide the necessary funding to commercially launch Lucid’s first electric vehicle, the Lucid Air, in 2020,” the sovereign wealth fund said in a statement. “The company plans to use the funding to complete engineering development and testing of the Lucid Air, construct its factory in Arizona, enter production for the Lucid Air to begin the global rollout of the company’s retail strategy starting in North America.”

Lucid issued a statement quoting Peter Rawlinson, its chief technology officer, welcoming the investment.

“At Lucid, we will demonstrate the full potential of the electric-connected vehicle in order to push the industry forward,” he said.

The decision comes after Musk on Aug. 7 tweeted that he had “funding secured” to take Tesla private. Investors pushed Tesla’s shares up 11 percent in a day, boosting its valuation by $6 billion.

Lucid Motors
Electric Car

There are multiple reports that the U.S. Securities and Exchange Commission is investigating the disclosure, including asking board members what they knew about Musk’s plans. Experts say regulators likely are investigating if Musk was truthful in the tweet about having the financing set for the deal. Musk later said the Saudi Public Investment Fund would be investing in the firm, something Saudi officials never comment on.

Meanwhile Monday, the sovereign wealth fund known by the acronym PIF said it had taken its first loan, an $11 billion borrowing. It did not say how it would use the money, only describing it as going toward “general corporate purposes.”

Also Read: Electric Cars: The Newest Trend in India

The Las Vegas-based Sovereign Wealth Fund Institute estimates the Saudi fund has holdings of $250 billion. Those include a $3.5 billion stake in the ride-sharing app Uber.

Saudi Arabia’s 33-year-old Crown Prince Mohammed bin Salman has talked about using the PIF to help diversify the economy of the kingdom, which relies almost entirely on money made from its oil sales. (VOA)