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King of Saudi Arabia assisting stranded Indian workers: Sushma Swaraj

Some 7,700 Indian workers employed with a company in Saudi Arabia are facing a financial crisis after it shut down and laid off workers

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source-www.news18.com
On August 4, Thursday, External Affairs Minister Sushma Swaraj said the King of Saudi Arabia has given instructions to help the thousands of Indian workers stuck in the Gulf kingdom, including giving them free passage back home.
The minister informed the Rajya Sabha that the Saudi King has instructed his officials to resolve the crisis faced by Indians.
“The Saudi King has instructed his officials to solve the problem in two days. General (Retd) VK Singh is there. He met the Labour Minister there on Wednesday, he said instructions have been given to give the Indian worker’s exit visa; they will send them back in their own flights, at their own expense,” Sushma Swaraj toldRajya Sabha.
“They have also permitted that those who are found suitable may be given another job,” she said.

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Regarding the dues of workers, the minister said: “Every worker will file their claim with the labour office, and the claims will be settled even after they come back.”

She also said the Saudi administration was arranging for providing food and other assistance to the camps where Indians were lodged.
Prime minister Narendra Modi meets business leaders in Saudi Arabia. Image source: www.governancenow.com
Prime minister Narendra Modi meets business leaders in Saudi Arabia. Image source: www.governancenow.com
“Besides, they offered to arrange for medical care, food, and sanitation in the camps where Indians are,” she said.
The minister thanked the Saudi King for the assistance.
She said: “I want to thank Saudi rulers on behalf of India and the House. I also thank the Prime Minister. This is happening because of the relations he made during his visit to Saudi Arabia.”

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The leader of Opposition Ghulam Nabi Azad also welcomed the move. “This is a very good thing. we must thank them on behalf of people of India,” he said.

Some 7,700 Indian workers employed with a company in Saudi Arabia are facing a financial crisis after it shut down and laid off workers. Minister of State for External Affairs VK Singh is in Riyadh to sort out the problem, including arranging to bring back those workers who want to return. (IANS)

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  • AJ Krish

    The Indians stranded in Saudi need to be brought back to the country. We need to take care of our own people wherever they are.

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Know About the Concern Over Fluctuating Oil Prices due to Coronavirus Outbreak

Global Stock Markets Plummet on Oil Price Drop, Coronavirus Fears

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Oil prices
Stock markets plummeted across the world, plunging on dual concerns over oil prices and the economic effects of the coronavirus. Pixabay

By Ken Bredemeier

Stock markets plummeted across the world Monday, plunging on dual concerns over oil prices and the economic effects of the coronavirus that has spread to more than 100 countries. This is a breaking news.

Key exchanges in New York fell more than 7% Monday, following a 5% drop in some Asian markets, while European markets closed down about 8%.

The widely watched Dow Jones Industrial Average of 30 key U.S. stocks closed down more than 2,000 points Monday for a loss of 7.9% while the S&P 500 fell 7.6%.

The steep decline at the New York Stock Exchange triggered an automatic 15-minute halt in trading to temporarily limit losses to 7%, a provision last employed in December 2008 in the depths of the recession.

Investors were spooked by plunging oil prices, with Brent crude, the world benchmark, falling more than 24% to $34.36 a barrel, on top of the coronavirus fears sweeping the globe. U.S. oil prices for West Texas Intermediate, a Texas light sweet crude, dropped nearly 25% to $31.13 a barrel.

The world prices of oil fell on fears that Saudi Arabia, launching a price war with one-time ally Russia, would flood the world market with oil in a bid to regain market share.

The plunge in oil prices was the worst since the Gulf War in 1991. Strategists at Goldman Sachs Group Inc. warned oil prices could fall into the $20s.

Oil prices
U.S. oil prices for West Texas Intermediate, a Texas light sweet crude, dropped nearly 25% to $31.13 a barrel. Pixabay

Volatility has consumed markets around the world amid the coronavirus outbreak that has infected more than 108,000 people and killed more than 3,800 people. At least 10 billion shares have traded on U.S. exchanges each day for two weeks.

U.S. stocks are now down 19% from a peak they reached last month.

U.S. President Donald Trump offered his rosy assessment of the stock market plunge and dropping oil prices, saying on Twitter, “Good for the consumer, gasoline prices coming down!”

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More broadly, he laid the blame for falling stock prices: “Saudi Arabia and Russia are arguing over the price and flow of oil. That, and the Fake News, is the reason for the market drop!” (VOA)