Good times over for expats in Saudi Arabia
Cost-cutting, drive to employ Saudis leading to retrenchments
Riyadh
SEVENTEEN years after first setting foot in Saudi Arabia, Dominic Steck shipped his two cats and returned to Germany with his wife and school-age children, who hardly know their homeland.
As Saudi Arabia steps up efforts to employ more of its own people, and with economic growth slowing, the ranks of well-paid white-collar expatriates like Mr Steck are thinning. For them, the good times are over.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
South Korea’s March factory output falls most in 15 months
Deflation reaches UK stores as non-food prices fall 0.6%
Japan’s March factory output rises 3.8% vs month earlier
Hong Kong vies with US in Bitcoin ETF market after crypto’s revival
More UK companies plan price rises but wage expectations cool: Lloyds
Campaigning EU chief von der Leyen defends record during debate