Thursday, October 18, 2018

May 24 18, 2:33 pm

Own a Mitsubishi today with the Ultimate Mitsubishi Offer!

Filipinos who are searching a great car for an even greater value need not look further: The Ultimate Mitsubishi offer from Al Habtoor Motors will give them a range of options of Mitsubishi cars and SUV’s with a rock-bottom interest rate of 1.99% for 5 years – a...

Work-from-home bill targets work-life balance in PH private sector

The Telecommuting Act of 2017, popularly known as the work-from-home bill, is now awaiting President Rodrigo Duterte’s signature after the Senate approval. “In the bicam report ratified by both Houses of Congress, telecommuting—a work arrangement that allows an...

Prices of 22K, 21K, 18K gold decline

The prices of 22 carat, 21 carat, and 18 carat gold went down further in the UAE on Thursday, October 18. Dubai Gold & Jewellery Group’s update shows that the prices of 22K, 21K, and 18K gold all went down from yesterday’s rate. Yesterday, 22K, 21K, and 18K were...

PH secures deal with Saudi firm to release unpaid salary of 1400 OFWs

Overseas Workers Welfare Administration have secured a written deal with Saudi-based construction firm Azmeel Contracting Corporation for the release of the unpaid salaries of its more than 1,400 Filipino workers. "Nagkaroon po ng written agreement in terms of...

Saudi to gradually replace Riyal notes with coins

by | News

Saudi Arabian Monetary Agency (SAMA) announced the gradual replacement of Riyal notes with coins in the country.

The agency said that they will be slowly withdrawing Riyal notes until they are no longer in circulation.

Authorities at SAMA said the move will be done for several reasons, including ease of recycling of coins compared to notes, longer life expectancy of coins, and greater resilience to counterfeiting, reported media company Xinhua, citing reports from local news site Sabq.

“The existence of the paper riyal in circulation caused the metal to not sell and its rejection by traders, which in turn led to the lack of care of the owners of shops to provide coins,” SAMA said in Arabic.

“The average life expectancy of a coin is estimated from 20-25 years, compared to the life expectancy of the paper currency, which is estimated between 12 months and 18 months depending on the conditions of circulation,” the agency added.

The replacement of notes with coins is in line with the Saudi government’s plan to promote business efficiency geared towards the country’s economic growth.

Measures taken by SAMA for the gradual replacement of Riyal notes with coins includes allocation of sorting and counting machines for easier money dealings.

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THE FILIPINO TIMES is the biggest and most trusted Filipino newspaper in the UAE.

It has a print run of 60,000 copies and 250,000 readership per week; bolstered by 1 million visitors to its website every month. It also has an e-newsletter sent to its 250,000 subscribers every day.

The Filipino Times is FREE and has the widest targeted circulation across the 7 emirates of the UAE.

With more than 2,500 strategic distribution spots, TFT is available where the Filipinos are - at Smart Bus Shelters, Metro Stations, restaurants, supermarkets, schools, airport lounges, Emirates and Etihad Philippine-bound flights, churches, Filipino community events and many more.

THE FILIPINO TIMES. We are where the Filipinos are.

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