Saudi Arabia Set for 24-Hour Trading Amid Prayer Time Confusion - Bloomberg:
Saudi Arabia said it will allow some businesses to stay open 24 hours a day, an announcement that triggered puzzlement over whether it was ending rules that require shops to shut for Islam’s five daily prayers.
A cabinet decision on Tuesday permitted stores and restaurants to operate all day in exchange for paying a fee, according to the official Saudi Press Agency. The Ministry of Municipal and Rural Affairs will determine the charge, as well as which commercial activities will be affected, it said.
“This is positive news that I expect will increase consumption and create jobs,” said Mazen Al-Sudairi, head of research at Al-Rajhi Capital in Riyadh. “Fast-food restaurants, cafes and cinemas will be the primary beneficiaries.”
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