RIYADH: Al-Hilal manager Jorge Jesus declared 2023/24 “a spectacular season” after the club claimed their 19th Saudi Pro League championship with a 4-1 victory over Al-Hazem on Saturday night.

Twelve points ahead of Riyadh rivals and nearest Roshn Saudi League challengers Al-Nassr, the title was won with three games to spare. Unbeaten domestically this season, with 29 wins from 31 league matches, Al-Hilal also created world football history earlier in the campaign by winning 34 matches in succession across all competitions.

“The Al-Hilal team this season has made a spectacular season. What we have achieved is an example for all the others because if we see all the details then we are the best in goalscoring, best in fewest goals conceded, no losses in the league and obviously the most points,” Jesus said in a statement released by the club.

“We are the Super Cup winners, in the semifinal (sic) of the King’s Cup and have won the league. We only failed in the Asian Champions League, in the semifinal, but if we speak about the Saudi level then winning the King’s Cup will mean we have won everything available this season in Saudi.

“That’s my habit wherever I’ve been — with Flamengo in Brazil I did this, with Benfica in Portugal I did this and now at Al-Hilal this can be achieved. We prepared to do this from the beginning of the season — but we have had to do this missing key players — Neymar for most of the time, Mitrovic for some of the time. But I have the notion that the Saudi league will grow better and better every time.”

All of the goals in Al-Hilal win over Al-Hazem at the Prince Faisal bin Fahd Stadium came in the first half.

Mitrovic gave his side the lead from the penalty spot in the 15th minute, striking low into the bottom corner. Faiz Selemani equalized through a well-taken curling shot only for Aljuwayd to then loft into his own net from the edge of the box trying to pass back to the goalkeeper after being put under pressure by Milinkovic-Savic.

Al-Hilal’s Serbian duo completed the scoring in injury time. Firstly, Mitrovic tucked home his compatriot’s cut back and then Milinkovic-Savic curled into the bottom corner for 4-1.

Al-Hazem coach Saleh Al-Mohammadi, whose side remain bottom of the 18-team league, said: “Al-Hilal are a very strong team. Because of individual mistakes we lost the game. If you don’t play well against the champions of the league then that will happen.”

Ahead of Al-Hilal’s next game, Portuguese coach Jesus warned compatriot Cristiano Ronaldo’s team Al-Nassr not to expect a weakened side at Al-Awwal Park on Friday in the second Riyadh derby of the season. Al-Hilal won the first clash 3-0 in December.

The two teams will also contest the King’s Cup final at the end of the season and Jesus said his side were preparing hard for the clash.

“Preparing is not by giving rest,” he said. “We still have more titles and work for the players. Every match is important for us.”

RIYADH: Remittances by expatriates in Saudi Arabia grew 28 percent in March as compared to the preceding month to reach SR11.96 billion ($3.2 billion), the highest since 2022, official data showed.

The launching of new development projects in the Kingdom has led to an increase in the expatriate population, as they actively contribute to the growth of business activities. This, in turn, may have influenced their remittance patterns.

This growth in remittances is also exemplified by the Regional Headquarters Program, which has successfully attracted over 200 companies from across the globe to obtain licenses to set up their regional bases in Saudi Arabia.

These entities are driven by the prospect of securing lucrative government contracts. Additionally, the ongoing structural reforms to enhance foreign direct investment have further stimulated business growth in the Kingdom. 

Alongside regulatory reform, Saudi Arabia has undergone modernization in its legal governance and enforcement practices such as digitization of employment contracts, virtual court hearings, and provision of online government services. These initiatives are integral components of a broader set of reforms aimed at positioning the Kingdom as one of the leading nations in terms of ease of doing business.

However, on a quarterly basis, there was a 0.34 percent decrease in expat remittances compared to the same period last year. This trend can be attributed to Saudi Arabia’s evolving economic landscape, particularly the implementation of financial sector reforms, which are increasingly enticing residents to invest a portion of their earnings within the Kingdom.

In February of this year, a report by Jadwa Investment noted that workers’ remittances were unexpectedly low despite the influx of expatriates.

This phenomenon according to their report may suggest that some expatriates opted to capitalize on the high savings rates in the Kingdom instead of remitting funds home.

The Saudi Central Bank, also known as SAMA, has raised key policy rates multiple times in 2022 and 2023, given that the Saudi currency is pegged to the dollar. This move aligns with the actions taken by the US Federal Reserve, which has been gradually increasing interest rates as part of its strategy to address inflationary pressures.

Conversely, remittances from Saudis saw a 9 percent monthly increase, totaling SR5.11 billion, yet experienced a quarterly decline of 0.53 percent.

The occurrence of Ramadan in March this year likely influenced the increase in Saudi remittances for this month. During this holy month, individuals often engage in increased charity, support their families, and fulfill religious obligations, such as zakat.