Agriculture Middle East’s biggest ‘livestock city’ set for Saudi province A SAR9 billion ($2.4 billion) plan to develop the largest “livestock city” in the Middle East has been announced by the Saudi Eastern Province city of Hafr Al Batin. The project, which is expected to provide 30 percent of Saudi Arabia’s demand for red meat, was announced at the Hafr Al Batin Investment Forum 2025 […] January 10, 2025
Economy Turkish pensions increase falls short of expectations Turkey has increased payments on pensions, but observers say the latest rise does not keep up with the cost of living. On January 7 Vedat Isıkhan, the labour minister, announced that the minimum monthly state pension would be increased by 15.75 percent, taking the base rate payment to TL14,469 ($409). A second increase, forecast to […] January 8, 2025
Opinion Employment UAE and Saudi Arabia are magnets for global talent Recruiters say the region is attracting applications from global workers on an unprecedented scale January 8, 2025
Analysis Employment UAE and Kuwait companies struggling to hire staff Companies in the UAE and Kuwait are struggling to afford new staff as a result of squeezed margins, according to the latest business sentiment survey. For the third successive month, non-oil companies operating in the UAE highlighted a reduction in prices charged, with discounting used to support sales amid a highly competitive market. This was […] January 8, 2025
Employment Syrian public sector workers set for 400% pay rise The Syrian caretaker government plans to hike public sector salaries by 400 percent next month after completing an administrative restructuring, the country’s finance minister said Sunday. Public sector workers currently earn around $25 per month, putting them below the poverty line. The increase, estimated to cost 1.65 trillion Syrian pounds, or about $127 million at […] January 7, 2025
Infrastructure Iraq expects road and rail project to provide 20,000 jobs Iraq’s planned $17 billion project to build a rail line and motorway up to the border with Turkey aims to create at least 20,000 jobs for citizens, officials said. Transport minister Razzak Al-Saadawi said the Road Of Development project, which is backed by the UAE and Qatar, will include the construction of several industry cities […] January 7, 2025
Employment Number of unemployed Saudis down in Q3 2024 Unemployment among Saudi nationals fell to 7.8 percent in the third quarter of 2024 from 8.8 percent in the same period a year ago, according to state-run General Authority for Statistics data. But unemployment increased quarter on quarter from 7.1 percent. The overall unemployment rate, including expatriate workers, climbed to 3.7 percent from 3.3 percent […] January 2, 2025
Manufacturing Adnoc aims to add $54bn and thousands of jobs to UAE economy Abu Dhabi National Oil Company is looking to make investments worth AED200 billion ($54 billion) in the UAE economy over the next five years via what it calls its “in-country value programme”. The initiative is meant to ensure that Adnoc’s spending is kept inside the UAE, stimulating the economy and providing local suppliers and workers […] December 31, 2024
Analysis Economy The pros and cons for Turkey of a Syrian exodus The end of the civil war in Syria will, at least in time, offer strong economic opportunities for neighbouring Turkey, though there could also be a few unwanted costs coming as part of any peace dividend. On December 10 Turkish officials said they were developing plans to support up to 2 million of the 3.2 […] December 12, 2024
EXCLUSIVE Infrastructure Riyadh Metro aims to break Saudi capital’s car gridlock World's longest driverless system City's traffic problems growing Just 1% use public transport The first phase of Saudi Arabia’s $22.5 billion Riyadh Metro is opening on December 1, marking a significant step toward transforming public ... Register now: It’s easy and free This content is available for registered members only. Register for your free account […] November 27, 2024
Finance Bahrain arbitration court strengthens Singapore ties Bahrain is seeking to emulate the success of a Singapore-based arbitration panel by launching its own International Commercial Court. It will target ultra-high-net-worth individuals and family offices, which are private wealth management advisory firms serving multi-generational wealthy families. The specialised arbitration centre is modelled on the Singapore International Commercial Court (SICC) and is to be […] November 20, 2024
Banking & Finance Development bank targets female employment in Turkey Turkish women are to be one of the main beneficiaries of the European Bank for Reconstruction and Development’s (EBRD) latest investment strategy, through a series of initiatives to fund training, skills growth and business development in the country. In its 2024-29 strategy, released on November 12, the European lender identified four key areas that it […] November 14, 2024
Tourism Saudi Arabia promises more pilgrimage industry work visas Saudi Arabia will issue more temporary work visas to those employed in the pilgrimage industry. A statement by the ministry of human resources said Hajj and umrah work would now be included in its temporary visa programme. A half-year visa will cover the fasting month of Ramadan and the Hajj pilgrimage, which comes around three […] October 3, 2024
Employment Saudi unemployment drops again in second quarter The unemployment rate for Saudi nationals fell to 7.1 percent in the second quarter of 2024, government data shows, down from 7.6 percent in the first quarter and 8.5 percent in the same period a year ago. The overall unemployment rate, which includes expatriate workers, dropped to 3.3 percent in Q2, down from 4.1 percent […] September 30, 2024
Economy Oman to impose income tax on high earners post-2026 Oman is expected to implement its proposed personal income tax on high earners after 2026, according to a new report. In July, the Majlis al-Shura, the lower house of the Omani parliament, approved a draft law on income tax – the first of its kind in the GCC region – forwarding it to the State […] September 30, 2024
Employment UAE company boards must appoint at least one woman Private joint-stock companies in the UAE will have to appoint at least one woman to their board of directors starting from January next year, the Ministry of Economy has announced. The decision is part of the UAE’s efforts to enhance diversity in the corporate sector and increase women’s representation in leadership and decision-making roles. Abdulla […] September 19, 2024
Analysis Employment Oman’s fine line between labour localisation and growth Oman this week tightened restrictions on foreign workers’ ability to take on certain jobs in industries including real estate, construction and hospitality. In another labour law revision of this kind in the past two years authorities banned expatriates from serving in some oil and gas engineering roles, the real estate maintenance space, and as travel […] September 5, 2024
Opinion Employment GCC has an opportunity to change the retirement game Expatriates are concerned that current schemes lack comprehensive benefits September 3, 2024
Economy Saudi Arabia sets up new business park in Riyadh Saudi Arabia launched a new business park in Riyadh this week, backed by more than SAR1 billion ($270,000) in funding, in an effort to stimulate foreign investment and local job creation. The Boulevard Business Park is located in Riyadh’s Boulevard district which was recently host to the first e-sports ‘World Cup’, adding 60,000 square metres […] August 29, 2024
Analysis Employment Recruitment portals try to ease logjam in Saudi labour market Saudi Arabia presents a golden opportunity for recruitment platforms that seek to match multitudes of job seekers with a plethora of employers looking to hire, labour market specialists say. There are around 168 Public Investment Fund companies working on the $1.25 trillion Vision 2030 economic diversification programme, as well as foreign companies setting up offices […] August 26, 2024
People & Lifestyle Oman achieves 54% of 2024 employment plan in first half The Omani government has achieved 54 percent of its 2024 employment plan in the first six months, a news report said. A total of 14,074 Omanis were employed in the public and private sectors through direct employment or replacement of expatriates, the state-run Oman News Agency said citing a ministry of labour statement. The ministry […] August 18, 2024
Opinion Economy Oman’s planned income tax is an economic gamble High earning expats might be tempted to move to the sultanate's tax-free neighbours August 13, 2024