Analysis Employment Abu Dhabi court rulings strengthen UAE arbitration Recent court rulings in Abu Dhabi further tighten the UAE’s embrace of arbitration as the go-to mechanism to resolve commercial disputes, according to industry attorneys. Arbitration in the emirates has gone through a “groundbreaking” evolution ever since the Dubai ruler, Sheikh Mohammed bin Rashid Al Maktoum, issued Decree number 34 in September 2021, closing the […] July 2, 2024
People & Lifestyle World Bank to support Jordan’s social sectors The World Bank has approved $700 million programmes to support Jordan’s health, education and social assistance sectors. The $300 million Jordan human capital programme aims to improve the governance and effectiveness of social sectors, as well as safeguard households from the adverse effects of climate change. In addition, the $400 million Masar programme will equip […] July 2, 2024
Employment Saudi unemployment rate falls to 7.6% The unemployment rate among Saudi nationals fell to 7.6 percent in the first quarter of 2024 from 8.7 percent a year ago, official data showed. The quarterly unemployment rate was down from 7.8 percent in the fourth quarter of 2023, according to the General Authority for Statistics labour force survey. The employment-to-population ratio rose to […] July 1, 2024
EXCLUSIVE Tech Aramco adopts heat-sensing construction helmets Saudi Aramco is deploying advanced safety helmets equipped with heat stress sensors to protect workers on some of its construction sites, a critical concern in the Gulf region’s scorching climate. The helmets, developed by Dubai and Saudi Arabia-based construction tech startup WakeCap, utilise internet-of-things (IoT) technology that monitors worker attendance, location, and safety incidents in […] June 23, 2024
Employment Unemployment rate falls in Turkey but warnings persist Turkish unemployment levels fell to their lowest rate in more than 11 years in April, helped by strong first-quarter growth. However, troubling longer-term prospects could mean job queues lengthen again. Turkey’s headline unemployment rate, covering those aged 15 and over, fell to 8.5 percent in April, the lowest since November 2012 and down from 10 […] June 11, 2024
Opinion Employment Private sector may not solve Oman’s rise in unemployment Less pay and longer working hours are not something young graduates are very keen on June 11, 2024
Analysis Real Estate Flexibility and amenities key to UAE office sector’s future As workers globally grow resistant to spending all week at their desks, even the UAE’s strong-performing office sector must rethink its offering to meet shifting demand, industry professionals have told AGBI. “Since the pandemic, people have realised that the workplace has changed for ever. We are not going back to working in the office 80 […] May 27, 2024
Analysis Real Estate UAE offices in demand – in contrast to the West Offices in the UAE are outperforming Western equivalents, with a steady influx of foreign businesses and local developers’ preference for residential projects. “The need for more Grade A office space is becoming increasingly urgent,” Behnam Bargh, managing director at real estate agency CRC, told AGBI. “Addressing this issue will be crucial for maintaining the country’s […] May 24, 2024
Analysis Employment UAE leads GCC on board gender mix but region still lags More than 10 percent of board seats at listed companies in the UAE are filled by women, well ahead of its Gulf neighbours, but still lagging the global average. At the 168 companies listed on the Abu Dhabi Securities Exchange and Dubai Financial Market, just 133 out of 1,231 board seats, or 10.8 percent, are […] May 3, 2024
Employment Remittances from UAE to Bangladesh surge 48% Remittances from the UAE to Bangladesh surged 48 percent year on year to $3.3 billion in the first nine months of fiscal year 2023-24, according to data from the country’s central bank. Dhaka receives remittances between $250 million to $300 million per month from the UAE, The Business Standard, a financial newspaper, reported. However, remittances […] April 23, 2024
Banking and Finance Saudi fund agrees $67m deal to support Omani SMEs The Saudi Fund for Development in Oman has signed an OR 25 million ($67 million) deal with the Oman Development Bank to finance startups and create more jobs for the sultanate’s youth. The agreement is part of a wider $150 million package of support provided by the Saudi government through the fund, which offers loans […] April 22, 2024
Employment Jobless rate in Turkey edges back towards 10-year low Turkey’s unemployment rate fell 0.3 percentage points month on month in February, to 8.7 percent, according to official data released on Monday. The seasonally adjusted figure is edging back down towards the 8.6 percent recorded in October last year, the lowest for a decade. The unemployment rate for women was 11.3 percent in February, down […] April 15, 2024
Employment Saudi Arabia will pay costs of normalising migrants’ status Saudi Arabia said this week it will take on the costs of normalising the status of displaced individuals from neighbouring countries in what could amount to amnesty for thousands of illegal migrants and refugees. “The state assumes the costs on behalf of individuals permitted to stay and rectify their status among the displaced from neighbouring […] April 3, 2024
Employment Saudi Arabia steps up Saudisation job drive Saudi Arabia’s government said this week that jobs in human resources (HR) in the kingdom are now restricted to Saudi nationals only. It is another step in the country’s plan to localise skilled jobs and reduce unemployment. The ministry of human resources made the statement on social media site X, formerly Twitter, in response to […] March 29, 2024
Employment Saudi Arabia unemployment fell in Q4 2023 Unemployment among Saudi Arabian nationals fell to 7.7 percent in the fourth quarter of 2023, from 8 percent during the same period in 2022, the government said this week, reflecting the growth of the non-oil sector despite an economic contraction. Unemployment among Saudi males was 4.6 percent, which was up from 4.2 percent the year […] March 28, 2024
Employment Bahrain launches minimum wage fund to bolster youth Lawmakers in Bahrain are to spend over BD200 million ($500 million) to lift the minimum wage of the kingdom’s citizens. The government hopes it will encourage more youth into the working world and stimulate the country’s economy. The initiative, run by Bahrain’s Labour Fund, which is also known as Tamkeen, received unanimous approval from the […] March 28, 2024
Economy Qatar woos foreign talent with 5-year residency permit Qatar has launched a residency permit aimed at attracting talented individuals and entrepreneurs. The permit programme, which is expected to open in the next few months, offers five-year renewable residencies to people with expertise in specific fields including the arts and scientific research. Applicants must either have a job offer in Qatar or demonstrate financial […] March 27, 2024
Analysis Employment Alstom breaks mould as Gulf lags on hiring women as CEOs Dalya Al Muthanna is a member of an exclusive club. In January she became Gulf CEO for the transport giant Alstom, the company behind tram systems in Dubai and Qatar. She was previously a senior executive at GE in the UAE, bucking the trend of men dominating senior C-suite jobs in the Gulf. Just 5 […] March 8, 2024
Employment UAE to invest $1.7bn to place more Emiratis in private sector jobs The UAE is aiming to add 36,000 Emiratis to the private sector workforce this year and has approved a $1.7 billion budget to support Emiratisation. The number of UAE nationals working in the private sector was about 92,000 by the end of 2023, according to the Emirati Talent Competitiveness Council. Nearly 42,000 joined private businesses […] March 6, 2024
Food & Drink Kuwait’s Alshaya lays off Mena Starbucks staff Kuwait’s Alshaya Group, one of the Gulf’s largest franchise owners, is cutting jobs at its Starbucks outlets. The coffee brand has suffered from calls for a boycott since the start of the Gaza conflict. “As a result of the continually challenging trading conditions over the last six months, we have taken the sad and very […] March 5, 2024
Banking and Finance Saudi remittances fall as expats invest domestically Expatriate remittances from Saudi Arabia have fallen over the past two years, despite a rise in the number of overseas workers needed to develop the kingdom’s slate of huge giga-projects. Some experts have predicted the slump in funds sent back home could be as a result of improved investment opportunities inside the kingdom. Yearly remittances […] February 22, 2024
Opinion Education Saudi Arabia needs a sea change in higher education Newer fields of study must be encouraged to meet employment market demands February 12, 2024
