Banking & 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 & 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
Employment Morocco job market hit by rise in rural unemployment Morocco’s unemployment rate increased by 13 percent to nearly 1.6 million last year as the country’s rural areas haemorrhaged jobs. Between 2022 and 2023, the national economy lost 157,000 jobs, according to the latest figures from the Higher Commission of Planning. Although urban areas recorded an increase of 41,000 jobs, employment in rural parts of […] February 7, 2024
People & Lifestyle Kuwait and Bahrain propose changes to working week Lawmakers in Kuwait and Bahrain are pushing for major amendments to the working week, aiming to improve workers’ rights and boost the work-life balance in the two Gulf states. In Bahrain, the focus is on extending the weekend to three days: Friday, Saturday and Sunday. “There is an urgent need to keep pace with global […] January 29, 2024
Employment Dubai’s $136m boost to drive global growth of SMEs Dubai has allocated AED500 million ($136.13 million) to support small and medium-sized enterprises (SMEs) with ambitions to scale up globally. The initiative was launched in partnership with Emirates NBD, the UAE state-run Wam news agency reported. The Dubai international growth initiative will support the global expansion of SMEs founded in the emirate, Dubai Crown Prince […] January 29, 2024
Employment Dubai launches small business plan to support Emirati retirees Retired emiratis are being incentivised to run their own companies after the launch of the Dubai Retiree Projects Support programme this week. The scheme is part of the Dubai Social Agenda 33, which aims to create a more proactive social system. Benefits include priority for government contracts, financing of future projects, exemption from service fees […] January 26, 2024
Opinion Aviation A cabin crew shortage could mean higher ticket prices Rapid expansion with high levels of staff attrition mean airlines are locked in a hiring battle January 26, 2024
Employment UAE reverses stance on diversity rule for visas The UAE Ministry of Human Resources and Emiratisation has reversed its stance on a demographic diversity rule, previously cited by companies as the cause for multiple work visa rejections based on nationality. The policy is still expected to be implemented at a later date. AGBI recently reported that businesses in the UAE were encountering difficulties […] January 25, 2024
Aviation Saudi will top Gulf business travel chart, says Wego boss Business travel to and from Saudi Arabia is expected to surpass neighbouring UAE, according to the CEO and co-founder of online travel marketplace Wego. As of the start of this month, foreign companies hoping to gain access to billions of dollars worth of government contracts must have their regional headquarters in Riyadh. The regional HQ […] January 25, 2024
Video length: 06:59 Employment UAE diversity law causing visa issues for businesses UAE businesses are encountering difficulties getting work visas for new employees of South Asian nationalities following the enforcement of a government directive to boost diversity in the workforce. Abeer Al Husseini, a Dubai-based partner at immigration law practice Fragomen, told AGBI that the Ministry of Human Resources and Emiratisation has “reinstated” its demographic diversification regulation. […] January 19, 2024
Opinion Employment Gulf must pioneer on pension reform There is a unique opportunity to set a new global standard in retirement savings January 18, 2024
Opinion Employment The five trends defining Dubai’s business landscape This year presents an opportunity for employers to explore an untapped talent pool January 18, 2024