Opinion People & Lifestyle The world is moving to Saudi Arabia The kingdom could supplant the UAE as the GCC destination of choice for both tourists and migrants January 16, 2024
Employment New Saudi visas aim to lure ‘high-wealth investors’ Saudi Arabia’s new long-term residency visas is at attracting “high-wealth investors” to the kingdom, though it may hinder the nurturing of local talent, some analysts have warned. The updated “premium residency” options are designed to lure top global talent to Saudi Arabia as it continues its billion-dollar transformation from a hydrocarbon-based economy. The visas cover […] January 11, 2024
Employment Gulf’s ESG uptake hindered by lack of expertise The Gulf has seen a rise in green bonds and funds, but awareness of environmental, social and corporate governance (ESG) reporting and the infrastructure to carry it out is lagging the rest of the world, a leading industry expert says. A survey from the consultancy PwC Middle East revealed that 64 percent of respondents in […] January 3, 2024
Manufacturing Demand fuels price rises in Saudi Arabia’s non-oil sector A surge in demand towards the end of the year saw non-oil companies in Saudi Arabia increase prices for the second month in a row in December. Manufacturing was the standout industry. “A number of firms signalled that increased demand momentum gave them greater confidence to pass on higher input costs to customers,” according to […] January 3, 2024
Employment ‘No loopholes for companies’ to be found in Saudi HQ rules Multinational companies looking for loopholes in Saudi Arabia’s regional headquarters rules will not find them, although the exceptions set out in the small print could affect negotiations, business relocation experts have told AGBI. As of Monday, foreign companies looking to gain access to billions of dollars worth of government contracts must have their regional headquarters […] January 3, 2024
People & Lifestyle Unemployment rate among Saudis climbs to 8.6% The unemployment rate among Saudi citizens rose marginally to 8.6 percent in the third quarter of 2023 from 8.3 percent in the previous quarter, according to data from the General Authority for Statistics. The rate was down from 9.9 percent in the third quarter of 2022. The overall unemployment rate, including Saudis and non-Saudis, reached […] December 29, 2023
Media & Advertising Coming to a movie theatre near you … AlUla It would make the perfect setting for Star Wars or Indiana Jones, but AlUla is developing production facilities that will expand its reach beyond sci-fi and desert adventure movies, making it one of the region’s prime locations for international shoots. The tourist location in northwest Saudi Arabia is fast developing into a mini-city with an […] December 24, 2023
Opinion Employment Women are integral to Oman vision: now to bring them in Omani women are highly educated, so why aren’t they represented in the workplace? December 21, 2023
Tourism Expo 2030 to create 250,000 jobs, Saudi minister says Saudi Arabia will generate 250,000 jobs during its hosting of Expo 2030 in Riyadh, tourism minister Ahmed Al Khateeb said. The kingdom will add 1,000 hotel rooms for the mega event, the state-run Saudi Press Agency reported, citing the minister’s speech at the Global Labor Market Conference in Riyadh. Riyadh beat off bids from Busan […] December 14, 2023
Opinion Tech Tech without soft skills is a half-baked strategy A successful digital future depends on the human touch December 12, 2023
Employment Turkey’s unemployment rate at lowest level in 11 years The unemployment rate in Turkey fell to 8.5 percent in October, down 0.5 percentage points month on month, its lowest level since November 2012. The number of unemployed persons (15 years old and over) decreased by 163,000 to 2.96 million month on month. The rate was estimated at seven percent for men and 11.3 percent […] December 12, 2023
Opinion Employment Get creative to lure workers back to the office The look and feel of agency offices can help define the work that comes out of them December 11, 2023
Opinion Employment Clocking off: the pros and cons of a four-day week A shorter working week can boost productivity but will companies take the plunge? December 7, 2023
Trade Saudi offers 30-year tax breaks under regional HQ scheme Saudi Arabia will offer a 30-year corporate income tax exemption to foreign companies that locate their regional headquarters to the kingdom. In 2021, the government set a target of January 1, 2024, for companies to set up in the kingdom, the world’s top oil exporter, to gain access to government contracts worth SAR1 million ($266,000) […] December 6, 2023
Banking & Finance Brevan Howard to double Abu Dhabi headcount Brevan Howard, one of the world’s biggest hedge funds with assets exceeding $33 billion, is to double its workforce in Abu Dhabi next year. The UK company initiated its Middle East expansion by opening an office in Abu Dhabi Global Market in February, joining an increasing number of hedge funds drawn to the region’s substantial […] November 29, 2023
Employment Saudisation push leads to half a million jobs since launch Saudi Arabia has found work for 176,000 nationals over the past 12 months, through a programme set up two years ago to promote Saudisation – requiring companies to hire Saudi nationals for jobs in the private sector. This figure is likely to increase following a government announcement this week that Saudi nationals can now hold […] November 29, 2023
Opinion Renewable Energy The GCC needs to make green upskilling a priority A speedy and successful energy transition needs a retrained workforce – Gulf leaders must act now November 28, 2023
Employment More women join UAE boards, but progress ‘still slow’ When Maha Abdul Majeed Ismail Ali Al Fahim joined the board of Islamic Arab Insurance Company this year, she became part of a growing trend. Women made up 23 percent of appointments to UAE boards in 2022, from just 12 percent in 2020, according to executive search company Heidrick & Struggles. But campaigners in the Gulf […] November 27, 2023
People & Lifestyle Majid Al Futtaim to expand flexible workspace locations Dubai-headquartered Majid Al Futtaim and IWG, a Swiss-based flexible workspace provider, will open five Regus and Spaces locations in the UAE, Oman and Egypt. The sites will open in the Mall of Egypt, City Centre Qurum, City Centre Sohar, City Centre Me’aisem and City Centre Deira. The new workspaces will add almost 7,000 sq m […] November 24, 2023
Employment Turkey’s unemployment rate falls for third straight quarter The unemployment rate in Turkey has continued to fall in the third quarter of 2023 to 9.2 percent, down 0.5 percentage points quarter on quarter, the country’s statistical authority said. The unemployment rate stood at 10 percent in the same quarter last year, Daily Sabah newspaper reported, citing Turkish Statistical Institute (TurkStat) data. The number […] November 20, 2023
Opinion Economy Assessing Saudi Arabia’s Vision 2030 progress The non-oil private sector is a driving force for economic transformation November 16, 2023
Employment 54,000 Emiratis took up private sector roles in last two years The UAE Ministry of Human Resources and Emiratisation (MoHRE) has called upon the private sector to expedite its efforts to meet 2023 Emiratisation targets before the end of the year. The call is for private sector establishments employing 50 or more workers, the UAE state-run Wam news agency said, citing a ministry statement. Over 84,000 […] November 14, 2023
