Video Middle East tech sector’s hire and fire conundrum By Shruthi Nair April 20, 2023, 9:44 AM The mass layoffs in the global tech sector last year were the highest since the dot-com bubble burst in 2001, but they are not necessarily a reflection of the job market globally or in the Middle East, according to a Dubai-based digital transformation and Web3 expert. “The layoffs only constitute 10 percent of all the people that were hired during Covid-19,” said Jeremy Denisty, co-founder of Imagin3 Studio. Mena-based employees from companies including Meta, Amazon, Google and Accenture were laid off but a shortage of tech talent has been the biggest concern in the region. UAE sees strongest job growth since 2016 Tech and tax jobs fuel UAE’s strongest job growth in 6 years Meta cuts 11,000 jobs as it sinks more money into the metaverse A survey by PwC revealed that 75 percent of the employees in Kuwait, 60 percent in Qatar, 58 percent in Saudi Arabia and 46 percent in the UAE believed their country had a shortage of people with specialised skills. Will the layoffs in the West create an opportunity for tech job seekers to come to this region to bridge the talent gap? Watch the video above to find out.
Finance Jordan to get $131m under IMF’s finance programme Jordan will receive $131 million from the International Monetary Fund (IMF) under its $1.2 billion extended fund facility programme (EEF). The four-year programme, approved in January 2024, remains on track, the IMF said in a statement following the completion of a second review. Jordan’s economy continues to grow amid low inflation, the fund said, adding […] 3 hours ago
Leisure & Hospitality Hilton set to triple Egypt presence with new brands Hilton is set to triple its presence in Egypt, increasing the number of hotels to 25 and expanding its footprint to more than 40 properties over the coming years. The expansion includes the opening of its lifestyle brand, Tapestry Collection, on the African continent, as well as Egypt’s first Curio Collection and a resort under […] 2 hours ago
Trade UAE finalises trade deal with five-nation EAEU bloc The UAE has finalised an economic agreement with the Eurasian Economic Union (EAEU) that will reduce or remove tariffs and eliminate technical barriers to trade with five countries. The economic partnership agreement with the EAEU, made up of Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia, will align customs procedures and harmonise digital trade and ecommerce, UAE […] 13 hours ago
Oil & Gas Conflict hampering Mediterranean operations, says Chevron CEO US energy major Chevron has struggled to keep natural gas production online in the Eastern Mediterranean during the conflict in the Middle East, according to its chairman and chief executive Mike Wirth. Chevron is the largest producer of natural gas for Israel, in particular through two “large” offshore platforms, Tamar and Leviathan, that also supply […] 14 hours ago
