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Middle East Edition
24th September 2021
 
THE HOT STORY
PwC to create over 6,000 jobs at HQ in Riyadh
PwC is to create more than 6,000 jobs with a new regional consulting headquarters in Riyadh. Riyadh Al Najjar, KSA country senior leader, told Arab News that the organisation was encouraged by new rules that welcome international firms to Saudi Arabia, and the new base would be in accord with the Kingdom’s Vision 2030 growth plans. “We wanted to ramp up our presence in Saudi Arabia and show our continued commitment given the massive transformation happening across the government and support the execution of Vision 2030 as it happens,” he said, adding: “I think our presence in Saudi, from an HQ perspective, can attract other global firms to be in Saudi and enhance the business environment." Al Najjar also observed, citing The GCC Consulting Market 2021 report in March by Source Global Research, that “The consulting market in the GCC shrank by 12.4% to $2.68bn in 2020 due to the global pandemic, however, it is expected to grow by around 17% in 2021,” and “The Saudi market in particular fared best in the GCC during the pandemic  . . . and is expected to grow by 19% by the end of 2021.”
HIRING
Canon reveals 30% Saudi female employee target by 2023
The Saudi Arabia unit of Tokyo-headquartered global camera maker Canon says it wants 30% of its employees in the kingdom to be Saudi women by the end of 2023. The company has had this target in mind since opening offices in Riyadh, Jeddah, and Al-Khobar in 2018, but has now made the goal public. Canon has also launched a 'Women in Sales' internship program to further support the 2023 target.
CORPORATE
El Al presses for more state aid
El Al has requested $100m in compensation from the Israeli government for strict COVID-19 travel limitations that compounded the flag carrier’s financial difficulties and has urged the prime minister to help end a stalemate in bailout talks. The airline laid off 1,900 employees, or nearly one-third of its payroll, as part of a government mandated recovery plan to receive  $210m in state aid earlier in the year, and reduced its fleet to 29 from 45. But the airline has now said that was not enough. "The Israeli aviation sector is perched above a slippery slope, and there is still doubt whether Israeli aviation companies can survive the crisis without government assistance," the CEOs of El Al and two small local rivals wrote to Prime Minister Naftali Bennett. In a separate letter to the director general of the Finance Ministry, EL Al CEO Avigal Soreq said the company was "demanding immediate compensation for $100 million for damages caused to El Al due to decisions by the state."
HYBRID WORKING
'Future of Work Summit' to empower UAE firms amid the hybrid world
Microsoft is hosting an upcoming virtual summit called  ‘The Future of Hybrid Work' to empower UAE organisations and industries in navigating the hybrid world of work. The virtual summit, which takes place on October 12th, will drive thought leadership with a series of discussions around securing the hybrid workplace, seamlessly transitioning back to the office, and adapting to the digital transformation post-pandemic. Microsoft and key customers and partners such as Lulu Group International, Zand, IDC, PwC, Accenture, Ernst & Young, Poly, and Adobe will highlight many factors changing the future of hybrid work. “To succeed in the post-pandemic era, we need to fully grasp the challenges and solutions for the new hybrid work environment,” said Sayed Hashish, General Manager, Microsoft UAE. “It is critical for business leaders to not only acknowledge the drastic changes, but to call into action new strategies they need to build and implement in order to thrive in the new normal. This summit will serve as an opportune moment for leaders to embrace an agile approach, integrate innovative technology, draw and act on insights from recent studies, and unlock news ways of working.”
TRAINING & DEVELOPMENT
Saudi's ROSHN wants to create 170k jobs by 2030
Public Investment Fund-owned real estate company ROSHN has announced a leadership program Himam as part of plans to create 170,000 jobs by 2030. The leadership program will provide training of up to 24 months and aims to develop new graduates’ leadership skills to transform them into future business leaders, the Riyadh-based company said. “We believe that the basic pillar for improving business performance lies in training a new generation that possesses innovative skills and solutions to realize the Kingdom’s future objectives,” said ROSHN Group CEO David Grover.
Google to train Turkish youth
Google aims to boost the tech careers of 2,000 young people in Turkey, Industry and Technology Minister Mustafa Varank said Wednesday. An academy to train young people interested in developing mobile games and applications was launched through the cooperation of Google Turkey, Turkey Entrepreneurship Foundation and the T3 Enterprise Center, with the support of the Industry and Technology Ministry and the Presidential Digital Transformation Office.
CORPORATE GOVERNANCE
Unilever faces backlash over Ben & Jerry’s Israel boycott row
American pension funds have threatened to sell their stakes in Unilever because of the decision of its Ben & Jerry’s brand to stop selling ice cream in Israeli-occupied territories. The brand, which has become known for its corporate activism, said in July that it would end its licence in the Israel-occupied West Bank. The brand said then that “we believe it is inconsistent with our values for Ben & Jerry’s ice cream to be sold in the occupied Palestinian territory.” However, New Jersey’s $92.7bn pension fund has written to Alan Jope, the group’s chief executive, to say that it is enforcing a state law that orders the pension fund to act against companies imposing economic boycotts in Israel or in Israel-controlled territory. 
TECHNOLOGY
iPhone features aim to help detect depression and cognitive decline
Apple researchers are developing technology to help diagnose depression and cognitive decline. Sensor data around mobility, physical activity, sleep patterns, typing behavior and more could help identify digital signals associated with the target conditions so that algorithms can be created to detect them reliably. Apple has announced research collaborations with the University of California, Los Angeles, to study stress, anxiety and depression, and pharmaceutical company Biogen to study mild cognitive impairment.
INTERNATIONAL
Uber to backdate pensions for UK drivers
Uber is to pay out millions of pounds in missed pension payments to UK drivers dating back as far as 2017 under a deal with the country's retirement savings watchdog. Uber added that its private hire drivers would now be auto-enrolled on to a scheme through which it would contribute 3% of earnings into a pension pot. Drivers can choose to contribute up to 5% of qualifying earnings but will be able to opt out. Uber has been forced to pay pensions and offer other benefits such as holiday entitlement to drivers after the Supreme Court ruled in February that they should be classified as workers, not contractors. The judgment is thought likely to set a precedent for similar platforms. Mick Rix, national officer of the GMB labour union, which agreed a recognition deal with Uber in May, said: “Uber’s pension scheme is a massive step in the right direction and will no doubt help thousands of drivers as they reach retirement age. GMB urges other platform-based operators to follow Uber’s lead.”
Canada's fossil fuel workers want Trudeau to keep retraining pledge
Workers in Canada’s fossil fuel sector say they expect re-elected Prime Minister Justin Trudeau  to keep his promises to retrain them for roles in a clean-energy economy as the country restates its commitment to reach net-zero greenhouse gas emissions by 2050. Canada will need around C$10bn ($7.8bn) over 10 years to retrain fossil fuel workers, according to oil worker advocacy group Iron & Earth. Luisa Da Silva, executive director of Iron & Earth, said Canada could lose the skilled talent that will be critical to a clean energy economy if the government does not prioritise transition funding, which the 2015 Paris Climate Agreement identified as important to ensure no workers are left behind as the world decarbonises. He is sceptical about government action after past pledges failed to materialise. "At what point do these stop being promises and start being actions? These are people's livelihoods on the line," said Da Silva.
Artificial intelligence is a key challenge for Germany
Deutsche Welle reports on what Germany’s next government must do to ensure the successful integration of AI technologies in fields including mobility, health care, Industry 4.0, and environmental sustainability, noting that the country will need to become more attractive to international AI talent. In 2019, more than half of AI job vacancies in Germany could not be filled or were filled late or with less desirable candidates. Deutsche Welle says Germany is already contending with a shortage of skilled labour, and AI expertise is particularly hard to come by.  "Talent is very important both for industry and academia, for both of us," says Antonio Krüger, CEO and director of the German Research Center for Artificial Intelligence (DFKI), adding "And we need to provide environments that are very attractive to these kinds of people."
Credit Suisse poaches Deutsche banker
Deutsche Bank’s Israel Fernandez has been snapped up by Credit Suisse to lead its financial institutions group (FIG) in Europe, the Middle East and Africa. Responsibilities will be shared with Julien Lamm, according to a memo seen by Reuters, which notes that the new leadership structure comes as Switzerland’s second-largest lender seeks to fill key investment banking roles left vacant by a talent exodus earlier this year following a series of scandals that have badly damaged employee morale.
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