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Middle East Edition
5th May 2021
 
THE HOT STORY
Jordan's labour associations urge improvement in workers' conditions
Representatives of labour associations in Jordan say that many workers in various sectors face injustice from their employers through wage reductions and layoffs on the pretext of economic distress caused by the pandemic.  A session on the occasion of International Workers' Day, organised by the Jordan Labour Watch of the Phoenix Centre for Economics and Information Studies, heard Suleiman Jamaani, head of the independent labour associations, say that the public health emergency had come at a moment when economic conditions for workers were already challenging due to tax shortcomings and corruption in state institutions.
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STRATEGY
LG and Shaker to upgrade AC production facility in Saudi Arabia
LG Electronics (LG) and Al Hassan Ghazi Ibrahim Shaker Co. (Shaker), Saudi Arabia's leading importer, manufacturer and distributor of air conditioners (AC) and home appliances, are to deploy industrial robots and artificial intelligence (AI) technology to automate the production process and optimize operational efficiency at their newly-announced joint-venture air conditioner production facility in Riyadh. "This investment in cutting-edge production technology further cements our long-term relationship," said Shaker CEO  Mohammed Ibrahim Abunayyan. "Adopting robotics and AI in our AC manufacturing plant will enable LG-Shaker to scale up in-house production and overall capacity, giving us better control of our supply chain and enhancing our ability to serve customers in the region," said Ilhwan Lee, president of LG Electronics Middle East and Africa.
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CORPORATE
ADNOC close to hires for drilling unit IPO
Abu Dhabi National Oil Co. (ADNOC) is close to hiring JPMorgan and First Abu Dhabi Bank to manage the potential IPO of its drilling unit, Bloomberg has reported. ADNOC wants to offload a minority stake in the business in a deal that could value the company at up to $10bn, according to sources cited by Bloomberg.
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Egypt's Rafale deal will create 7,000 jobs in France
A contract signed by Egypt’s government  to purchase 30 additional Rafale fighter jets, manufactured by France's Dassault Aviation, will create the equivalent of 7,000 jobs in France over three years, said French Armed Forces minister Florence Parly. The estimated €3.75bn ($4.51bn) deal, announced by the Egyptian Defence Ministry, was confirmed by the French firm, whose shares increased by around 8%.
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HEALTH & SAFETY
Webinar focuses on Qatari workers' health and safety
Qatar’s Ministry of Public Health (MoPH) organised a webinar to mark World Day for Health & Safety at Work to consider issues around the health and safety of workers in Qatar during the pandemic. At the opening of the seminar, Dr. Asma Al Nuaimi stressed: "We should ensure that we are providing workers with the services they need to maintain their physical and mental health and wellbeing during this difficult time," going on to say: "Ensuring Occupational Safety and Health in every workplace during an emergency crisis is high priority for the State of Qatar. I believe, there is a need for more accurate and robust data collection, and data sharing for OSH that can help health policymakers develop public health response during emergency crises. We have to continue to work together for Occupational Safety and Health to contribute to the wellbeing of workers in Qatar."
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WORKFORCE
Oman extends ban on individuals coming from several countries
Oman has extended its ban, until further notice, on people coming from 14 countries: Sudan, Lebanon, South Africa, Brazil, Nigeria, Tanzania, Ghana, Guinea, Sierra Leone, Ethiopia, United Kingdom, India, Pakistan, Bangladesh. Omani citizens, diplomats, health workers and their families are excluded from the prohibition.
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REMOTE WORKING
Ericsson to launch subscription service for remote working
Swedish telecom equipment company Ericsson is launching a subscription service for remote working in North America. The service would allow employees of small businesses to start working remotely in minutes with access to licensed apps, cloud storage and security tools. Applications can be purchased from a marketplace, the platform accessed from any device, and a dedicated IT technician would not be needed to set up the system. Åsa Tamsons, Ericsson’s head of business area technologies and new businesses, noted that customers can decide which employees can get access to certain apps or capabilities.
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INTERNATIONAL
BlackRock strikes aggressive stance on ESG proxy votes
BlackRock, the world's largest asset manager, is increasing its support for shareholder-led environmental, social and governance (ESG) proposals. For the roughly 170 ESG shareholder proposals it voted on during the first half of the proxy year, BlackRock backed 91% of environmental proposals, 23% of social proposals and 26% of corporate governance proposals. “BlackRock has strongly signaled that quiet diplomacy is not the only tool in its toolbox,” said Rich Fields, a partner at law firm King & Spalding who focuses on corporate governance issues. “We expect more votes for shareholder proposals and against directors in this and future years.” BlackRock’s initiatives are part of a broader push by Wall Street—institutional investors, money managers and banks—to wield influence through their investments. The FT nevertheless reports this morning that BlackRock has been accused of inconsistency in its approach to sustainable investing over its backing of a shareholder protest against Procter & Gamble’s sourcing of palm oil.
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Goldman to bring US and UK bankers back to the office in June
Goldman Sachs has told its bankers in the US and UK that they should be ready to return to the office next month in a move that makes the New York lender one of Wall Street’s first major banks to recall employees. “We know from experience that our culture of collaboration, innovation and apprenticeship thrives when our people come together, and we look forward to having more of our colleagues back in the office so that they can experience that once again on a regular basis,” said a staff memo signed by the bank’s three most senior executives, including chief executive David Solomon. The message said that, “in the US, we ask those who have not yet done so to make plans to be in a position to return to the office by Monday, June 14.” The bank wants its British employees to be prepared to return to physical locations by June 21.
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Norwegian cuts 1,200 jobs in Spain
Norwegian is to cut 85% of its staff in Spain. Around 1,200 cabin crew will lose their jobs as part of the airline's restructuring. Alfons Claver, the carrier's communications manager in Spain, confirmed the plans to Dagens Næringsliv (DN). “This does not only apply to Spain. With different timing and different legal systems and local dynamics, the downsizing has already taken place in countries where we used to operate,” he said. Three of Norwegian's five bases in Spain will be cut, but the low-cost airline will retain bases in Malaga and Alicante.  The USO union described the cuts as “brutal.”
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