The latest business Intelligence for HR professionals and people managers everywhere
Sign UpOnline Version
Middle East Edition
19th April 2024
 
THE HOT STORY
UAE private sector employees demand remote work options amid unstable weather
Private sector employees in the UAE are calling on their employers to provide remote work options during heavy rainfall and unstable weather conditions. Despite the Ministry of Human Resources and Emiratisation's recommendation for prioritising employee safety, some employees were still required to commute to their offices. Professionals who rely on in-person meetings expressed the need for flexibility in the private sector to accommodate such situations. However, healthcare workers and roles that require physical presence are unable to work remotely. Social media posts highlighted the dissatisfaction of private sector workers who had to travel to work in hazardous weather conditions. While remote work has been widely implemented in government entities, exceptions exist for roles that necessitate physical presence.
WORKFORCE
Google fires 28 employees over protest against Israeli contract
Google has fired 28 employees who participated in a sit-in protest against the tech giant's contract with the Israeli government. The protest, organised by the group No Tech for Apartheid, took place at Google offices in California and New York. Video footage showed police arresting employees in the office of Google Cloud CEO Thomas Kurian. Google stated that physically impeding employees and preventing them from accessing company facilities was a violation of company policies. Google has denied that the contract is related to weapons or intelligence services. Google CEO Sundar Pichai had warned employees about disrupting co-workers or using the company as a personal platform. No Tech for Apartheid accused Google of retaliation and claimed that the fired employees had not directly participated in the protests. The group also denied allegations of property damage and threats to other workers.
STRATEGY
ExodusPoint hires portfolio managers in Dubai
ExodusPoint, the multistrategy hedge fund, has hired three portfolio managers in Dubai as part of its expansion in the Middle Eastern business hub. Valery Ivanov, formerly of Point72 Asset Management, joins as an equity long/short manager focused on the consumer sector. Omar Soomro, previously with Garda Capital Partners and Moore Capital Management, will be a portfolio manager trading emerging markets. Rob Kitchen, who was most recently at Amia Capital, will trade macro strategy. Dubai has become a magnet for hedge funds in recent years, with firms like Millennium Management and BlueCrest expanding their operations in the city. Abu Dhabi, which manages over $1 trillion in sovereign wealth, has also attracted big names in the industry. ExodusPoint, which manages around $12 billion, set up in Dubai in 2022 and has been expanding its trading strategies.
HIRING
Over 28,000 Saudis join employment for first time in March
Over 28,000 Saudis joined employment for the first time in March, according to the Saudi National Labour Observatory (NLO). The total number of employees in the Saudi private sector reached 11.2 million, with 2.36 million Saudi workers and 975,721 females. The number of expatriates employed in the sector in March was 8.87 million. Saudi Arabia has been implementing initiatives to employ its nationals and replace foreign workers in various fields as part of its "Saudisation" labour policy. The country has also recently localised insurance sales jobs and restricted human resources jobs to Saudi nationals. The kingdom aims to diversify its oil-reliant economy through development schemes.
TRAINING & DEVELOPMENT
Deloitte Middle East seeks to empower national talent
Deloitte Middle East has launched the Kiyadat Centre of Excellence, aimed at empowering national talent in the Gulf Cooperation Council (GCC) region. The centre will provide support for the development of youth and professional leaders, offering sustainable career paths within and beyond Deloitte. The Kiyadat initiatives include establishing the Deloitte National Youth Councils in each GCC country, as well as professional development programmes and internships. The centre will be governed by the Deloitte Kiyadat Advisory Council, which includes senior partners from across the region. The council aims to empower national talent and foster an ecosystem conducive to their long-term success. "Kiyadat reflects Deloitte’s dedication to growing and advancing men and women in the GCC to assume professional leadership positions," said a council member.
REMOTE WORKING
Nike CEO blames remote working for sales slump
The CEO of Nike, John Donahoe, has criticised remote working for the company's first sales slump in over two years. Donahoe stated that it is difficult to achieve bold and disruptive innovation, such as developing new shoes, through Zoom meetings. Donahoe emphasised the importance of rebuilding the innovation pipeline and plans to showcase Nike's new approach during the Olympics in Paris.
CORPORATE
Late stage HRtech startup Rippling raises $200m in new funding round
Late stage HRtech startup Rippling is raising $200m in a new funding round, with the potential to raise its valuation to $13.4bn. The Series F round includes $670m worth of shares being sold by existing stockholders. Rippling's previous round was during the Silicon Valley Bank crisis, when founder and CEO Parker Conrad worked to raise funds to cover payrolls. Existing investor Napolean Ta at Founders Fund is prepared to invest up to $310m, the largest check the fund has ever written. The HRtech market for payroll services and remote labour management is growing. Rippling's valuation puts it in the same league as well-funded competitors such as Gusto, Deel, and Remote.
TAX
IMF boss calls for tax loopholes to be closed
The head of the International Monetary Fund (IMF) has called for the closure of tax loopholes to ensure the wealthiest pay their fair share of taxes. According to IMF research, ending tax avoidance by corporations could generate an additional $200bn annually while implementing a global corporate minimum tax would also boost revenues by an estimated $150bn per year. Additionally, Kristalina Georgieva said setting a minimum floor for carbon pricing could raise revenues by $150bn annually.  
INTERNATIONAL
PwC to investigate allegations over collapse of Evergrande
PwC is planning to investigate an anonymous letter that accuses the firm of turning a blind eye to its audit of Chinese property giant Evergrande. The letter, signed by unnamed partners, claims the Big Four auditor failed to address the financial fraud at Evergrande for over a decade. PwC Hong Kong has rejected the allegations, stating that the letter contains inaccurate statements. The firm has reported the incident to the relevant authorities and is taking it seriously. Evergrande, which filed for bankruptcy last year, has been accused of fraudulently inflating its revenues. Chinese authorities are now scrutinising PwC's role in the alleged accounting fraud. PwC resigned as Evergrande's auditor in 2021 due to disagreements over the developer's accounts. The investigation is ongoing.
UK worker successfully sues male boss for menopause discrimination
An admin worker in the UK  has successfully sued her male boss for menopause discrimination. Marie Johnson requested to work a four-day week due to the impact of menopause on her daily activities. However, her boss turned down the request without understanding how menopause affected her. As a result, Johnson resigned after 27 years at the company and sued her bosses for disability discrimination and unfair dismissal. The employment tribunal ruled in her favour, criticising her boss's lack of interest in menopause. The tribunal acknowledged Johnson's struggles with mental health symptoms arising from menopause and the challenges of caring for her elderly parents. The judge stated that her boss could have easily understood the effects of menopause on her daily life and work.
Portuguese police and tax agents raid Uber premises in Lisbon
Portuguese police and tax agents conducted searches at Uber Technologies' premises in Lisbon as part of an investigation into suspected tax fraud worth €28m. The raids targeted some of Uber's delivery partners, but not the company's local unit. Uber confirmed the searches and stated that it is collaborating with authorities. The Public Prosecutor's Office revealed that the alleged fraud involved partners providing delivery services to a commercial company, benefiting from the issuance of invoices that did not correspond to services actually provided. The investigation is ongoing.
Dutch companies file 1,500 work permit requests for refugees
Dutch companies have filed over 1,500 requests for work permits for refugees this year, following a ruling that allows them to work more than 24 weeks. The ruling, made last year, states that asylum seekers should have access to the job market to become self-sufficient and better integrated into society. The annual report from the Dutch jobs agency UWV confirms that companies are embracing this change and seeking work permits for refugees.
OTHER
Colorado governor signs landmark brainwave data protection law
Colorado Governor Jared Polis has signed into law the first measure in the US aimed at protecting the data found in a person's brainwaves. The law is a response to the increasing advancements in neurotechnology, which make scanning, analysing, and selling mental data more possible and profitable. The legislation provides a framework to protect Coloradans' personal data while allowing the development of new technologies. The Neurorights Foundation, a non-profit promoting ethical neurotechnology development, supports the bill. The law focuses on consumer products outside of a hospital setting, as medical privacy laws already cover neuratechnologies used in clinical settings. Big tech firms like Facebook, Meta Platforms, and Neuralink are developing brain activity detection technology for commercial use. The US Food and Drug Administration has approved human studies for Neuralink's brain implants. Other governments worldwide are also working on increasing consumer protections for neurotechnological products.
 


The Human Times is designed to help you stay ahead, spark ideas and support innovation, learning and development in your organisation.

The links under articles indicate original news sources. Some links lead directly to the source material. Others lead to paywalls where you may need a subscription. A third category are restricted by copyright rules.

For reaction and insights on any stories covered in the Human Times, join the discussion by becoming a member of our LinkedIn Group or Business Page, or follow us on Twitter.
Follow us on FacebookFollow us on TwitterFollow us on Linkedin

This e-mail has been sent to [[EMAIL_TO]]

Click here to unsubscribe