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Middle East Edition
26th April 2024
 
THE HOT STORY
Two major US law firms open offices in Saudi Arabia
Two major US law firms, Quinn Emanuel Urquhart & Sullivan and Morgan Lewis, are opening offices in Saudi Arabia following a change in the country's foreign lawyers practicing regulations. Quinn Emanuel, with 1,000 lawyers, has been focusing on Saudi Arabia due to its investment in diversifying the economy and encouraging international investment. Morgan Lewis, with over 2,000 lawyers, is also preparing to open an office in Riyadh. Since October 1, several other US and international law firms have either opened offices or been granted licenses to work in Saudi Arabia. The country has been implementing economic and social policies to reduce dependence on oil exports, including plans to double the size and population of Riyadh through $800bn investments. Last year, Saudi Arabia allowed foreign law firms to operate independently in the country. Quinn Emanuel has had a presence in Saudi Arabia since 2022 through its affiliation with Alrubayyi & Attorneys. Nasser Alrubayyi, the head of that office, also serves as the co-chair of Quinn Emanuel's Middle East and North Africa practice.
WORKFORCE
Multiple payment options available for workers in the UAE
Workers in the UAE now have the option to choose their payment frequency. Under the UAE's Labour Law, employers and workers can agree on the form of wage payment as long as it is stipulated in the employment contract and documented with the Ministry of Human Resources and Emiratisation (MOHRE). The move aims to provide transparency and flexibility in payment methods. MOHRE clarified that workers and employers can choose from monthly, weekly, commission-based pay, or other options that suit both parties. The agreement on payment frequency becomes part of the official employment contract. This development offers greater autonomy to workers and ensures that their payment preferences are met.
STRATEGY
Chinese food delivery giant Meituan expanding to Saudi Arabia
Chinese food delivery giant Meituan is looking to expand its operations to Saudi Arabia as it seeks to further its global expansion ambitions. The company is hiring staff for various positions based in Riyadh, including business development, user acquisition, and customer retention. Meituan has been actively searching for growth opportunities outside of mainland China since its expansion to Hong Kong in 2023. Meituan's CEO, Wang Xing, expressed confidence in the company's ability to enter new markets and cater to consumers' needs. The move to Saudi Arabia is seen as Meituan's first step into the Middle East market.
Whirlpool to cut 1,000 jobs globally
Home appliance maker Whirlpool is cutting 1,000 salaried jobs globally in an effort to trim up to $400m in costs this year. The company expects to incur about $50m of restructuring charges. Whirlpool had about 59,000 employees globally as of last year. The company reported a 3.4% drop in first-quarter net sales to $4.49bn.
CYBERSECURITY
Cisco says hackers have breached government networks globally
Cisco Systems has said that hackers have subverted some of its digital security devices to break in to government networks globally. The company's Adaptive Security Appliances, which combine various digital defense functions, were found to have vulnerabilities that were exploited by a group of hackers known as "UAT4356." Cisco described the group as a "sophisticated state-sponsored actor" and urged customers to update their software immediately. The breaches date back to earlier this year. Cisco also warned that the hackers were interested in attacking network devices from Microsoft and other vendors. The Cybersecurity and Infrastructure Security Agency (CISA) has not confirmed evidence of this activity affecting US government networks.
LEGAL
Saudi Cabinet approves land transport law in GCC region
The Saudi Cabinet has approved a land transport law in the Gulf Cooperation Council (GCC) region, aiming to enhance the organisational environment, simplify procedures, and foster unity. The law is expected to boost road safety, elevate service quality, protect investments, and stimulate growth in the logistics sector throughout the GCC. The approval of the law was reached during a ministerial session chaired by King Salman in Jeddah. The International Air Transport Association (IATA) has also urged Pakistan to simplify the repatriation process, citing unnecessary delays and the inability of airlines to repatriate $399m from the Pakistani market alone. The new land transport law is seen as a significant step towards improving the logistics sector in the GCC region.
INTERNATIONAL
Many Australian workers are expected to take sick leave today
The 26th April is expected to see a surge in Australian workers taking sick leave following the Anzac Day public holiday. While many workers are expected to show up for work, a high number are anticipated to call in sick to create a four-day long weekend. Business groups have warned that this phenomenon could cost the economy millions in lost productivity. Jessica Tinsley, workplace relations director at the Australian Chamber of Commerce and Industry, emphasized that unplanned absences hurt small businesses and are against the law. Under current workplace laws, employers can ask employees to provide evidence, such as a medical certificate, for as little as one day off work. If employees fail to provide evidence, they may not be entitled to sick leave. Experts urge workers to request annual leave if they want a day off.
New EU legislation passed to protect workers employed by digital platforms
The European Parliament has passed new legislation to protect workers employed by digital platforms, such as couriers, drivers, and food delivery providers. The law creates a presumption of employment relationship, shifting the burden of proof to the platform to demonstrate that the worker is not an employee. The legislation aims to improve working conditions and prohibits firing workers based on algorithmic decisions. It also mandates human oversight for crucial decisions and imposes restrictions on processing personal data. Member States have two years to incorporate these rules into national law, which could lead to a broader review of employment contracts for workers under B2B agreements.
Immigrants boost Spain's economy as labour shortages persist
Spain's economy is thriving, thanks to an influx of immigrants who are filling labour shortages in the tech and restaurant sectors. Immigrants, primarily from Latin America, have accounted for 64% of new jobs created and half of Spain's economic growth in 2023. The proportion of resident foreigners in Spain has risen to 18.1%, above the EU average. The ease of integration, shared language and culture, and recognition of Latin American qualifications have made Spain an attractive destination for immigrants. The country's unemployment rate, although still the highest in Europe, has fallen to its lowest since 2007. Spain's economy is benefiting from the migration wave, similar to the U.S., and is projected to grow the fastest among advanced economies. However, concerns about driving down wages and poor working conditions for Spaniards have been raised.
Hong Kong bankers cut as China deals slow
About 200 Hong Kong bankers have lost their jobs in the past year as the slowdown in China deals continues, according to a report by Bloomberg Intelligence. Senior Hong Kong bankers earn 40%-70% more than their peers in Singapore, but this higher compensation may become a "curse" as employers look to cut costs. The report suggests that more global banks may trim their workforces in Hong Kong due to China's slowdown. The decline in investment banking staff in Asia is attributed to a lack of deals, deteriorating US-China relations, a crackdown on private enterprise, and a property crisis. Hong Kong's IPO market has been depressed, with proceeds falling to the lowest level in over two decades. The job market in wealth and private banking, however, remains stable.
Baseball star is voted 'dream boss' in Japan for a second year
Los Angeles Dodgers superstar Shohei Ohtani has been voted as the "dream boss" for new workers in Japan for the second year in a row, according to a survey by the Tokyo Chamber of Commerce and Industry. The survey asked participants who they believed would be ideal bosses from the entertainment, sports, and historical spheres. Ohtani emerged as the most popular choice among respondents. The survey also revealed changing attitudes towards job stability, with a higher percentage of respondents expressing a desire to change jobs if given the chance. Over 95% of respondents expressed anxieties about starting their new roles, including concerns about job compatibility, getting along with colleagues, and work-life balance. The survey highlights Ohtani's leadership skills and popularity among young workers in Japan.
OTHER
Using the phrase 'back in your day' could be considered age harassment, UK employment tribunal rules
Using the phrase 'back in your day' to older colleagues could be considered age harassment, according to a UK employment tribunal ruling. The phrase, which highlights the age gap between individuals, may amount to "unwanted conduct" and is potentially unwelcome. The ruling came in the case of nursing assistant Margaret Couperthwaite, who sued for age harassment after a younger colleague allegedly made a comment about an operation being free on the National Health Service "back in your day." Although the claim was dismissed due to lack of evidence, the tribunal agreed that if the comment had been made, it would have been related to age and likely considered unwanted conduct. Ms Couperthwaite's other claims of discriminatory dismissal, disability discrimination, and harassment were also thrown out.
 


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