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Middle East Edition
17th January 2025
 
THE HOT STORY
Most UAE employers expect salaries to increase in 2025
Three-quarters (75%) of employers in the UAE say they expect salaries to increase in their organisation in 2025, according to the GCC Salary Guide 2025 released by Hays. Meanwhile, nearly half (48%) of local employees received a salary raise last year and 74% expect their salaries to increase in 2025, according to the survey, which found that employees in the UAE typically received increments of between 2.5% and 5% in 2024. Khaleej Times also notes a 2025 Hays survey which found that over two-thirds (67%) of UAE nationals say they plan to switch jobs this year. In 2024, just 23% of people said they planned to move to another organisation. “Aside from salary, the leading cause for UAE nationals changing jobs last year was lack of learning and development. This is particularly important to these professionals and will also be a key reason for many people looking to leave their current organisation this year,” Hays said. “Providing employees with professional training, upskilling opportunities, and regular progression reviews is not only important for employee satisfaction and retention but also contributes to growing a skilled workforce.”
STRATEGY
BP to cut 4,700 jobs to reduce costs
Oil giant BP is to cut about 4,700 staff, more than 5% of its total workforce, as part of plans to cut costs. The UK firm, which has a global workforce of about 90,000 people, confirmed the job losses on Thursday, but has not said how many roles will be affected in each country it operates in. An email to staff also confirmed that about 3,000 contractor positions will be axed this year. It is understood the cuts will be applied to those in office-based jobs rather than operational roles. In an email to staff, chief executive Murray Auchincloss said: "We have got more we need to do through this year, next year and beyond, but we are making strong progress as we position BP to grow as a simpler, more focused, higher-value company." Auchincloss added that he recognised "the uncertainty this brings for everyone whose job may be at risk, and also the effect it can have on colleagues and teams." 
RISK
Climate crisis could halve growth, actuaries claim
The Institute and Faculty of Actuaries (IFoA) has released a report warning that global economic growth could decline by 50% between 2070 and 2090 due to the severe impacts of climate change. Sandy Trust, the report's lead author, said: “There is no realistic plan in place to avoid this scenario.” The report, titled Planetary Solvency – finding our balance with nature, criticises current economic theories that overlook the risks posed by nature degradation. It highlights that without urgent action to decarbonise and restore ecosystems, the world faces catastrophic consequences, including potential state failures and mass migration.
LEGAL
Qatar's Minister of Labor meets ILO's Regional Director of Arab States
Dr. Ali bin Saeed bin Smaikh Al Marri, Qatar's Minister of Labor, has met with Dr. Ruba Jaradat, the Regional Director for Arab States at the International Labor Organization (ILO). The meeting focused on enhancing cooperation between Qatar and the ILO, with discussions centred on "ways to support and develop them in the coming period." This collaboration aims to strengthen labour relations and improve working conditions in Qatar.
CORPORATE
Saudi Arabia embarks on lithium project
Saudi Arabia has launched a joint venture between Aramco and Ma'aden to extract lithium, a crucial element for electric vehicles and electronics. The partnership aims to begin commercial lithium production by 2027. Aramco's president of exploration and production, Nasser al-Naimi, said: “We expect that this partnership will leverage the world's leading upstream enterprise.”
WORKPLACE
International Workplace Group expands in Oman
International Workplace Group (IWG), a leading provider of hybrid working solutions, is set to open two new flexible workspaces in Oman, located at Sohar City Centre and Qurum City Centre. The openings respond to a growing demand for flexible work solutions in the MENA region and align with Oman’s Vision 2040, which focuses on economic diversification and creating a competitive economy. The new spaces, measuring 704 sq m and 805 sq m, will cater to both established businesses and start-ups, offering private offices, meeting rooms, and co-working areas. IWG anticipates that by 2030, 30% of all commercial real estate will consist of flexible workspaces.
INTERNATIONAL
China to cut pay by half for staff at top financial regulators
China is implementing significant pay cuts for staff at its top three financial regulators, including the People's Bank of China (PBOC), National Financial Regulatory Administration (NFRA), and China Securities Regulatory Commission (CSRC), reducing their total income by approximately 50%. The move aligns their salaries with those of other civil servants, as part of a broader regulatory overhaul initiated in 2023. According to sources, department heads will see a 50% reduction, while officials below that rank will face a 40% cut, and some senior officials may experience a 60% decrease. The decision comes amid China's efforts to boost consumption and maintain economic stability, and contrast with recent wage increases for millions of civil servants. One source observed: “the hefty pay cuts at the regulatory bodies... comes at a particularly tricky time for China.”
Coupang told to cut night shifts after employee dies of overwork
Coupang Logistics Services (CLS), whose business encompasses parcel delivery, cargo transportation, forwarding, and warehouse operation, has been ordered by the Korean government to reduce nighttime working hours for its drivers following the death of a delivery worker last May. An investigation by the Ministry of Employment and Labor revealed 136 violations of the Labour Standards Act, including delayed wage payments totalling 150m won. The probe was initiated after a worker suffered a heart attack after working six night shifts in one week. The ministry's report observed: "Intensive nighttime labour can result in a variety of diseases, including those related to the brain." Although the ministry recommended changes to working conditions, it concluded that Coupang could not be held legally responsible for the worker's death, because he was classified as an independent contractor. Coupang has said it will implement improvement measures, including enhanced health checkups and support for health management programs.
Paid bereavement leave should cover miscarriage, UK lawmakers say
A cross-party group of MPs in the UK say women and their partners should be given paid time off work if they experience a miscarriage. Since April 2020, employees can be eligible for statutory parental bereavement leave, including pay, if they have a stillbirth after 24 weeks of pregnancy, but there is no specific leave for a pre-24 week miscarriage. The Women and Equalities Committee (WEC) is recommending that the two-week leave period should now be made available to women who experience a miscarriage, and their partners who support them. The MPs said that while a "growing number of employers have specific pregnancy loss leave and pay policies," there remains a "very substantial" gap in support.
Illinois could become first US state to decriminalise sex work
State lawmakers plan to introduce legislation this week that would make Illinois the first US state to fully decriminalise sex work. “The threat of arrest and prosecution keeps sex workers unsafe and in the shadows, and this threat must be eliminated,” Brian Johnson, CEO of Equality Illinois, told a news conference announcing the proposed bill. “This law is essential now more than ever.” The bill, which is sponsored by state Rep. Will Guzzardi, D-Chicago, and state Sen. Celina Villanueva, D-Chicago, would eliminate criminal penalties for adults who engage in consensual sex work, remove arrest and conviction records for sex workers, and establish a sex workers’ bill of rights.
 


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