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Middle East Edition
25th March 2025
 
THE HOT STORY
UAE announces major US investment plan
The United Arab Emirates has pledged a $1.4tn investment in the US over the next decade, focusing on sectors like AI, semiconductors, and energy, following high-level talks between UAE officials and President Donald Trump, the White House has announced. This framework, which includes a new aluminium smelter by Emirates Global Aluminium to nearly double US production, aims to deepen economic ties as the UAE seeks to diversify from oil, and builds on existing investments from Gulf sovereign wealth funds such as Mubadala. Trump is also pursuing similar large-scale investments with Saudi Arabia amid a broader Gulf engagement strategy.
STRATEGY
Law firm hires ahead of Riyadh debut
Project finance expert Alexander Malahias has joined Akin from White & Case to co-lead the firm's new office in Riyadh, Saudi Arabia, which is set to launch later this year. Abid Qureshi, Akin's co-chair elect, described the Riyadh launch as a "critical piece" of the firm's growth strategy, and highlighted the sustained demand for local insight in the region. Malahias brings nearly two decades of experience, advising on significant project finance transactions across various sectors, including energy and infrastructure. His connections with key players like Red Sea Global and NEOM will enhance Akin's capabilities. The Saudi legal landscape has recently evolved, allowing foreign firms to establish practices without local partners, prompting a surge of interest from major law firms. Akin's Riyadh office will be its third in the Middle East, following Abu Dhabi and Dubai.
Ann Summers expands to Middle East
Ann Summers has announced plans to expand into the UAE, Kuwait, Saudi Arabia, Qatar, Bahrain, and Oman, following a successful trial. The move comes in response to a growing demand for lingerie in the Gulf, where the market is estimated to be worth around $1.7bn. Maria Hollins, the retailer’s chief executive, told the Telegraph last year that Middle Eastern customers had been flocking to its Marble Arch store. While the product range will largely mirror that of Western stores, sex toys will be absent due to regional laws banning their possession under Islamic law.
WORKFORCE
Eid al-Fitr wage reminder issued in Oman
Oman's Ministry of Labour has issued a reminder to private sector establishments regarding the early payment of wages ahead of Eid al-Fitr. In a circular, the Ministry said: "On the occasion of the upcoming Eid Al-Fitr for the year 1446 AH, the Ministry wishes to inform all private sector establishments... to ensure the early payment of wages to their workers for the month of March 2025, no later than Thursday, 27th March 2025." This directive is in accordance with the Labour Law issued by Royal Decree No. (2023/53).
DIVERSITY, EQUITY & INCLUSION
JPMorgan changes diversity schemes
JPMorgan Chase is revamping its Diversity, Equity and Inclusion (DEI) programmes, renaming them Diversity, Opportunity and Inclusion. Chief operating officer Jenn Piepszak explained that "The 'e' always meant equal opportunity to us, not equal outcomes," adding that the bank believes the change "more accurately reflects our ongoing approach to reach the most customers and clients to grow our business, create an inclusive workplace for our employees and increase access to opportunities." JPMorgan plans to integrate some DEI initiatives into different lines of business, including human resources and corporate responsibility. The bank also plans to reduce training on these topics.
TECHNOLOGY
HP unveils game-changing AI innovations
HP has introduced over 80 new products and services aimed at transforming the future of work during its annual Amplify Conference. HP president and chief executive Enrique Lores commented: "HP is translating AI into meaningful experiences that drive growth and fulfillment." The 2024 Work Relationship Index revealed that only 28% of workers maintain a healthy relationship with work, highlighting the need for improved work experiences. New offerings include the HP EliteBook 8 Series, designed for productivity and collaboration, and the HP EliteDesk 8 Series, which features advanced security against quantum computer threats. Additionally, HP is enhancing its AI software capabilities, including the HP AI Companion and HP Go for seamless connectivity. These innovations aim to empower employees and streamline workflows, ultimately reshaping how work is approached in the modern landscape.
INTERNATIONAL
Japanese firms stand firm on diversity
According to a recent Reuters survey, over 77% of Japanese companies say they are committed to advancing workplace diversity and decarbonisation, despite shifts in US policy under President Donald Trump. A manager from a machinery manufacturer said: "DEI is a global trend. We don't see it necessary to change our direction just because one country's president is against it." The survey, conducted by Nikkei Research, revealed that 84% of respondents plan to maintain their decarbonisation efforts. Japan's reliance on imported energy sources makes these initiatives crucial for energy security and reducing greenhouse gas emissions. Additionally, 36% of companies expect profit growth in the upcoming business year, with many citing stronger domestic demand as a key factor. However, rising costs and potential tariffs from the US pose challenges for some sectors.
Unions in UK gain new rights to recruit
The UK government is set to implement reforms granting unions the right to access staff intranets and workplaces for recruitment purposes. The Central Arbitration Committee will enforce compliance, with penalties potentially mirroring those for data protection breaches. While unions have welcomed the changes, business groups have expressed concerns over a lack of clarity in the new measures. Employers have told the government they believe the changes would create an "unfettered" right of access to workplaces, but the government has insisted that the new rules would ensure "[workplace] access occurs in a regulated and responsible manner." Ministers said they wanted to develop an "access framework that fosters meaningful and productive access agreements between employers and unions."
Tesla workers demand longer breaks
At Tesla's Gigafactory Berlin-Brandenburg in Germany, approximately 3,000 workers have signed a petition demanding longer breaks and increased staffing, despite the company reporting that around 80% of employees are satisfied with their jobs. The IG Metall union plans to present the petition, signed by 3,086 staff, at an upcoming works council meeting. Tesla conducted its own survey of about 7,500 workers, and said that only 5% expressed dissatisfaction. As production of the new Model Y ramps up, Tesla is converting 300 temporary workers to permanent positions, but union representatives remain concerned about whether this will suffice to meet production demands.
Optimising workforce expectations in Hong Kong
KPMG China's latest Hong Kong Employment Outlook survey reveals a cautious employment market, with C-level executives showing slight optimism for 2025. David Siew, Head of People Services, Tax, KPMG China, said: "Organisations will need to strike a balance between the optimisation of their operations and the evolving expectations of the workforce for long-term success." Key findings indicate that while 76% of C-suites are optimistic about maintaining or increasing headcount, overall hiring expectations have decreased slightly. Additionally, 74% of respondents anticipate a pay rise, down from 78% the previous year. The report also highlights the growing importance of talent management, with 39% of respondents prioritising stability in their job choices. Furthermore, 65% of organisations are either operating in or planning to expand into the Greater Bay Area, leveraging a deep talent pool from the region.
 


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