THE HOT STORY

Some firms in Saudi Arabia extend work from home

Reuters reports that some Western and Saudi firms in Riyadh extended work-from-home advisories earlier this week amid mounting concern over the US-imposed deadline for Iran ‌to open the Strait of Hormuz or face "hell." The advisories, which were sent out on Monday and Tuesday, related to work in Riyadh's King Abdullah Financial District, Faisaliah Tower, Business Gate and Laysen Valley, people familiar with the matter said. The locations are home to offices for major US banks and tech firms including Microsoft and Apple, and also Saudi entities such as the sovereign wealth fund. The US and Iran have now agreed a two-week ceasefire that would open the Strait of Hormuz shortly before Donald Trump’s deadline for Tehran to meet his demands or face strikes that he said would kill “a whole civilisation.”

Reuters

WORKFORCE

Working through conflict: staff across Middle East adapt to war

The Financial Times reports on how workers across the Middle East are adapting to a war which has shattered daily routines for millions throughout the region.

Financial Times

HIRING

UAE firms rethink hiring strategies

Companies in the UAE are shifting their hiring strategies, focusing on targeted workforce management rather than broad cost-cutting. “Companies are focusing on careful workforce planning rather than broad cost-cutting, aiming to protect business continuity by retaining critical roles while adjusting spending in areas where demand is less certain,” said Anil Singh, Chief Business Officer KSA at TASC Outsourcing. Industries like cybersecurity and healthcare continue to recruit, while others face hiring slowdowns. Experts warn against quick decisions, advocating for a measured approach that emphasises communication and long-term planning to navigate current uncertainties.

Gulfnews.com

LEGAL

Accused ICC prosecutor can potentially resume work

The International Criminal Court's chief prosecutor, Karim Khan, can potentially resume his duties after a three-judge panel found insufficient evidence to support allegations of sexual misconduct. The panel's assessment, based on over 5,000 pages of evidence, concluded that the UN investigation did not establish misconduct. Mr Khan, who has denied all allegations, temporarily stepped down in May 2025. Staff members have expressed concerns about his potential return, fearing retaliation. One staff member said: "People are deeply afraid."

Daily Mail

The Times

ECONOMY

Emerging markets more vulnerable to global shocks, IMF warns

The IMF warns that emerging markets are increasingly vulnerable to global shocks due to their reliance on volatile capital sources, particularly hedge funds. Since the 2008 financial crisis, foreign investment in these markets has surged, with inflows nearing $4tn by 2025. Debt from foreign investors now averages 15% of GDP, up from 9% in 2006. The IMF noted that sharp capital retrenchments could lead to increased borrowing costs and currency depreciations. "These risks have come to the fore in the context of the war of the Middle East," IMF staff said.

Financial Times

The Guardian

TECHNOLOGY

EY launches AI for global audits

EY is launching advanced AI tools for its audit teams worldwide to enhance corporate accounting checks. The initiative will integrate autonomous agents into every stage of the Big Four firm's financial statement audits over the next two years. The upgrades follow a $1bn investment in 2022 aimed at modernising audit technology.

Bloomberg Tax

INTERNATIONAL

Goldman and Citi tell Paris staff to work from home after thwarted BofA attack

Goldman Sachs and Citigroup have told their Paris staff they can temporarily work from home after a thwarted bombing at Bank of America’s office in the French capital last week. The police have said they suspect the foiled plot is linked to HAYI, a pro-Iranian group that ‌had ⁠posted a video naming Bank of America's Paris headquarters. However, prosecutors say the link is yet to be confirmed, Reuters notes.

Financial Times

Reuters

Singapore to monitor employment levels as it launches AI programme

Singapore's government is launching the National AI Impact Programme (NAIIP) to train 10,000 workers in AI skills. Minister for Digital Development and Information Josephine Teo said that although there is no single metric to evaluate the success of the initiative, the government would continue to monitor whether employment rates stay high. “Ultimately, what people want is an assurance that they will still be able to do meaningful work,” she said. “Over time, we also want to make sure that Singapore continues to provide good opportunities for people to advance - and advancement must certainly involve wage levels . . . We will be looking at these broader indicators of whether as a whole, the economy is still able to create and sustain good jobs, and that individuals that are part of the workforce continue to be able to make progress.”

Straits Times

ABC proposes new pay offer to staff

Australian national broadcaster ABC has proposed a new pay offer following a 24-hour strike last week. The updated proposal includes annual pay increases of 4% in the first year and 3.25% in the following two years, along with clearer progression pathways through pay bands. Unions will consult members before a vote on the offer. Michael Slezak, co-chair of the Media, Entertainment & Arts Alliance (MEAA), noted that while the offer does not address all the union's concerns, it represents significant progress. However, issues regarding job protection from artificial intelligence remain unresolved.

ABC Online

Coca-Cola to invest $1bn in South Africa to expand capacity and distribution

Coca-Cola has announced plans to invest 17.6bn rand ($1bn) in South Africa through 2030 to expand production capacity, distribution and innovation, reinforcing the country’s role as a key hub for its African operations. The investment, alongside local bottling partners, builds on a long-standing presence in the market and follows recent restructuring of its African bottling network, including a $2.6bn deal to combine bottling operations. South Africa remains central to Coca-Cola’s regional strategy, with the business supporting tens of thousands of jobs, as the company deepens its commitment amid broader efforts to attract investment into the country.

Bloomberg

OTHER

Middle East conflict disrupts nearly 8,000 clinical trials

The conflict in Iran has disrupted nearly 8,000 clinical trial sites, according to a report from Phesi. The analysis covered over 65,000 global trials, revealing that 6.7% of active studies, or 4,361 trials, have been disrupted by the conflict in the affected region, impacting a total of 7,958 trial sites. Most disruptions occurred in Turkey, Israel, and Egypt, with oncology trials being significantly impacted. Phesi founder Gen Li emphasised the importance of patient safety amid these challenges, saying: "Patient safety and the safety of investigators and clinical staff must remain the primary consideration."

Fierce Biotech

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 X.

Online

Advertise

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

Click here to unsubscribe