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Middle East Edition
21st April 2026
 
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THE HOT STORY

First wave of layoffs to cut about 10% of Meta's workforce

Meta is targeting May 20 for a first wave of layoffs, with more ‌coming later, three sources familiar with the company's plans have told Reuters. The parent of Facebook and Instagram will lay off about 10% of its global workforce, or close to 8,000 employees, in the initial round, one of the sources said. The company is planning further layoffs in the second half of the ​year, although details of these cuts, including date and size, are not yet settled, the sources said.
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ECONOMY

Middle East conflict fuels global inflation and slows growth

The impact of the ongoing Middle East conflict is expected to be reflected in upcoming business surveys, with preliminary purchasing manager indexes indicating potential stagnation and inflation risks across multiple economies. The results for April will be published soon, with forecasts suggesting worsening conditions in Europe while the US remains stable. Central bankers, and organisations including the IMF, have noted that the economic repercussions could linger even post-conflict, prompting cautious responses to interest rate decisions. In the US, retail sales are projected to rise due to high gasoline prices, while Canada's inflation is expected to spike, driven by similar energy shocks. Global inflation issues are anticipated to extend to markets in Asia and Europe, where various central banks are adjusting policies amidst rising prices and pressure on economic growth.
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HIRING

Recruitment agencies shut for violating labor service regulations

Saudi Arabia's Ministry of Human Resources and Social Development has released inspection results for recruitment agencies for the first quarter of 2026. The ministry identified violations at 14 agencies, suspending three and revoking the licenses of 11 for non-compliance. Violations included breaches of recruitment regulations, delays in refunds, and unaddressed complaints. The ministry said it aims to enhance compliance and service quality while ensuring a transparent work environment. It will continue monitoring recruitment offices and encourages reporting violations via the Musaned platform.
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TRAINING & DEVELOPMENT

Abu Dhabi centre launched to support early childhood development

The Zayed Higher Organisation for People of Determination has launched the "Mawj – Early Intervention Center" in Abu Dhabi, aimed at supporting children aged zero to eight years. The centre focuses on early diagnosis, rehabilitation, and family support services, aligning with Abu Dhabi's commitment to early childhood development. Meera Al Kaabi, Acting President of the National Academy for Childhood Development, said: "This project helps bring together different efforts to support children and families." The initiative also includes training for professionals and awareness programmes for parents to enhance understanding and management of children's needs.
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STRATEGY

New plastics factory opens in North Sinai

Egyptian Prime Minister Mostafa Madbouly has inaugurated the National Sinai for Plastic Industries (NSPI) factory in North Sinai, a significant step in the government's industrial development strategy. The facility, covering 20,000 square metres, employs 170 workers, with 79 from Sinai. Madbouly said: "The project reflects the state's commitment to extending industrial development to all regions." The factory aims to create job opportunities and support local economies while enhancing national industry and export channels. The project is a public-private partnership with total investments of EGP530m.
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LEADERSHIP

Apple names new chief executive

Apple has named John Ternus as its new chief executive. He will replace Tim Cook, who will become the firm's executive chairman. Mr Ternus, who is currently the head of hardware engineering, will take over from Mr Cook on September 1. Mr Cook described Mr Ternus as a "visionary" executive, saying that he is "without question the right person to lead Apple into the future."
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INTERNATIONAL

Former EY employee sues firm over dismissal after Israel 'genocide' speech

Big Four accounting firm EY is being sued by a former employee who said she was fired after a viral graduation speech against Israeli actions in Gaza. EY put Cecilia Culver on administrative leave less than 24 hours after the speech and, after she lodged a discrimination complaint, fired her four days later. In the six-minute speech in May last year, Culver claimed George Washington University was profiting from a “genocide” in Gaza, and called on the institution to “divest from the apartheid state of Israel.” The lawsuit alleges that EY fired Culver to placate an “external Zionist pressure campaign” which was organised in response to her speech. “When EY faced a choice between its legal obligation to protect its employee from discrimination and its desire to placate an organised campaign targeting her for the identity-based content of her expression, EY chose wrong,” the lawsuit says.

Brussels pushes remote working to ease energy crisis

The European Commission has said in annexes to a draft communication that businesses should be encouraged to ensure at least one day of compulsory remote working where possible to ease energy concerns as the EU prepares for worsening fallout from the war in the Persian Gulf. EU Energy Commissioner Dan Jørgensen had already urged Europeans to work from home and cut travel in late March, warning of a "very serious situation" in the Middle East with no clear end in sight, Politico notes.  An emergency energy package is set to be presented Wednesday,

Singapore's maritime sector seeks fresh talent

Singapore's maritime industry, which is vital to the local economy, faces a talent shortage as data analytics and decarbonisation become crucial. Hor Weng Yew, chairman of the Singapore Maritime Foundation (SMF), highlighted the need to change perceptions of maritime careers. He said: "Maritime, frankly, is not so well understood." The sector contributes over 6% to Singapore's economy and employs around 140,000 people. SMF is partnering with local institutions to attract young talent and has awarded scholarships to over 700 recipients since 2007

Renault cuts engineer jobs amid China pressure

Renault plans to reduce its engineering workforce by as much as 20%, resulting in up to 2,400 job losses over the next two years. The French carmaker said it aims to enhance its competitiveness against Chinese electric vehicle manufacturers. A spokesperson confirmed that the cuts would not involve forced layoffs, and the development of new technologies and fundamental design work would remain in France. Last month, Renault chief executive Francois Provost announced a major restructuring, and said his intention was to "compete with Chinese vehicle manufacturers in terms of innovation, cost and speed."
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OTHER

US urges nations to back 'trade over aid' plan

The US wants other nations to back a “trade over aid” initiative at the United Nations as part of the Trump administration’s broader shift away from donor-focused development assistance and toward greater private investment. “The idea that trade and free market capitalism is the surest path to prosperity has been proven by the facts and by history,” said Tommy Pigott, a State Department spokesman. “The US remains the most generous country in the history of the world, but those arguing for ‘aid not trade’ are really arguing for lining the pockets of a corrupt NGO industrial complex.” The new US position has drawn criticism from the non-profit sector and others working on economic development goals.
 
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