THE HOT STORY

Heavy corporate AI spenders add staff faster than peers

Companies investing most heavily in AI are adding workers faster than their peers, according to research from start-ups Ramp and Revelio Labs that challenges forecasts of broad AI-driven job losses. TechCrunch notes that the research data skews towards tech-forward, knowledge-work firms that are likely growing quickly anyway, making it difficult to say whether AI is contributing to hiring. “This paper does not show that AI universally creates jobs,” the paper’s authors write, “but it does counter claims that AI will lead to broad job losses.”

TechCrunch

Financial Times

GUIDE

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WORKFORCE

Saudi unemployment falls to 6.4% in Q1 2026

Saudi Arabia's unemployment rate among citizens decreased to 6.4% in the first quarter, with women's unemployment dropping to 9%, according to the General Authority for Statistics (GASTAT). This marks a 0.8 percentage point decline from the previous quarter. Unemployment among Saudi men fell to 4.9%. The overall unemployment rate, including non-Saudis, is now 3.1%. The survey revealed that 74.6% of unemployed Saudis sought jobs directly from employers, and 95.8% expressed a willingness to work in the private sector. GASTAT noted significant participation from younger Saudis in the job market.

Saudi Gazette

Arab News

Gulfnews.com

TECHNOLOGY

UAE firms 'use AI to decide promotions and layoffs'

According to a YouGov survey commissioned by HireRight, over 42% of employers in the UAE use AI to assist with promotion decisions, the highest rate globally. Additionally, 31% employ AI for employee terminations. While many HR leaders are becoming more accepting of AI in recruitment, concerns about identity fraud persist, with 63% reporting instances of fraud among candidates. James Randall, Middle East sales director at HireRight, noted that employers are shifting focus from candidates' use of AI to assessing their authenticity and suitability for roles.

Khaleej Times Online

LEGAL

Saudi Arabia extends deadline to rectify expired work permits

Saudi Arabia's Ministry of Human Resources and Social Development has extended the grace period for employers to rectify the status of expatriate workers until the end of 2026. This applies to workers with expired permits for over 12 months and those without permits issued within six months of joining. The ministry said it aims to enhance compliance with labour regulations and protect rights.

Saudi Gazette

Gulfnews.com

INTERNATIONAL

EY staff accused of accessing Australian prime minister's bank account

Two junior EY employees have been accused of improperly accessing the bank account of Australian Prime Minister Anthony Albanese while on secondment at Commonwealth Bank of Australia, according to people familiar with the matter. The employees, who joined EY in March, were subsequently dismissed after the alleged breach was discovered. Reports also indicate that the pair accessed the account of at least one EY partner before the bank alerted the firm. The Australian Federal Police have charged two men, ages 21 and 25, with unlawfully accessing restricted personal banking information belonging to a federal parliamentarian. The case is due to be heard in a Sydney court, while Commonwealth Bank and the prime minister's office have declined to comment on the incident.

Bloomberg

Financial Times

The Guardian

China says it has right to ⁠target ⁠people outside of its borders ⁠on ethnic unity

China's new law on ethnic unity allows the government to target individuals outside its borders who undermine it. The law, which was passed in ‌March to create a "shared" national identity among the country's 55 ethnic minority groups, goes into effect on July 1, and includes a clause saying that people and groups beyond the borders of the People's Republic of China can be held legally accountable for undermining "ethnic unity and progress or inciting ⁠ethnic ⁠separatism." Vice Justice Minister Hu Weilie said: "This provision is based on China's national conditions, conforms to legal principles, and is consistent with international practice. It is a legitimate, lawful, necessary, and feasible legal provision . . . Countries around the world all have the right to prevent separatist and destructive activities, and to maintain social solidarity and normal order, through domestic legislation."

U.S. News

Finland wants its leaders to plan for worst-case scenarios

Finland’s National Defense Course is designed to get leaders, and future leaders, thinking about how to plan for, and respond to, worst-case scenarios so that they can help keep the country functioning during a national emergency. The highly coveted invitations to the secretive training programme are sent to Finland’s most influential chief executives four times year. Former Nokia Oyj chief executive Pekka Lundmark says the training changed how he approached new executive roles; each time he stepped into a new one, he would review a company’s crisis plan.

Bloomberg

More South Koreans are becoming ‘full-time children'

In South Korea, economic pressures have led to the rise of "full-time children" - young adults who live at home and manage household responsibilities. The trend, influenced by high youth unemployment and soaring housing costs, sees these individuals taking on chores and caregiving in exchange for financial support. “They are not simply staying home and doing nothing,” observes Jeon Young-soo, a professor at Hanyang University's Graduate School of International Studies. “In an era of youth unemployment, slow growth and high inflation, this is a survival strategy born from the intersection of young people's economic difficulties and parents' desire to support their children,” he said.

Straits Times

OTHER

Nearly one million people worldwide became millionaires in 2025

UBS's annual Global Wealth Report reveals that personal wealth grew by 10.8% in 2025, creating nearly 1m new US dollar millionaires globally. The United States accounted for almost half of new millionaires last year, adding more than 440,000 individuals, followed by China, Japan, Germany, France and the UK, which each count more than 2m millionaires in total. "The real story is one of continued expansion: more people moving up the wealth ladder," the report said. "The gains . . . point to a world that kept building wealth, deepening its affluent population and extending a long-running upward trend." Despite such growth, the report also noted a deepening wealth inequality, as median wealth declined in many countries. UBS analysed 56 markets, representing over 92% of the world's wealth, highlighting a stark divide between the richest and the broader population.

France 24

U.S. News

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