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Middle East Edition
9th December 2022
 
THE HOT STORY
UAE is the most attractive Arab country for talent, IMD says
The UAE is ranked as the top destination for talent in the Arab region and 21st globally, according to the latest Institute for Management Development (IMD) world talent ranking.  The UAE moved up two places in the annual ranking that rates 63 economies on their ability to attract and retain skilled workers. Within the Arab region, the UAE is followed by Saudi Arabia, ranked 30th globally, Qatar (34th) and Jordan (49th). The UAE is ranked higher than some European countries including France, Portugal and United Kingdom. Switzerland placed first in the ranking, followed by Sweden, Iceland, Norway, Denmark, Finland, Luxembourg, Austria, Netherlands and Germany in the top ten. The UK has slipped seven places in the ranking, falling to 28th. Professor Arturo Bris, director of the IMD world competitiveness centre, said that the UK was avoided by overseas workers “due to concerns about the quality of life in the country, fed by political fragmentation and economic problems, brought on in part by Brexit.” This, combined with the nation’s rising cost of living, which was higher in only nine countries, is attributed to fuelling the UK’s decline in labour competitiveness, according to the IMD.
STRATEGY
Saudi and Chinese companies sign 34 investment agreements
Chinese and Saudi companies have signed 34 investment pacts for sectors including green hydrogen and solar energy during a visit by Chinese President Xi Jinping to the kingdom. The agreements also covered several sectors including information technology, cloud services, transportation, logistics, medical industries, housing and construction factories. Saudi Minister of Investment Eng. Khalid Al-Falih said: "[Saudi Arabia] offers unprecedented investment opportunities in various sectors including renewable energy, industry, communications, information technology, biotechnology, tourism, building and construction, and others."
HYBRID WORKING
Much at stake over how the workplace evolves
Reuters reports on how many workers are holding out on hybrid working arrangements, where workers go into the office part of the week, even as some companies demand full-time return. For employers, the model they choose could determine their attractiveness to workers, especially the younger generations who want more flexibility and better work-life balance, and the coming year could determine who ends up having most influence over what work looks like in the future.  “It's not going to be so easy to give up your job [should there be a recession],” said Kathryn Wylde, chief executive of the Partnership for New York City. "That will probably mean that people are less resistant to the requirement they are back in the office at least three days a week - which is where it feels like it is headed.”
TRAINING & DEVELOPMENT
Nokia and du partner to boost UAE employees' skillsets
Emirates Integrated Telecommunications Company’s du has announced a partnership with Nokia to enhance employee skillsets. As part of the agreement, Nokia will deliver training and development programs based on its global best practices to equip du employees with the skills and demonstrable abilities needed in a technologically competitive environment. Amr K. El Leithy, SVP, Middle East and Africa Market, Nokia, said: “The program will help du nurture home-grown talent with global knowledge and world-class technical expertise. Nokia's global learning and experience hubs around the word will provide du's personnel the opportunity to learn and successfully perform in a fast-changing multicultural environment.”
WORKFORCE
Egypt’s Parliament weighs raising pension age
Egypt’s Parliament is discussing amendments to the country’s Labor Law to raise the pension age from 60 to 65. Amendments to the Labor Law aim to align with the 2019 Pension Act that has targeted raising the age of retirement to 65 by the year 2040.
REGULATION
US regulator sues to block Microsoft’s $75bn acquisition of Activision Blizzard
The US Federal Trade Commission (FTC) is taking legal action to block Microsoft’s $75bn acquisition of video game maker Activision Blizzard. The transaction, which is also being scrutinised by the UK's Competition and Markets Authority and the European Commission, would likely harm competitors to Microsoft’s Xbox consoles and cloud-gaming business. Observers suggest the lawsuit represents the FTC’s most significant effort to rein in consolidation in the tech industry since prominent tech critic Lina Khan became the commission’s chair.
INTERNATIONAL
Airline policy cost pregnant flight crew their jobs
BBC News reports on the legacy of Singapore Airlines’ (SIA) half-a-century-old policy, which it dropped in July, that required pregnant cabin crew to resign at the end of their first trimester. SIA's policy was legal in Singapore because the country does not have anti-discrimination laws, Clarence Ding from the Simmons & Simmons law firm told the BBC. "This is not to say SIA's policy was not problematic. [Singapore's employment guidelines] state that employers should implement fair employment practices," he said, but added "The guidelines do not have the force of law. It does not prescribe any penalties for non-compliance. The only reason why companies adhere to the guidelines is because the Ministry of Manpower (MOM) has repeatedly stated that all employers must do so . . . The MOM holds the real power as it has the ability to sanction employers by scrutinising their employment practices more closely and by curtailing their work pass privileges." Although SIA did not give a reason for the policy change, it comes as airlines around the world have been struggling with staff shortages after mass lay-offs during the pandemic.
Nearly half of UK employers have no official inclusion and diversity strategy
A report from the Chartered Institute of Personnel and Development (CIPD) reveals almost half of UK employers have no official inclusion and diversity strategy. The CIPD's Inclusion at Work 2022 report, in partnership with recruiter Reed, found that 36% of organisations aren't planning to focus on any specific inclusion and diversity areas over the next five years, while a quarter said such activities are entirely or mostly reactive to societal events. Jill Miller, senior diversity and inclusion policy adviser at the CIPD, said: “While there's been greater attention and gradual progress on inclusion and diversity in recent years, there's clearly still a long way to go to create truly inclusive and fair workplaces for all.” Ian Nicholas, global MD at Reed, warned: “Without change you could see your business lagging behind, risking damaging your reputation among new and existing employees and customers.”
New York Times staff in first major walkout since 1970s
The New York Times is facing its first major work stoppage since the 1970s, after staff demanding better pay and benefits declared a 24-hour walkout. The firm said it was disappointed by the decision but was prepared to serve readers "without disruption." Since the last contract expired in March 2021, the two sides have been at odds over issues such as starting pay, wage increases, retirement and health care policies and remote work. Union members say the company can afford their demands, despite challenges in the wider news business. "We're incredibly fortunate to work for one of the few places in media, or print media, that is profitable, healthily profitable," said sports reporter Kevin Draper. "And yet the proposals that management have made are barely better than what we got last time." More than 1,100 union members plan to participate in the walkout.
Top Xiaomi India exec to leave firm
One of Xiaomi's leading executives in India is leaving the smartphone maker just as it faces intensifying regulatory scrutiny and competitive pressure in the country. Chief business officer Raghu Reddy has resigned to “pursue different growth opportunities externally." Xiaomi is among Chinese companies targeted by India’s government amid continued hostility between the respective nations along a disputed Himalayan border site. Indian authorities have accused Xiaomi of illegally remitting money overseas, allegations it has denied, saying the transfers are royalty payments.
 


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