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Middle East Edition
4th September 2023
 
THE HOT STORY
Major reforms announced in Saudi Arabia's labour law penalties
Saudi Arabia's Ministry of Human Resources and Social Development has announced major reforms to the penalty structure for labour law violations. The changes include reductions of up to 80% in fines for certain violations, based on establishment category. The new penalty structure applies to violations related to Saudization quotas, safety standards, salary protocols, work environment protocols, weather-related employment, medical benefits, child labour and maternity, role limitations for Saudi nationals, data integrity, employment discrimination, and salary disbursement. The reforms aim to improve compliance with labour laws and ensure the well-being of employees. According to the Ministry, "Categories are now determined by the total number of employees." The penalty reductions are expected to benefit businesses and promote a more conducive work environment in Saudi Arabia.
CULTURE
HR leaders can design and implement cultural awareness initiatives
Regional HR leaders can design and implement cultural awareness initiatives to help employees appreciate and respect different customs, traditions, and beliefs, writes Dominic Keogh-Peters, Group Chief Human Resources Officer of Dubai-based Galadari Brothers, for Khaleej Times. These initiatives can include workshops, seminars, and training sessions that explore various cultures represented in the workplace. HR can work closely with employees to sensitize them to cultural differences and potential misunderstandings that may arise in a multicultural setting. By embracing diversity as a strategic asset, HR can set the tone for a culture of acceptance and appreciation for different perspectives. Effective communication training can equip employees with the skills to communicate across cultural boundaries. Employee Resource Groups (ERGs) based on cultural backgrounds can provide a platform for employees to connect and offer valuable insights to HR.
STRATEGY
Egypt to collaborate with IFC on investment strategy
Egypt plans to work with the International Finance Corporation (IFC) to develop an investment strategy aimed at improving the country's Ease of Doing Business ranking and increasing investment rates. The IFC will serve as a government advisor on the initial public offering (IPO) program and the water desalination plants project. The IFC will prepare an integrated strategy for the IPO program, including evaluating previous plans, appointing investment banks, and implementing marketing plans. It will also coordinate with the European Bank for Reconstruction and Development (EBRD) on the water desalination plants project. The IFC has been active in Egypt since 1956 and has invested over $8bn in various sectors. "Egypt's plan to cooperate with the IFC to develop a clear strategy for investment in the country aims to improve its Ease of Doing Business ranking and increase investment rates," said the document issued by the Information, Support, and Decision Center.
Gulf monarchies shift to state-backed firms for international deals
Oil-rich Gulf monarchies are turning to state-backed firms instead of sovereign wealth funds for international deals, as they aim to diversify their economies and increase global influence. Companies in the United Arab Emirates and Saudi Arabia, many of which are backed by wealth funds, have been involved in at least $50bn worth of deals this year. "This is the biggest shift that we are seeing when it comes to dealmaking in the Middle East," observed Hamza Girach, co-head of Citigroup's Middle East and Africa unit. Dealmaking in the Middle East rose 39% last year, according to a report by Bain & Co.

 

CORPORATE
UAE firm buys 30% stake in Egypt's largest tobacco company
A United Arab Emirates investment firm has purchased a 30% stake in Egypt's largest tobacco company for $625m. The UAE firm, identified as Global Investment Holding Ltd., will also provide $150m to Eastern Company for the purchase of raw materials. The investment is part of Egypt's program to sell state assets and raise foreign currency. The deal follows previous agreements with investors, including Abu Dhabi wealth fund ADQ, to sell stakes in various companies for a total of $1.9bn. The Egyptian program aims to solve the country's foreign-exchange crunch and pave the way for a review of its $3bn program with the International Monetary Fund. Chemical Industries Holding Co. will retain a stake of almost 21% in Eastern Co. Eastern Co. plans to increase its product output by 15% to meet demand.
LEGAL
X updates privacy policy to include collection of biometric data
X, the social network formerly known as Twitter, has updated its privacy policy to include the collection of biometric data. The company stated that it may collect and use biometric information for safety, security, and identification purposes. While X does not define what it considers biometric, other companies have used the term to describe data obtained from a person's face, eyes, and fingerprints. It remains unclear how X will collect and use the data. The social media giant has faced criticism from users and regulators worldwide for its data gathering practices, including targeted advertising. X also plans to gather users' job and education histories to recommend potential jobs, share with employers, and show relevant advertising. The previous policy did not mention biometric data or job and employment history. This update comes after a proposed class action lawsuit alleged that X wrongfully captured and used biometric data without consent. X's new privacy policy aims to address these concerns and provide more transparency to its users.
TRAINING & DEVELOPMENT
Special Report: Upskilling
A series of FT reports considers the challenges facing workers as they learn new skills, including the potential threat to jobs from AI and the slow adoption of virtual reality in training.
HEALTH & WELLBEING
Foulath partners with Motmaena Medical Centre to support employees' mental health
Foulath Holding, an industrial holding company, has partnered with Motmaena Medical Centre to prioritise the mental health and well-being of its employees. The partnership aims to create a safe and positive work environment that caters to the diverse health needs of the employees. Motmaena's mental health practitioners will be available round-the-clock to provide support for various psychological concerns. Foulath Holding's Group CEO, Dilip George, emphasized the company's commitment to the safety and well-being of its employees and highlighted the importance of open communication about mental health. The company has also partnered with Shathr Training Center to deliver UK-accredited qualifications in the field of mental health. Foulath's managers have completed the NOCN Level 3 Award in First Aid for Mental Health and are now equipped to fulfill their roles as Mental Health First Aiders. The company has also enrolled its staff in the NOCN Level 2 Award in Mental Health Awareness.
The bosses helping staff through long-term illness
The FT looks at how by ensuring people with additional needs such as disabilities and health conditions are managed well, employers can help more contribute to the world of work.
DIVERSITY AND INCLUSION
Female surgeons outperform male surgeons in patient outcomes, studies show
The field of surgery has long been dominated by men, but two new studies show that female surgeons may deliver better patient outcomes. In one study involving over 1 million Canadian surgical patients, those treated by a female surgeon were less likely to experience death, hospital readmission, or major medical complications. Another study focused on gallstone removal found that female surgeons outperformed males in terms of outcomes. Female surgeons tended to be more methodical and took longer to complete surgeries compared to their male colleagues. Dr. Martin Almquist suggests that differences in risk-taking attitudes, collaboration skills, and patient-centered decision-making may contribute to the gender gap. He says the studies highlight the need for organizations to support women physicians and encourage young female physicians to choose a surgical specialty. "Surely, the ideal of the surgeon as the [male] 'lonesome cowboy' belongs to an era long gone," says Dr. Almquist.

 

INTERNATIONAL
Artists sue AI image-generators to protect copyrights
Three visual artists are suing artificial intelligence image-generators to protect their copyrights and careers. Kelly McKernan, one of the artists, noticed online images similar to their [sic] own style that were apparently generated by AI. McKernan and two other artists are seeking to protect their copyrights and careers by suing AI tool makers. The case awaits a decision from a San Francisco federal judge. The artists allege that AI image-generators violate the rights of millions of artists by producing derivative works that compete against the originals. The artists are not opposed to AI but don't want to be exploited by it. They are seeking class-action damages and a court order to stop companies from exploiting artistic works without consent. The lawsuit may set a precedent for creators to stop AI developers from profiting off their work. The case was filed against Stability AI, Midjourney, and DeviantArt.
Colombian delivery apps to pay workers' social security
Colombian delivery apps have reached a preliminary deal to guarantee social security payments for 120,000 workers, as the government seeks to boost workers' rights. The deal would require delivery companies, including Rappi Inc., to pay 60% of their workers' health and pension contributions. The agreement falls under President Gustavo Petro's labour reform, aimed at increasing worker rights and the state's role in healthcare and pension provision. The new policy comes as delivery apps face pressure to cut costs and generate profits. Business organisations have warned that more restrictive labour laws may increase unemployment and informality. Rappi, valued at $5.36bn, declined to comment on the deal. "It is very likely that the expenses derived from these regulations end up being carried by sellers and consumers," said analyst Diego Rodríguez.
Japan's PM aims to raise minimum wage to 1,500 yen per hour by mid-2030s
Japanese Prime Minister Fumio Kishida has announced plans to raise the average minimum wage in Japan to 1,500 ($10.29) yen per hour by the mid-2030s. In addition, the government will encourage small and midsize firms to increase investment through a new economic stimulus package. "We want to create a society where everyone can feel the benefits of economic growth," he said.
 


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