Employment Kuwait laying off 750,000 Egyptian workers Kuwait has announced it will lay off 250,000 Egyptian workers next month and suspend all contracts with non-nationals. Some 500,000 further Egyptian workers will lose their jobs over the next year as the Gulf country seeks to remove all expatriate workers across sectors, according to Middle East Monitor. Egyptians make up around 24 per cent […] August 23, 2022
Analysis Employment Indian workers return to Gulf in their droves The demand for skilled, semi-skilled and unskilled Indian workers has increased “drastically” as a rebound in Gulf economic growth signals the end of the coronavirus-induced reverse migration of workers from the region. An increase of nearly 50 percent in fresh migration to the six Gulf Cooperation Council (GCC) members – including the UAE, Saudi Arabia, […] August 19, 2022
Exclusive Tourism Diriyah CEO sets date for first stage of $50bn project The first phase of Saudi Arabia’s $50.6 billion project to transform the historic Diriyah district will open later this year, its boss has told AGBI. Jerry Inzerillo, group CEO of the Diriyah Gate Development Authority, said the public would be able to visit the restored UNESCO World Heritage site at At-Turaif and the Mattal Al […] August 3, 2022
Analysis Lifestyle Kuwait City leads the world for billionaires Kuwait City is home to more billionaires per capita than anywhere else in the world, according to the latest data. The Gulf capital boasts one billionaire for every 33,090 inhabitants, making it the most densely populated city for those with more than ten digits of wealth, reports the Billionaire Census 2022 from New York-based consultancy […] August 2, 2022
Analysis Economy Mixed reception for UAE’s Golden Visa discount programme Some experts accuse initiative of being mere ‘window dressing,’ while others praise its ingenuity Dubai has bolstered its Golden Visa scheme with associated discounts to help attract high-level entrepreneurs, doctors, academics and creatives to its shores. The government announced this week that it would provide its Esaad privilege card – originally only for public sector employees […] July 21, 2022
Opinion Economy British firms tread fine line against rising inflation in the UAE The ‘discount culture’ is making it harder for businesses to maintain quality in a crowded market July 20, 2022
Economy Oman decrees locals to take over 200 professions from expats Oman’s Ministry of Labour (MoL) is to Omanise 207 professions. The decision regulates the practice of professions including administrative director, director of personnel affairs, director of public relations, security supervisor, general manager, deputy director, social service specialist, social welfare specialist, social psychology specialist, social worker, student activities specialist and flight operations inspector. The decision also […] July 19, 2022
Lifestyle Welcome to Kuwait, the world’s worst expat destination They say they are unhappy with career opportunities, fed up with the poor quality of life, find it difficult to settle and rarely talk to “unfriendly” locals. It’s no wonder that expats in Kuwait have voted it the worst place in the world to live and work. Kuwait not only ranks last of all 52 […] July 12, 2022
Make it happen Employment How to hire (and retain) overseas talent in the Gulf Tax-free salaries alone are not sufficient to attract skilled employees: they demand career prospects and a trusting work culture too July 4, 2022
Exclusive Food & Drink $500-an-hour sobriety coach helps Dubai’s big drinkers Dubai’s work-hard, play-hard expat party lifestyle, and its famous all-you-can-drink weekend brunches can be the perfect breeding ground for potential alcoholics, according to the founder of a new $500-an-hour sober coaching service. British sober and recovery coach, David Golding, relocated to Dubai nearly four months ago and has launched Sober Lifestyle Coaching, a 13-week recovery […] July 1, 2022
Real Estate Zero-carbon smart city in Riyadh to house 44,000 A Dubai-based architecture firm is working on designs for a 10km2, zero-carbon smart city in Saudi Arabia which will provide homes for 44,000 people. URB, which is headquartered in Dubai Design District, said it has completed the concept stage for ALNAMA Smart City and will soon begin the detailed design stage. Set to be located […] July 1, 2022
Analysis Employment Saudi unemployment rate drops as over 1 million expats leave The unemployment rate among Saudi nationals, especially women, continues to decline, as the latest data from the Saudi General Authority for Statistics (GASTAT) also showed that over a million expats left the kingdom during the pandemic. The population at the mid-year point in 2021 was 34.1 million, a 2.6 percent year-on-year decrease. Foreign workers and […] July 1, 2022
Tourism UK’s offer of visa-free travel to UAE hailed as ‘historic’ step The addition of the UAE to the list of countries eligible for visa-free travel to the UK is “historic” and will drive further growth in both economies, officials and experts have told AGBI. The British government announced on Monday that the UAE would be added to its new electronic travel authorisation (ETA) system in 2023, […] June 28, 2022
Opinion How global brands can get on the road to Babylon The scars of war are rarely seen as Iraq opens its doors to international business June 23, 2022
Exclusive World Cup 2022 Most lavish World Cup package costs $1.6m – hotel not included UAE residents have bought 7,500 hospitality packages for the Qatar World Cup, with the most expensive option costing an eyewatering $1.6 million. Football fans wanting to attend Qatar 2022 matches have two routes: FIFA's ticket lottery, where prices start at 40 riyals ($10.99) for Qatar residents or 250 riyals for international supporters, or one of the official hospitality packages, which begin at $950. June 21, 2022
Entrepreneurs How I got to the top: Erika Blazeviciute Doyle, Drink Dry What does your company do? Drink Dry is the UAE’s first and only non-alcoholic drinks marketplace. We aspire to open the world to new and better ways of drinking. We sell and distribute premium non-alcoholic drinks in the UAE, Kingdom of Saudi Arabia and Kuwait. What inspired you to develop your idea? The business idea […] June 17, 2022
Opinion Rates rise has come too late to curb inflation Difficult times lie ahead for those already struggling with the cost of living June 16, 2022
Analysis Banking & Finance Foreign government workers to benefit from new saving scheme A new savings scheme for foreign employees working in Dubai Government, which aims to enhance the end-of-service benefits system, is set to come into effect on July 1. Dubai International Financial Centre (DIFC), the entity responsible for supervising the implementation of the Savings Scheme for Foreign Employees in the Government of Dubai, has held several […] June 15, 2022
Lifestyle Saudi slips and UAE soars as millionaires seek new homes Saudi Arabia is forecast to lose 600 high net worth individuals this year while the UAE is set to gain 4,000, according to a new report June 15, 2022
Real Estate One in five queries for Dubai homes from Russians Russian speaking investors continue to look to the emirate’s real estate for deals, as the ongoing Russia-Ukraine conflict intensifies Investors from Russia and the 11 other Commonwealth of Independent States (CIS) countries now represent more than 20 percent of potential homebuyers in Dubai. The average ticket size ranges from AED 2.5 million ($680,000) for individuals […] June 2, 2022
Exclusive Banking & Finance UK $350m venture capital fund sees Dubai on the Horizon Founder of London-based Digital Horizon targets investment potential in UAE startups London-based venture capital fund Digital Horizon is targeting the UAE for growth, with investments in its first Dubai-based startups expected to be completed later this year. Alan Vaksman, founder and general partner of Digital Horizon, which has $350 million of assets under its management, […] May 26, 2022
Analysis Lifestyle Get ahead in the Gulf with our networking advice This month’s guide on how to succeed in the Middle East offers essential tips on business practices and social etiquette The Middle East is rich in opportunity for businessmen and women, but entrepreneurs keen to forge partnerships need to remember that norms and practices can vary from those in Europe or the US. The region […] May 23, 2022
