Most companies are opting to maintain existing workforce levels, with subdued demand growth and global market shifts prompting a cautious approach.
The latest Purchasing Managers...
Oman’s Nama Power & Water Procurement Company has received competitive bids from 12 major global and regional developers for its strategic Independent Power Projects...
However, the General Organization for Social Insurance, has clarified that the new Social Insurance Law will apply only to new employees joining the workforces in the public and private sectors who do not have any prior contribution periods in the current Civil Pension or Social Insurance Laws.
For 2024, the forecast is set even higher, with an anticipated contribution of 12% to the UAE’s GDP, equating to AED 236 billion, says Abdullah bin Touq Al Marri, Minister of Economy.
The Public Investment Fund (PIF), has made a substantial move by acquiring a 51% stake in Tawal, the largest telecommunications infrastructure company in Suadi Arabia.
AI will contribute to the UAE’s net zero strategic initiative by 2050 and help unlock advances in climate progress, says H.E. Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology.
However, the GCC growth will still outperform the wider Middle East and North Africa region, forecast to grow by 3% in 2023, down from 5.8% growth in 2022.
