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Middle East Edition
4th July 2025
 
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THE HOT STORY

Saudization 'employs 2.5m citizens in private sector'

Saudi Arabia's Ministry of Human Resources and Social Development has said that Saudization initiatives have successfully generated jobs for 2.48m Saudi men and women. The Human Resources Development Fund (HADAF) played a crucial role by employing 143,000 citizens in the first quarter of 2025, with investments in training and empowerment reaching approximately SR1.83bn ($487.9m). The unemployment rate among Saudis has dropped to a historic low of 6.3%, surpassing the Kingdom's Vision 2030 target of 7% six years early. Notably, Saudi women's participation in the workforce has also improved, with the female unemployment rate falling to 10.5%, down from 11.9% in late 2024. The progress is indicative of the effectiveness of the National Labor Market Strategy aimed at enhancing the national workforce and fostering private sector partnerships, the HR ministry said.
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EBOOK

Responsible AI Starts Here: The Executive Guide to Azure OpenAI

As AI adoption accelerates, one question looms large for senior leaders: how do you unlock its full potential without exposing your business to unnecessary risk?

Securing Microsoft Azure OpenAI  - normally $44, download at no cost while this offer lasts - created to help leaders safely and confidently deploy AI at scale. It offers practical insights into using GPT-4o, DALL·E, and other advanced models securely within Microsoft Azure’s enterprise-grade environment.

Inside the guide:
  • Best practices for responsible AI integration
  • Risk mitigation strategies every business should know
  • Real-world use cases across sectors
  • Privacy, compliance, and governance essentials
If your organization is exploring AI at scale, this is essential reading for building trust, control, and competitive edge.

Download now and future-proof your AI strategy

 
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STRATEGY

Bumble chief criticises staff for ‘freaking out’ over London job cuts

Bumble chief executive Whitney Wolfe Herd has criticised staff for “freaking out” after announcing the online dating company would eliminate more than 160 roles in London, warning that drastic cost-cutting measures were needed as “dating apps are feeling like a thing of the past.” Wolfe Herd said the company's “centre of gravity” would move to the US where the “talent pool is right now.” She said that “London’s not the first choice, that’s the frank reality.”
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CORPORATE

Almost 45% of CFOs say half of business travel could be replaced by virtual meetings

According to SAP Concur’s 7th Annual Global Business Travel Report, 43% of chief financial officers believe more than half of their company’s travel could be replaced by virtual meetings. The study, based on the responses of 600 CFOs, 700 travel managers and 3,750 business travelers, shows that although most CFOs are still allocating towards travel budgets, some are increasingly questioning the value of travel given the high costs, fraud potential and risk it puts on the business. A large majority (90%) of CFOs expect travel budgets to stay flat or rise in 2025. Data shows that although most CFOs are still allocating towards travel budgets, some are increasingly questioning the value of travel given the high costs, fraud potential and risk it puts on the business.

 
CFO
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TRAINING & DEVELOPMENT

CINET launches program to empower a future-ready workforce

Kuwait Credit Information Network Company (CINET), a provider of credit information and credit scoring, has launched an internship program designed to build student and graduate capabilities in cybersecurity and data science. Through field training, CINET aims to empower young Kuwaiti talent. Sarah N. AlZaabi, chief human resources officer at CINET, said: “At CINET, we fully recognize that attracting and nurturing national talent is central to our social responsibility. Our ongoing efforts to engage and elevate local competencies stem from our firm belief that human capital is the true cornerstone of progress.”
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ECONOMY

Push for debt payment pauses

Wealthy creditor nations and multilateral lenders have launched the Debt Suspension Clause Alliance, which is aimed at allowing sovereign borrowers to pause debt payments during crises such as climate events or humanitarian emergencies. Launched at a UN conference in Seville, the initiative seeks to standardise clauses in public and commercial lending that would provide temporary relief, enabling countries to allocate resources for recovery without jeopardising their financial stability. Jose Manuel Albares, Spain's Foreign Minister, noted that these clauses could also extend to situations of war.
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TECHNOLOGY

Grammarly makes new AI acquisition

Grammarly has announced its acquisition of the email efficiency tool Superhuman, aiming to enhance its artificial intelligence (AI)-driven productivity suite. Superhuman, valued at $825m in 2021 and generating approximately $35m in annual revenue, will continue to operate under its brand with its chief executive Rahul Vohra joining Grammarly to leverage greater resources for AI development.
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INTERNATIONAL

Parental leave and pay for new UK parents to be reviewed

The amount of time off and pay new parents in the UK can get after the birth of a child will be looked at in a "landmark" review, the government says. Ministers say they want to modernise the system across paternity, maternity and shared parental leave, which campaigners say has been "overlooked for years." Business Secretary Jonathan Reynolds has said the current system is "really confusing," with eight different types of parental leave available, and "is not particularly generous or supportive compared to other countries." Reynolds said one in three fathers takes no paternity leave and "hardly anyone" takes shared parental leave. He said the review - which is expected to take 18 months - is needed because the parental leave system has not been reformed in decades, during which time both working habits and families have changed.

Arrest and indictments in North Korean 'IT worker' scheme

The US Department of Justice (DOJ) and FBI have announced an arrest and indictments related to North Korea's "IT worker" programme, which saw North Koreans secure remote IT jobs at over 100 US companies. The North Koreans allegedly stole around $900,000 in cryptocurrency from a Georgia-based firm and sensitive data from a California defence contractor. Zhenxing “Danny” Wang and Kejia Wang, both U.S. citizens, were indicted as part of the operation, according to the DOJ. Zhenxing Wang was arrested in New Jersey, while Kejia Wang remains free. The two men, along with four other unnamed US “facilitators,” assisted the North Koreans by procuring and operating laptops used by the overseas workers, created financial accounts to receive money earned by the workers to be sent back to North Korea, and created shell companies to make the workers appear more authentic, Reuters reports.

Glovo pauses contested heatwave bonus for couriers in Italy

Food delivery platform Glovo has suspended a "heat bonus" for its couriers in Italy amid criticism from labour unions and politicians. Glovo recently introduced the bonus, worth just a few euro cents per delivery and rising in step with temperatures, to compensate riders working during a blistering heatwave in which the government has issued a red alert for 18 cities. Labour unions criticised the scheme, saying it encouraged gig workers to continue riding their scooters during the fierce heat. "Glovo resolved to suspend at national level the bonus system for deliveries during the hottest hours of the day," the company said in a statement.

Binance to keep hundreds of staff in Singapore despite crackdown

Binance, the world's largest digital-assets exchange, plans to retain hundreds of remote workers in Singapore despite the Monetary Authority of Singapore's (MAS) crackdown on unlicensed crypto firms. The MAS had set a deadline of June 30 for crypto companies operating offshore to cease activities, but sources indicate that Binance's operations will remain largely unaffected. Over 400 Binance employees are based in Singapore, focusing on back-office roles such as compliance and data analysis. Chief executive Richard Teng previously described the company as “remote-first.” The MAS clarified that individuals working for foreign firms providing services outside Singapore would not require licensing, creating a grey area regarding the definition of a "place of business."
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OTHER

Dubai's dining scene feels the heat of high costs and failure rates

In Dubai, over 13,000 food and drink establishments are vying for attention in a highly competitive market. Executive chef Torsten Vildgaard of FZN by Björn Frantzén said: “We're only seeing the tip of the iceberg of what's to come in terms of gastronomy here”. The city attracts tourists who spend significantly more than those in neighbouring countries, but the rapid growth raises concerns about sustainability. Despite these challenges, Dubai continues to issue new restaurant licenses, reflecting its ambition to become a global food capital, and despite fears that expansion may create a bubble in the industry.
 
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