Global issues slowing down labor market recovery: ILO

• The sharp rise in vacancies in advanced economies led to a tightening of labor markets with a growing number of jobs available relative to job seekers.
• But, it dropped in Q1 2022 to 3.8 percent below pre crisis benchmark (Q4 2019), amounting to a deficit of 112 million full-time jobs.

Standard Chartered, flydubai sign deal

• Four of the aircraft were delivered between March and May 2022, while the remaining aircraft is scheduled to arrive from Boeing before the end of the first half of the year.
• The deal was structured, financed and arranged exclusively by Standard Chartered.

Dubai records $386 million in real estate transactions on Monday

• The sales included 427 villas and apartments worth AED 878.57 million, and 125 land plots worth AED 540.79 million.
• The emirate's real estate market recorded the highest number of transactions since 2010 registered in a single quarter and the highest volume since Q1 2014.

SRTI Park launches Advanced Industry Accelerator 2.0

• The accelerator programme will provided local and regional start-ups with innovative solutions and strong support system within the thriving SRTI Park ecosystem
• SAIA 2.0 is also in line with the UAE’s industrial strategy 'Operation 300bn', a 10-year comprehensive policy aimed at empowering and expanding the industrial sector

Hosting FIFA World Cup 2022 will give hope to youth in GCC, says Qatar’s emir

‘Central bank digital currencies can transform financial system’

• More countries are experimenting with CBDCs and some are beginning to bring them to market, potentially offering lessons for the rest of the world
• Some of the questions that were debated included the macroeconomic and geopolitical implications surrounding the roll-out of CBDCs

Dubai Chamber of Commerce reports 55% membership growth in April 2022

• The new member companies joining Dubai Chamber of Commerce in April 2022 reached 3,056, bringing the Chamber's total membership to 300,000 companies
• The value of members' exports and re-exports in April 2022 amounted to AED20.2 billion, growing by 16.7 percent from the AED17.3 billion posted in April 2021

Alpha Dhabi to invest in Borouge IPO

• Alpha Dhabi's investment comes as the company continues to scale its highly diversified portfolio, it said.
• The company said petrochemical vertical remains a key target sector for it.

Global ESG assets could reach $50 trillion by 2025 : PIF Governor

• PIF is developing its ESG strategy due to its broader long term strategy aimed at achieving net zero emissions in the country by 2060.
• The PIF governor also revealed that Saudi Arabia has launched seven solar and wind projects that could power 600,000 households.

Saudi Arabia re-elected as chair of ALECSO’s Executive Council

• The Arab ministers praised the initiative of the Chairman of the Executive Council of ALECSO, Hani bin Moqbel Al-Moqbel, to develop the Council’s road map
• Al-Moqbel thanked Saudi King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman Al Saud for the constant support