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Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

Saudi construction sector employs 3 million workers

  • The Gulf Cooperation Council countries have a high reliance on foreign labor. In 2020, foreign workers accounted for 60 percent of the total labor force.
  • GCC countries face high unemployment among nationals, shortage of skilled labor and a mismatch between the skills of nationals and the requirements of the labor market.

Dubai, UAE — The Gulf Cooperation Council countries have a high reliance on foreign labor. In 2020, foreign workers accounted for 60 percent of the total labor force in the GCC countries, mostly in the construction and manufacturing sectors. They face high unemployment among nationals, shortage of skilled labor and a mismatch between the skills of nationals and the requirements of the labor market. The governments are addressing labor market challenges by promoting vocational training and education for nationals, introducing quotas on foreign workers, facilitating the recruitment of skilled labor and encouraging female participation in the labor market. Here is the distribution of the labor force across five major sectors in the GCC countries: