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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

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.

Gulf countries witness dip in unemployment rates

  • The Gulf countries have taken several measures to increase the employment, especially in the UAE and KSA. This week's TRENDS Infographic looks at job situation in the region
  • The measures have led to an increase in employment in most of the GCC countries, but the Ukraine-Russia crisis, global economic turbulence and Covid-19 may pose challenges

The Gulf Cooperation Council (GCC) countries have taken several measures to increase the local employment, especially the UAE and Saudi Arabia, which requires the private sector to set aside a certain percentage of their jobs for the nationals.

The UAE has amended several legislations and implemented financial support scheme in addition to other benefits to drive work opportunities for both young and experienced Emiratis in the private sector.

The UAE has allocated AED24 billion to support the private sector and create 75,000 job opportunities for Emiratis over the coming few years.

The Emirati Talent Competitive Council aims to increase the competitiveness of Emirati talents and enabling them to occupy 75,000 new jobs in the private sector over the next five years.

GCC countries have also established electronic platforms for hiring their citizens. These platforms provide residents with quick and accessible electronic services for applying for government and private sector jobs.

The measures have led to an increase in employment in most of the GCC countries, but the Ukraine-Russia crisis, global economic turbulence and the aftermath of Covid-19 may pose challenges. TRENDS looks at employment situation in the GCC region: