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Labor law violation: 18,773 companies face action

September 1, 2014

Labor MinistryJeddah, Sep 1: The Labor Ministry has slapped fines worth more than SR10 million on companies after its inspectors found 62,762 labor rule violations during raids carried out over the past nine months. In a report published Sunday, the ministry said its officials conducted more than 200,000 raids to nab violators of labor regulations.

The ministry caught 9,597 people working with employers other than their sponsors, 3,427 violations related to women’s employment at lingerie shops and 2,204 cases of midday work ban violations. “We have transferred 4,377 cases to the preliminary labor committees, 7,681 to the Interior Ministry and 89 to the nationalization panel,” said Abdullah Abuthnain, deputy minister for inspections.

The ministry has stopped services to 18,773 firms for not complying with nationalization conditions, he pointed out. As a result, expats working at these companies will not be able to renew their resident permits.

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News Network
May 6,2020

A massive fire engulfed a residential tower in UAE's Sharjah last night. The building has been identified as one Abbco Tower in Al Nahda.

According to the latest inputs, Sharjah Civil Defence teams rushed to the spot and evacuated all residents. 

Firefighters managed to douse the blaze after several hours. The building in question is reportedly a 48-storey structure. Officials are yet to reveal the cause of the fire.

All residents of the building were evacuated while seven incurred minor injuries during the evacuation and were treated at local hospitals, reported the United Arab Emirates' local media.

More details are awaited as this is a developing story.

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January 15,2020

Asia, Jan 15: Iranian Foreign Minister Javad Zarif on Wednesday said that killing of Iranian general Qassem Soleimani showed the ignorance and arrogance of the United States and asserted that Washington looks at things from their perspective and not keeping the interests of the region in mind."The US looks at things from their perspective, not from the perspective of this region. The killing of Qassem Soleimani shows ignorance and arrogance. 430 Indian cities saw protests against killing of Soleimani," Zarif said at an event.

Hitting out at US President Donald Trump and Secretary of State Michael Pompeo, Zarif said that they were the only ones, along with the Islamic State (ISIS) who celebrated the death of Soleimani.

"Who is celebrating Soleimani's killing? President Trump, Pompeo and Daesh (Arabic name of ISIS). You wonder about strange bedfellows?" he said.

Tensions between the US and Iran soared dramatically earlier this month after Washington launched airstrikes at Baghdad International Airport, which killed Soleimani. Tehran retaliated by firing a volley of ballistic missiles at two military bases of US-led coalition forces in Iraq, leading to a strife in the region.

However, Zarif regretted the shooting down of the Ukrainian airline and said it happened because of "tension".

"Nine million people were out in the streets of Iran commemorating Soleimani. You cannot bring out so many people to protest. The shooting down of a plane was a mistake. 180 families are mourning the loss of their dear ones. It happened because of tension," he said.

Asked whether there a chance of a diplomatic solution to the ongoing crisis, Zarif ruled out negotiating with the US.

"Iran is interested in diplomacy. We are not interested in negotiating with the US. US did not keep its commitments under nuclear deal. We had a US deal and the US broke it. If we have a Trump deal, how long will it last?" he said.

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Agencies
July 28,2020

Dubai, Jul 28: Abu Dhabi Commercial Bank (ADCB) (ADCB.AD) is letting go hundreds of employees, sources said, the latest in a round of lay-offs by regional banks as pressure mounts to cut costs amid lower oil prices and the coronavirus crisis.

The UAE’s third-biggest lender is laying off 400 employees, two sources familiar with the matter said, after it had committed to not cutting staff because of the crisis.

In a statement, a spokesman said ADCB had pursued efficiency over the last decade by managing out its lowest underachievers after regular reviews, while ensuring talent was deployed in high-growth areas, such as digital banking.

“A certain number of redundancies are therefore expected every year in the normal course of business,” the bank spokesman added.

The sources said the cuts would involve ADCB’s consumer business and several in top management were among those being let go. One source said the bank was looking to close 20 branches.

In March, ADCB had declared, “No employee will be made redundant during 2020 as a result of the COVID-19 pandemic.”

UAE banks have been hit by government measures to rein in the spread of the virus, forcing many businesses to shut temporarily.

Last week, Dubai’s largest bank, Emirates NBD, reported a slump of 58% in profits. In June, sources told Reuters the bank started a new round of hundreds of lay-offs.

In May, ADCB reported a fall of 84% in first-quarter net profit as it took impairments of $292 million on debt exposure to troubled hospital operator NMC Health and payments group Finablr.

It was a major lender, with an exposure of about $981 million, to NMC Health, which went into administration this year after months of turmoil following questions over financial reporting.

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