Saudi labor minister changed; top religious body, Shoura reshuffled

Abu Dhabi, May 25: Dusty weather to persist in the UAE on Monday as well with a chance of rainfall in parts of the country, the national Met department reported.

According to the NCM, the weather today will be fair to partly cloudy, with a chance of some convective clouds formation by afternoon - eastward and northward - extending to some internal areas that may be associated with some rainfall.

The weather will get humid by night and Tuesday morning over some coastal areas.

NCM predicts a wet Eid break.

طريق كلباء #الشارقة ⁧#المركز_الوطني_للأرصاد⁩ ⁧#أمطار_الخير⁩ ⁧#أصدقاء_المركز_الوطني_للأرصاد⁩ ⁧#حالة_الطقس⁩ ⁧#حالة_جوية⁩ ⁧#هواة_الطقس⁩⁩ pic.twitter.com/i4gjYfgTwj

— المركز الوطني للأرصاد (@NCMS_media) May 25, 2020

أمطار غزيرة على فلي (الشارقة)
#أمطار#أمطار_الخير #استمطار #تلقيح_السحب #المركز_الوطني_للأرصاد
Heavy rain over Fili (Sharjah)
#Rain #Cloud_Seeding #NCM

— المركز الوطني للأرصاد (@NCMS_media) May 25, 2020

أمطار غزيرة على المنيعي (رأس الخيمة)
#أمطار#أمطار_الخير #استمطار #تلقيح_السحب #المركز_الوطني_للأرصاد
Heavy rain over Al Manaie (Ras Al Khaimah)
#Rain #Cloud_Seeding #NCM

— المركز الوطني للأرصاد (@NCMS_media) May 25, 2020

Sharjah Police issued a weather warning as heavy rain flooded roads in Sharjah's Kalba among other areas.

#Alert #NCM pic.twitter.com/RnFy0WtK3H

— المركز الوطني للأرصاد (@NCMS_media) May 25, 2020

مليحة ⁧#الشارقة⁩ ⁧#المركز_الوطني_للأرصاد⁩ ⁧#أمطار_الخير⁩ ⁧#أصدقاء_المركز_الوطني_للأرصاد⁩ ⁧#حالة_الطقس⁩ ⁧#حالة_جوية⁩ ⁧#هواة_الطقس⁩ #عبدالله_القايدي pic.twitter.com/rKhJG4mIzN

— المركز الوطني للأرصاد (@NCMS_media) May 24, 2020

طريق #الشارقة #كلباء #المركز_الوطني_للأرصاد #أمطار_الخير #أصدقاء_المركز_الوطني_للأرصاد #حالة_الطقس #حالة_جوية #هواة_الطقس #عبدالله_الشامسي pic.twitter.com/YDX91G6jaZ

— المركز الوطني للأرصاد (@NCMS_media) May 25, 2020

ننوه الأخوة السائقين بتوخي الحيطة والحذر أثناء القيادة وخاصةً على الطرق الخارجية للإمارة وذلك بسبب هطول أمطار الخير،
كما ندعو السائقين إلى توخي الحيطة والحذر والابتعاد عن أماكن جريان الاودية وترك مسافات كافية بين المركبات وتخفيف السرعات والحرص على التعامل مع الطريق بحذر

— شرطة الشارقة (@ShjPolice) May 25, 2020

Moderate to fresh winds will gain strength during the day causing blowing dust and sand.

The sea will be slight to moderate in the Arabian Gulf and in Oman Sea.

Earlier on Sunday, a weather alert was issued by authorities as moderate to heavy rain - accompanied with hail - lashed parts of the UAE. A rainbow in Dubai skies cheered up residents, celebrating a unique Eid this year amid the coronavirus Covid-19 pandemic - by mostly staying home.

Dubai, May 7: Saudi Arabia will emerge as the victor of the oil price war that sent global crude markets into a spin last month, according to two experts in the energy industry.

Jason Bordoff, professor and founding director of the Center for Global Energy policy at New York’s Columbia University, said: “While 2020 will be remembered as a year of carnage for oil nations, at least one will most likely emerge from the pandemic stronger, both economically and geopolitically: Saudi Arabia.”

Writing in the American publication Foreign Policy, Bordoff said that the Kingdom’s finances can weather the storm from lower oil prices as a result of the drastically reduced demand for oil in economies under pandemic lockdowns, and that it will end up with higher oil revenues and a bigger share of the global market once it stabilizes.

Bordoff’s view was reinforced by Sir Mark Moody-Stuart, former chairman of Royal Dutch Shell and one of the longest-standing directors of Saudi Aramco. In an interview with the Gulf Intelligence energy consultancy, he said that low-cost oil producers such as Saudi Arabia would emerge from the pandemic with increased market share.

“Oil is the only commodity where the lowest-cost producers have contained their production and allowed high-cost producers to benefit. When demand recovers this year or next, we will emerge from it with the lowest-cost producers having increased their market share,” Moody-Stuart said.

Bordfoff said that it would take years for the high-cost American shale industry to recover to pre-pandemic levels of output. “Depending on how long oil demand remains depressed, US oil production is projected to decline from its pre-coronavirus peak of around 13 million barrels per day.

“Shale's heady growth in recent years (with production growing by about 1 million to 1.5 million barrels per day each year) also reflected irrational exuberance in financial markets. Many US companies struggling with uneconomical production only managed to stay afloat with infusions of cheap debt. One quarter of US shale oil production may have been uneconomic even before prices crashed,” he said.

Moody-Stuart said that recent statements about cuts to the Saudi Arabian budget as a result of falling oil revenues were “an important step to wean the population of the Kingdom off an entitlement feeling. It means that everybody is joining in it.”

The former Shell boss said that other big oil companies would follow Shell’s recent decision to cut its dividend for the first time in more than 70 years. But he added that Aramco would stick by its commitment to pay $75 billion of dividends this year.

“When a company looks at its forecasts it looks ahead for one year, so for this year it (the dividend) is fine,” he said.

Bordoff added that Saudi Arabia’s action in cutting oil production in response to the pandemic would improve its global position.

“Saudi Arabia has improved its standing in Washington. Following intense pressure from the White House and powerful senators, the Kingdom’s willingness to oblige by cutting production will reverse some of the damage done when it was blamed for the oil crash after it surged production in March,” he said.

“Only a few weeks ago, the outlook for Saudi Arabia seemed bleak. But looking out a few years, it’s difficult to see the Kingdom in anything other than a strengthened position,” Bordoff said.

Dubai: There aren’t that many job vacancies right now – but be prepared for a 15-20 per cent cut in salary expectations even for those positions that are still open. Businesses in the UAE are definitely not in a generous mood when it comes to hiring, with salary cuts now part of the new normal.

And they are definitely not willing to take on new hires without extracting some cost benefit from them. “We have seen major [salary] cuts across the board in hospitality, real estate, professional services and in retail,” said Vijay Gandhi, regional head at Korn Ferry Digital, the recruitment consultancy.

“And once the headcount correction is complete in [the local] financial services and energy sector, we may see more cuts in rewards and benefits in these categories as well.”

The salary cuts are slowly extending their way into the healthcare sector as well – just about every non-COVID-19 facing medical category is coming across cuts in the number of working hours and, by extension, their take home packages.

By end of June, more businesses and sectors in the UAE will have a better understanding of their short-term revenue prospects. By then, they will also have a better reading on what their staff strength should be – and whether there should be more trimming of the workforce. Or whether they should consider a few hires as well.

A long summer
So, realistically, it could be September before such decisions need to be taken. The coming weeks will then prove to be laden with anxiety for those who are expecting to land a job option after being laid off at their current employers.

There are multiple instances of recruitment decisions having been made in February/March, and then the companies rescinding those offers to the chosen candidates citing the business uncertainty.

“The decision to hire is taking longer – so job creation is now 4-6 weeks from interview and selection compared to 4-6 days in the past,” said Gandhi.

The lucky ones
Recently, free zones and other entities had made it easier for personnel on the visa of one entity being able to smoothly transfer to another if they are likely to be made redundant. “We are seeing more flexibility being offered by the authorities given the circumstances, and the visa transfer process is happening,” said Gandhi.

“But in the vast majority of cases, businesses are going to wait and watch before normal hiring activity starts. Organizations will look to hire from September.”

A few hires are still happening
Even in the business turmoil set off by COVID-19, a few categories are still offering jobs. At the entry level, logistics services personnel and drivers with experience remain in demand.

Not just “routine jobs, there have been confirmations in more technical roles such as procurement and operations in healthcare and e-commerce,” said Gandhi. “Employers should keep an eye for good talent and have the talent acquisition team actively looking for good profiles.

“As such, organizations are not only looking at “right sizing” in numbers but also “future proofing” on what kind of skilled talent will help them in the post-COVID-19 world.”

But for the candidates, the present will be about waiting around for the call to come.