More Saudization to yield more work visas

June 9, 2014

Jeddah, Jun 9: The Labor Ministry announced Sunday that it would allow firms in the high and medium green categories of Nitaqat to recruit foreign workers required for the expansion of their business activities.

Work visasHowever, the same privilege will not be available for companies in the lower green, yellow and red categories. “We have clearly mentioned the categories of companies that would benefit from this service,” said Labor Minister Adel Fakeih.

He said companies would be given visas as per their requirements and in line with recruitment conditions, but their status should not decline to lower green as a result of the new recruitment, he said on his Twitter account.

Ziyad Al-Bassam, vice chairman of the Jeddah Chamber of Commerce and Industry (JCCI), said the decision would have limited impact on the labor market as it addresses only those companies that have fulfilled Saudization conditions.

“The real estate sector will be the major beneficiary of this decision,” Al-Bassam told Arab News. It will also benefit tourism companies that have entered the higher green category, he added.

Abdullah Marae Binmahfouz, a member of the JCCI board, said he had requested the minister to allow companies in the lower green and yellow categories to benefit from the service to help them expand their activities. “This is a positive step,” he said while urging the ministry to ease recruitment procedures to boost the market as well as the economy.

“We have made remarkable headway in Saudization, which is a continuing process and will not be limited to a specific time,” he explained.

Abdullah Al-Sharief, an HR expert, said the decision would benefit only a few companies.

He urged the ministry and labor offices to speed up recruitment procedures to meet manpower requirements of various projects.

He also requested the minister to allow sectors such as handicrafts, where Saudization was not successful in the past, to recruit foreign workers.

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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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Agencies
May 17,2020

Abu Dhabi, May 17: Another 731 people have tested positive for coronavirus in the UAE, pushing the total number of COVID-19 infections to 23,358, the Ministry of Health and Prevention announced on Sunday.

Six more deaths from the novel coronavirus have been also confirmed, taking the country’s death toll to 220.

The ministry also announced the full recovery of 581 new cases after receiving the necessary treatment, taking that number up to 8,512 of total recovered patients.

New tests conducted

The latest coronavirus patients, all of whom are in a stable condition and receiving the necessary care, were identified after conducting more than 40,000 additional COVID-19 tests among UAE citizens and residents over the past few days, the ministry said.

It expressed its sincere condolences to the families of the deceased and wished a speedy recovery to all patients, calling on the public to cooperate with health authorities and comply with all precautionary measures, particularly social distancing protocols, to ensure the safety and protection of the public.

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News Network
March 18,2020

Dubai, Mar 18: Emirates, one of the world's biggest international airlines, has asked pilots to take unpaid leave to help it mitigate the impact of the coronavirus pandemic that has shattered demand for global travel.

"To this end you are strongly encouraged to make use of this opportunity to volunteer for additional paid and unpaid leave," the airline said in an internal email to pilots, seen by Reuters.

Emirates earlier this month asked some staff to take unpaid leave, although at that time it was not available to pilots.

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