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Middle East Edition
15th May 2026
 
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THE HOT STORY

Iran's economy in freefall amid war

Iran’s economy has deteriorated sharply after two and a half months of war, ceasefire and blockade, with prices for some goods tripling or quadrupling, at least 2m people losing income, and the currency falling 60%. The internet shutdown has devastated online businesses, with small e-shop owner Sarina saying: “We are all just trying to buy food and keep a roof over our heads.” Start-ups are also cutting staff as demand falls, public-sector payments stall, and inflation disrupts supply chains. Saman, a start-up chief executive, warned that hunger could trigger another major protest as families exhaust savings. Food costs have become unaffordable for many pensioners, while tech firms forecast that one in five cyberspace jobs may disappear. The crisis follows years of sanctions, corruption and mismanagement that had already weakened household finances.
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WORKFORCE

UAE launches skills platform for future

The UAE has launched the UAE Skills Platform to connect education with labour market needs. This initiative aims to create a skills-based ecosystem that aligns educational outcomes with economic demands. Sheikh Abdullah bin Zayed Al Nahyan emphasised the importance of developing talent for future economic growth. The platform, which serves over 200,000 students and 200 educational institutions, uses data-driven insights to guide academic and career decisions. Dr Abdulrahman bin Abdulmanan Al Awar stated: "The UAE Skills Platform represents a strategic step towards strengthening integration between the education ecosystem and the labour market." The platform supports lifelong learning and skill development.

Oman introduces new worker health checks

Oman's Ministry of Labour will implement a mandatory pre-arrival medical examination and visa processing system for workers from the Philippines starting on May 18. The ministry stated that the initiative aims to enhance the efficiency of expatriate recruitment procedures. Recruitment agencies must follow approved protocols, including completing medical examinations via a designated electronic platform before workers arrive in Oman. The ministry will also distribute operational guidelines to overseas recruitment agencies in collaboration with the Philippine Embassy in Oman.
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HIRING

Gulf recruitment rebounds after ceasefire

Recruitment activity in the Gulf countries rebounded in April 2026 following a ceasefire announcement on April 8, according to Cooper Fitch. The hiring market, which contracted by 12% in March due to regional conflict, showed a 13% recovery in April. Dr Trefor Murphy noted that while the rebound reflects pent-up demand, it does not indicate sustained growth. Key sectors driving this recovery include real estate, finance, and HR, with technology and supply chain also seeing marginal increases. The overall market demonstrates resilience despite previous disruptions from the conflict.
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LEGAL

US law firm sued for terminating Palestinian lawyer's job offer

Yasmeen Elagha, a Palestinian Muslim lawyer, has filed a lawsuit against law firm DLA Piper in the US District Court for the Northern District of Illinois, alleging discrimination based on race, religion, and national origin. Elagha claims that her employment offer was unlawfully terminated after the firm saw press reports regarding her involvement in pro-Palestinian protests. Additionally, she asserts that DLA Piper fostered a hostile work environment during her tenure as a summer associate while attending Northwestern University's Pritzker School of Law. Elagha previously sued Northwestern for not protecting her from similar issues.

Air India fired over 1,000 staff in past three years over 'ethical breaches'

Outgoing Air India chief executive Campbell Wilson urged employees to uphold ethical standards during a recent town hall meeting. Over the past three years, the airline has terminated more than 1,000 employees for ethical breaches, including theft and misuse of travel schemes. Wilson warned that 2026 will be "a very, very difficult year" due to the ongoing Middle East conflict. Air India, which employs around 24,000 people, reported a loss exceeding Rs220bn for the financial year ending March 31, 2026. The airline faces significant challenges, including rising fuel costs and airspace restrictions, impacting operations and profitability.
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LEADERSHIP

UAE–India leaders program boosts collaboration

The UAE–India Leaders Program has engaged 60 Emirati professionals and university students in immersive learning experiences across three key areas: international relations, science and technology, and arts and culture. Following their visits to India, participants are now developing capstone projects aimed at enhancing UAE–India collaboration. A spokesperson from the Zayed Education Foundation stated: "We are investing in a new generation of leaders imbued with compassion and curiosity." The program reflects a commitment to nurturing principled leaders who can navigate complexities and foster international partnerships.
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TRAINING & DEVELOPMENT

Empowering Emirati talent in nuclear energy

The Emirates Nuclear Energy Company (ENEC) has partnered with the Department of Government Enablement – Abu Dhabi (DGE) to enhance training and employment opportunities for UAE Nationals in the civil nuclear energy sector. The five-year agreement aims to qualify at least 100 Emiratis with various educational backgrounds. DGE's Mawaheb Talent Hub will assist ENEC by providing candidates and facilities for training. Mohamed Al Hammadi, ENEC's managing director, emphasised the importance of this initiative for developing a skilled workforce to support the UAE's carbon-free future. Ibrahim Nassir from DGE highlighted the commitment to investing in Emirati talent.

Nestlé Academy graduates new talent

Nestlé Saudi Arabia, in partnership with the Ministry of Human Resources and Social Development, celebrated the graduation of 15 students from the “Nestlé Academy” program. The initiative aims to enhance local talent and prepare participants for the job market. The training included theoretical and practical components, field visits, and career guidance sessions. Robert Helou, chief executive of Nestlé Saudi Arabia, said: “We are delighted to graduate the tenth cohort of the Nestlé Academy program.” The programme aligns with Saudi Vision 2030, focusing on developing national capabilities and empowering youth in key sectors.
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TECHNOLOGY

Sharjah AM wins digital award

Shaikh Asset Management has received the Digital Transformation Development Award in Human Resources Management for its achievements in enhancing workplace processes. Chief executive of support services Saeed Sharar said: “This achievement marks an important milestone in the company's journey towards institutional excellence.” The award reflects the company's commitment to innovation and efficiency through digital solutions. Sharjah Asset Management aims to improve both customer and employee experiences by developing digital services and promoting a sustainable digital transformation culture, while implementing automation and artificial intelligence initiatives.
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INTERNATIONAL

AI agent runs Swedish café

In Stockholm, the Andon Café is testing the limits of artificial intelligence with an AI agent named "Mona" which oversees operations while human baristas serve coffee. The experimental café, which has been set up by San Francisco-based start-up Andon Labs, has made more than $5,700 in sales since it opened in mid-April, but less than $5,000 remains from its original budget of more than $20,000, much of which was spent on one-time setup costs. Emrah Karakaya, an associate professor of industrial economics at Stockholm's KTH Royal Institute of Technology, says putting AI in charge could cause many problems - for example, the apportioning of responsibility if a customer gets food poisoning. “If you don't have the required organisational infrastructure around it, and if you overlook these mistakes, it can cause harm to people, to society, to the environment, to business,” Karakaya cautions. “The question is, do we care about this negative impact?”

Cisco to cut about 4,000 jobs in AI-focused restructuring

San Jose, California-based networking equipment maker Cisco has said it would cut nearly 4,000 jobs as part of restructuring aimed at ‌shifting investment toward artificial intelligence and related growth areas. "The companies that will win ​in the AI era will be those with focus, urgency, and the discipline to continuously shift ​investment toward the areas where demand and long-term value creation are strongest," chief executive Chuck ⁠Robbins wrote in a post on Cisco's website. 

China's BYD in talks with Stellantis and others about taking over Europe plants

China's BYD is talking with Stellantis and ​other European car makers to take over ‌underused factories on the continent. The world’s largest seller of ​electric vehicles is discussing potential deals to ⁠take on facilities in countries including ​Italy, BYD's Executive Vice President Stella Li ​said, adding that BYD prefers to operate the plants on its own rather than as joint ventures. “We are talking to not only Stellantis, we’re talking to other companies too,” Li said. “We are looking for any available plant in Europe because we do want to utilise this kind of spare capacity.”

JustCo IPO rides Asia's demand for hybrid work

Flexible workspace operator JustCo is pursuing a mainboard listing on the Singapore Exchange (SGX) to capitalise on renewed investor interest. The company submitted its preliminary prospectus to the Monetary Authority of Singapore on May 7. JustCo, founded in 2011, operates 54 centres across 12 cities including Singapore, Tokyo, Seoul, Sydney and Bangkok. It has about 37,500 workstations and nearly 1.9m sq ft of office space across the region. In an interview earlier this year, JustCo CEO Kong Wan Sing said the future of work is in giving employees the flexibility to work from anywhere, supported by technology and conducive workspaces.
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OTHER

GLP-1 drugs may improve breast cancer outcomes

Research published in JAMA Network Open indicates that GLP-1 medications may enhance long-term outcomes for breast cancer patients, particularly those with obesity or type 2 diabetes. The study analysed the health records of nearly 8,000 patients diagnosed between 2006 and 2023. It found that those using GLP-1 drugs had a lower overall risk of death and a reduced chance of cancer recurrence over a 10-year period. Senior author Bernard Fuemmeler, director at VCU Massey Comprehensive Cancer Center, said: "This study suggests that GLP-1 drugs may offer protective benefits." Further research is planned through clinical trials.
 
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