THE HOT STORY

Emerging markets weigh AI's risks and opportunities

Qatar National Bank (QNB) has underscored the dual nature of AI for emerging markets in its weekly commentary. While the technology presents opportunities for growth and productivity, it also poses risks of economic divergence. QNB emphasised the need for decisive action in building digital infrastructure, developing data ecosystems, and investing in skills. The International Monetary Fund (IMF) estimates that 40% of jobs in these markets are at risk due to AI, particularly in sectors reliant on manual tasks.

Trade Arabia

HEALTH & WELLBEING

UAE midday work ban ends today

The UAE's ban on midday work, which is aimed at protecting workers from heat stress, concludes today. This marks the end of a three-month initiative that has been in place for 22 consecutive years. The Ministry of Human Resources and Emiratisation implemented the policy, which prohibited outdoor work between 12:30pm and 3pm. The measure is part of a broader effort to enhance workplace safety and reduce heat-related risks during the summer. Companies have recorded compliance rates above 99% during previous summer protection campaigns

Emirates24

Gulfnews.com

LEGAL

Arab nations gather for anti-corruption conference in Doha

Qatar will host the sixth session of the Conference of States Parties to the Arab Anti-Corruption Convention from September 21 to 23. The event aims to enhance cooperation on integrity and transparency among Arab nations. Abdul Wahab Al Kuwari, ACTA Official Spokesperson, highlighted the significance of the proposed Doha Declaration, which focuses on preventive measures against corruption. The conference will also address the development of a mechanism to review the implementation of the convention. Al Kuwari noted that 22 Arab countries are expected to participate, alongside various international organisations.

The Peninsula

WORKFORCE

Kuwait tightens lending criteria for expatriates

Kuwaiti banks are tightening lending criteria for expatriates amid concerns over job security and Kuwaitisation. Lenders are now increasingly selective as they assess the stability of borrowers' jobs during the repayment period. Positions affected by Kuwaitisation, such as certain government teachers and employees in surplus roles, face increased scrutiny. However, banks continue to lend to expatriates in secure professions such as healthcare and technology. Factors including length of service and salary are crucial in determining creditworthiness, and high-value expatriate clients with substantial assets may receive preferential treatment, while newly appointed workers face stricter conditions.

Gulfnews.com

SUSTAINABILITY

Oman Climate Week 2026 launches in Muscat

Oman Climate Week is being held in Muscat from September 14 to 16. The week features over 15 main events, 20 training workshops, more than 80 exhibitors, 400 speakers, 150 participants in the “Eco-thon” challenge, and over 5,000 attendees. The event focuses on shifting from ambition to implementation in climate action. Dr Abdullah al Amri, president of the Environment Authority, emphasised the importance of environmental sustainability in Oman's development path, which aims for net-zero emissions by 2050.

TimesofOman

Oman Observer

ECONOMY

Price increases drive rise in spending ahead of Rosh Hashanah

Data from Israel's Automated Banking Services company, Shva, reveals that shoppers spent almost NIS459m on card payments on Friday night in the lead up to Rosh Hashanah, up 2.7% on the same period last year, but with supermarket chains reporting a marked decline in foot traffic. A branch manager at one retail chain said they had "never seen anything like this", adding: "We were just talking about it as a team, that there are barely any people. Either everyone already did their shopping earlier, or everyone flew abroad. They said Ben-Gurion Airport is crowded." The Jerusalem Post notes that the increase in spending appears to be driven by price increases on key products, rather than by an increase in footfall.

The Jerusalem Post

INTERNATIONAL

Older UK employees hang on for longer

Employment rates for Britons aged 65 and over are at a record high, as longer life expectancy, improved health, the rise in flexible working since the pandemic and cost-of-living pressures all combine to encourage a delay to retirement. The number of Britons in this group topped 1.7m earlier this year - at a time when youth joblessness is close to its highest rate in more than a decade, with almost 1m 16-24 year-olds out of work or education. Baby-boomer workers postponing retirement is having a “knock-on effect” on how many jobs are being created for young people, and the UK is contending with what the Bank of England calls a “low hire, low fire” labour market which helps to exclude youth. Meanwhile, AI is viewed to be of most benefit to the older generation. “We have a number of clients who’ve actually approached us saying, ‘we just want to get rid of some junior staff and replace them with AIs’,” says Alessandro De Arcangelis, senior research and policy analyst at law firm Lewis Silkin. “There is more pressure to rely on more senior workers.”

Bloomberg

Aritzia’s high-touch styling model fuels rapid growth

Canadian clothing retail company Aritzia’s personalised approach to customer service has become a central part of its “Everyday Luxury” strategy, helping annual revenue more than quadruple over the past five years and its shares rise nearly 700% since its 2016 IPO. The $2.7bn clothing chain uses “style advisers” to provide customers with personal styling advice and drive sales, supporting an ambitious expansion that includes plans for more than 100 additional US stores alongside the 77 it operated as of July. Aritzia also acquired Los Angeles retailer Fred Segal in February. The strategy has faced scrutiny, however, with former employees alleging that physical appearance plays an outsized role in recruiting style advisers and that staff face aggressive sales targets. Aritzia has denied that attractiveness determines hiring decisions, saying candidates are assessed on factors including style, motivation, values and personality, while employees are evaluated on sales alongside teamwork, accountability, integrity and customer interactions. Around a quarter of Aritzia’s more than 6,000 boutique employees are style advisers.

Wall Street Journal

Micron's Taiwan workers to receive rewards worth up to 68 months of pay

Micron staff in Taiwan are to get bonuses worth up to 68 months of pay for fiscal 2026 as the US semiconductor manufacturer contends with widespread support among union members for a strike. The company said the payouts were its strongest ever; more than 60,000 employees globally will receive fiscal 2026 rewards “following an extraordinary year.” The Taoyuan union said it was still seeking changes to Micron’s rewards system that would allocate 15% of operating profit to workers' bonuses.

CNBC

Bitcoin Suisse to cut up to half of jobs in Switzerland

Zug-headquartered crypto firm Bitcoin Suisse is to shed up to 60 of its 120 employees in Switzerland as ‌it seeks to reorganise its business. "Software development and back-office capabilities will increasingly be consolidated in our international hubs, ⁠allowing us to scale faster, access broader talent pools and invest more effectively in our future offering," the company said. Bitcoin Suisse, which has offices in Liechtenstein, Abu Dhabi and Bermuda, said it is also closing its IT development site in Copenhagen.

Finews

OTHER

Arab Union for Voluntary Work celebrates 'Arab Volunteer Day'

The Arab Federation for Voluntary Work is celebrating Arab Volunteering Day today. The event will honour 100 volunteers from the Pioneers Team for Voluntary Work in Qatar. Dr. Yusuf Ali Al Kazim, president of the Federation, said: "We honour giving . . . and celebrate impact," as he highlighted the significance of recognising volunteers' contributions. The celebration will also announce winners of the Dr. Kazem Nouri Award for Volunteer Work, which features five categories. Additionally, a short story competition for youth will promote values of volunteering and social responsibility across Arab nations.

The Peninsula

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