Kuwait to make public sector workforce ‘100% Kuwaiti’

According to the sources, the ultimate goal is for the total workforce of the public sector to be solely comprised of nationals. (Shutterstock)
Updated 22 October 2018
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Kuwait to make public sector workforce ‘100% Kuwaiti’

  • The ultimate goal is for the total workforce of the public sector to be solely comprised of nationals
  • The Kuwaitization drive is part of a government’s push to recruit more of its citizens

DUBAI: Kuwait’s public sector is on track to achieve a 100 percent Kuwaiti workforce, according to sources close to the country’s minister of commerce and industry, local daily Kuwait Times reported.

According to the sources, the ultimate goal is for the total workforce of the public sector to be solely comprised of nationals.

An employment committee of the Gulf country’s National Assembly was formed to address the issue of high unemployment rates among Kuwaiti nationals by allocating jobs for them in the public sector and relieving expatriates of their roles there.

Kuwaiti MP Mohammad Al-Dallal on Sunday called for the need to check the growing numbers of certain expatriate communities, especially the Egyptian and the Filipino communities.

The Kuwaitization drive is part of a government’s push to recruit more of its citizens, a similar push is underway across the GCC where countries like Saudi Arabia and Oman have also been trying to increase the number of locals in employment.


Saudi banks, Dubai shares give Gulf markets a timely boost

Updated 24 January 2019
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Saudi banks, Dubai shares give Gulf markets a timely boost

  • The Dubai index was up by 0.9 percent with Emirates NBD, its largest bank, adding 2.1 percent and its largest listed developer Emaar Properties gaining 2.2 percent
  • Nasdaq-listed DP World increased 0.7 percent after increasing its stake in its Australia unit

DUBAI: The Dubai stock market snapped a three-day losing streak on Wednesday, boosted by its financial and property shares, while Saudi Arabia rose on the back of its banks.
The Dubai index was up by 0.9 percent with Emirates NBD, its largest bank, adding 2.1 percent and its largest listed developer Emaar Properties gaining 2.2 percent. Gulf Arab economies are expected to grow at a slower pace than previously forecast, a quarterly Reuters poll of economists found, as oil output cuts, lower crude prices and weaker global growth put pressure on regional economies. Amlak Finance rose 2.2 percent after announcing a renegotiation of restructuring terms with its financiers to allow more flexibility in adapting to “current market conditions.” Nasdaq-listed DP World increased 0.7 percent after increasing its stake in its Australia unit.
The port operator will spend at least $250 million buying back some shares in its Australian port terminals unit. Saudi Arabia’s index rose 0.8 percent, with nine out of 10 banks rising.
Al Rajhi Bank was up 0.6 percent and Samba Financial Group closed 1.7 percent higher. Petrochemical investor Alujain added 1.5 percent after an update on the fire at its affiliate’s plant.
The company said it now expects the NATPET plant to start operating all units by the end of September.
The Egyptian blue-chip index was up 0.2 percent with its largest listed bank Commercial International Bank gaining 4.2 percent.
The Egyptian Exchange on Wednesday canceled all transactions made the previous day in local firms Sixth of October Development and Investment Company (SODIC) and Madinet Nasr for Housing and Development (MNHD).
The move followed SODIC’s decision against a takeover of MNHD and involved their shares being suspended on Wednesday as the bourse reset prices. Global Telecom Holding jumped by 10 percent before trading on its shares were suspended, pending a statement from the company after VEON Ltd, a major shareholder in the firm, said it was considering taking it private.