MHPS sees Saudi youth taking up the challenge of leadership

Mitsubishi Hitachi Power Systems’ Turbine Rotor Repair Facility in Dammam. (Supplied)
Updated 21 November 2018
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MHPS sees Saudi youth taking up the challenge of leadership

  • MHPS Saudi Arabia said it was training and preparing young Saudi employees who could eventually take over operations in the Kingdom
  • MHPS’ Khalid Salem: We will develop some of the youth that we have into much larger roles of leadership and decision-making on the day-to-day running of the business

DUBAI: The local subsidiary of Mitsubishi Hitachi Power Systems, MHPS Saudi Arabia, says that Saudi youth will take more local leadership and take control of the business in the next three to five years.
Following the initiative of Vision 2030 to develop Saudi youth in the professional sector, the company said it was training and preparing young Saudi employees who could eventually take over MHPS operations in the Kingdom.
“The cornerstone of this is developing some of the youth that we have into much larger roles of leadership and decision-making on the day-to-day running of the business,” Khalid Salem, deputy general manager at the Dubai branch of MHPS, told Arab News.
Saudi Arabia in recent years has rolled out strategies to diversify its economy to sustain growth and development. In 2016, Crown Prince Mohammed bin Salman publicized plans to achieve economic diversification through Vision 2030.
During King Salman’s opening speech on Monday at the Shoura Council, he applauded Vision 2030 and its plan to cut unemployment.
“You are aware of the efforts of the state to create job opportunities and we directed the crown prince, the president of the Economic Development Affairs Council, to concentrate and develop the human capabilities and prepare the new generation for future jobs.”

Salem explained that the potential in Saudi Arabia is already present.  

“I have been in the power business for more than 20 years, and the trend towards hiring more and more Saudi youth has seen exponential growth,” he said.

“The talent is there, the opportunities are there, we just have to mix and match them.”


UK core pay growth strongest in nearly 11 years, but jobs growth slows

Data showed the unemployment rate remained at 3.8 percent as expected. (Shutterstock)
Updated 54 min 27 sec ago
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UK core pay growth strongest in nearly 11 years, but jobs growth slows

  • Core earnings have increased by 3.6 percent annually, beating the median forecast of 3.5 percent
  • The unemployment rate fell by 51,000 to just under 1.3 million

LONDON: British wages, excluding bonuses, rose at their fastest pace in more than a decade in the three months to May, official data showed, but there were some signs that the labor market might be weakening. Core earnings rose by an annual 3.6 percent, beating the median forecast of 3.5 percent in a Reuters poll of economists. Including bonuses, pay growth also picked up to 3.4 percent from 3.2 percent, stronger than the 3.1 percent forecast in the poll. Britain’s labor market has been a silver lining for the economy since the Brexit vote in June 2016, something many economists attribute to employers preferring to hire workers that they can later lay off over making longer-term commitments to investment. The pick-up in pay has been noted by the Bank of England which says it might need to raise interest rates in response, assuming Britain can avoid a no-deal Brexit. Tuesday’s data showed the unemployment rate remained at 3.8 percent as expected, its joint-lowest since the three months to January 1975. The number of people out of work fell by 51,000 to just under 1.3 million. But the growth in employment slowed to 28,000, the weakest increase since the three months to August last year and vacancies fell to their lowest level in more than a year. Some recent surveys of companies have suggested employers are turning more cautious about hiring as Britain approaches its new Brexit deadline of Oct. 31. Both the contenders to be prime minister say they would leave the EU without a transition deal if necessary. A survey published last week showed that companies were more worried about Brexit than at any time since the decision to leave the European Union and they planned to reduce investment and hiring. “The labor market continues to be strong,” ONS statistician Matt Hughes said. “Regular pay is growing at its fastest rate for nearly 11 years in cash terms and its quickest for over three years after taking account of inflation.” The BoE said in May it expected wage growth of 3 percent at the end of this year.