The UAE's hiring rate briefly hit pre-pandemic levels in October, rising 9.5 per cent year-on-year within the global average of 9 to 10 per cent, as movement restrictions eased and companies began a phased return to offices, LinkedIn said.
"We have not gone back to the same point as the pre-pandemic," Ali Matar Head of LinkedIn EMEA Emerging Markets, Middle East & Africa, said in an interview. "The conclusion is that we are heading in the right direction, things seem to be optimistic and companies are going back to posting jobs and hiring people."
Progress, he said, depends on the resurgence or containment of the virus. That echoes to a large extent the trend globally. China's economy has rebounded to growth after it managed to contain the pandemic.
The decline in economic activity due to the coronavirus has massively affected the world’s labour market. Compared with the last three months of 2019, the global decline in work hours during the second quarter is equal to the loss of 400 million full-time jobs, the fund said, according to the International Labour Organisation.
LinkedIn data indicates countries that avoid shutting down their economies do not see an improved hiring trend in the long run, according to a report it released on Tuesday.
Sweden and Brazil, who have avoided economic lockdowns, have seen a severe drop in hiring. In contrast, Canada and France have implemented restrictions and seen more consistent growth in hiring.
"The key to recovery is containing the virus," Mr Matar said, citing China as an example.
Despite the resurgence of Covid infections globally and countries going into second lockdowns, there are pockets of hiring growth. LinkedIn has 14 million jobs available worldwide on its platform, particularly in healthcare and technology roles, the data shows.
It identified 10 jobs that are expected to continue to be in high demand by employers in the future including digital marketers, data analysts, software developers and financial analysts.
Digital skills in particular are in demand. LinkedIn projects that the technology sector will add 150 million jobs globally in the next five years.
Resilient industries such as tech, e-commerce, and healthcare are continuing to hire during the pandemic, Mr Matar said. Job applicants that combine tech skills with an understanding of business are increasingly in demand, he said.
LinkedIn rolled out its Career Explorer dashboard, an interactive tool created to help people find jobs that match their skills, it said on Tuesday.
Job seekers can see how their skills can lead them to new career opportunities, what additional skills they may need, along with LinkedIn learning courses that can help fill those gaps.
LinkedIn also launched the Open to Work feature, which jobseekers can use to tell employers they're looking for new opportunities. These users receive on average 40 per cent more InMails from recruiters and are 20 per cent more likely to receive messages from the broader LinkedIn community, according to the report.
To gain new skills ad those sought by employers, people can access nearly 1,000 hours of free learning courses from Microsoft and LinkedIn. More than 13 million people beefed up their digital skills through these online courses.
Public-private sector cooperation, backing the growth of small-and-medium-enterprises, learning new skills and containing the virus are key to raising and sustaining hiring rates, Mr Matar said.
Over the last 10 months the pandemic accelerated digitisation plans of companies, shifted advertising spending to digital platforms and normalised work from home, he said.
With the pandemic accelerating demand for roles in male-dominated tech industry, women must invest more time in developing technical skills, he said.
The pandemic will continue to accelerate the uptake of technology and the need to develop new skills, Mr Matar said.
"We've seen people losing hope – its ok to be tired, to get fatigue, to have ups and downs – but at the end of the day hope is there, things are picking up, and growth rates are coming back," Mr Matar said.
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
Mohammed bin Zayed Majlis
NEW ARRIVALS
Benjamin Mendy (Monaco) - £51.75m (Dh247.94m)
Kyle Walker (Tottenham Hotspur) - £45.9m
Bernardo Silva (Monaco) - £45m
Ederson Moraes (Benfica) - £36m
Danilo (Real Madrid) - £27m
Douglas Luiz (Vasco de Gama) - £10.8m
Green ambitions
- Trees: 1,500 to be planted, replacing 300 felled ones, with veteran oaks protected
- Lake: Brown's centrepiece to be cleaned of silt that makes it as shallow as 2.5cm
- Biodiversity: Bat cave to be added and habitats designed for kingfishers and little grebes
- Flood risk: Longer grass, deeper lake, restored ponds and absorbent paths all meant to siphon off water
Your Guide to the Home
- Level 1 has a valet service if you choose not to park in the basement level. This level houses all the kitchenware, including covetable brand French Bull, along with a wide array of outdoor furnishings, lamps and lighting solutions, textiles like curtains, towels, cushions and bedding, and plenty of other home accessories.
- Level 2 features curated inspiration zones and solutions for bedrooms, living rooms and dining spaces. This is also where you’d go to customise your sofas and beds, and pick and choose from more than a dozen mattress options.
- Level 3 features The Home’s “man cave” set-up and a display of industrial and rustic furnishings. This level also has a mother’s room, a play area for children with staff to watch over the kids, furniture for nurseries and children’s rooms, and the store’s design studio.
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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Transmission: eight-speed automatic
Power: 715bhp
Torque: 900Nm
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On sale: now
Who has been sanctioned?
Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.
Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.
Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.
Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.
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UAE and Russia in numbers
UAE-Russia ties stretch back 48 years
Trade between the UAE and Russia reached Dh12.5 bn in 2018
More than 3,000 Russian companies are registered in the UAE
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Ferrari 12Cilindri specs
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