Indonesians arrive from Saudi Arabia at a terminal for migrant workers in the Soekarno-Hatta airport in Jakarta, in 2009. Reuters
Indonesians arrive from Saudi Arabia at a terminal for migrant workers in the Soekarno-Hatta airport in Jakarta, in 2009. Reuters
Indonesians arrive from Saudi Arabia at a terminal for migrant workers in the Soekarno-Hatta airport in Jakarta, in 2009. Reuters
Indonesians arrive from Saudi Arabia at a terminal for migrant workers in the Soekarno-Hatta airport in Jakarta, in 2009. Reuters

Indonesia set to lift ban on sending workers to Saudi Arabia


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Indonesia is set to lift a decade-old ban on sending citizens to Saudi Arabia as domestic workers and formal sector employees, following assurances of stricter labour protections from the Gulf nation.

A memorandum of understanding to facilitate the legal placement of migrant workers will be signed by ministers from both countries later this month in Jeddah, Indonesia's Migrant Workers Protection Minister Abdul Kadir Karding said.

President Prabowo Subianto has approved the lifting of the moratorium imposed in 2015, the Jakarta Globe quoted Mr Karding as saying on Saturday after a meeting with the president. "He has instructed us to develop a training scheme and placement system for these workers."

The Saudi government is offering as many as 600,000 job openings, including about 400,000 for domestic workers and 200,000 for formal sector jobs, he said.

Indonesia has banned labour migration to several Middle Eastern countries over concerns about mistreatment. However, the moratorium faced criticism for loopholes that have allowed a steady flow of undocumented workers amid high regional demand.

More than 25,000 undocumented domestic workers still enter Saudi Arabia illegally each year, Mr Karding told Bloomberg news agency.

Working abroad is an economic lifeline for Indonesians grappling with poverty and unemployment at home. Indonesia’s migrant worker agency received about 186 complaints from workers in Saudi Arabia over the past year, making it one of the top five destinations with the highest number of grievances, data showed.

Mr Karding said Saudi Arabia labour protections have "significantly improved" under the leadership of Crown Prince Mohammed bin Salman.

The new agreement will also include stronger labour protections, such as a minimum monthly wage of around 1,500 riyals ($399) or 6.5 million rupiah – higher than Jakarta’s minimum wage – as well as health, life, and employment insurance.

The agreement will also enhance workers’ rights, tighten oversight of employers and recruitment agencies, and, if signed quickly, could allow the country to resume sending hundreds of thousands of workers to Saudi Arabia in June. The programme is projected to generate about $1.89 billion annually in remittances.

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Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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Normcore explained

Something of a fashion anomaly, normcore is essentially a celebration of the unremarkable. The term was first popularised by an article in New York magazine in 2014 and has been dubbed “ugly”, “bland’ and "anti-style" by fashion writers. It’s hallmarks are comfort, a lack of pretentiousness and neutrality – it is a trend for those who would rather not stand out from the crowd. For the most part, the style is unisex, favouring loose silhouettes, thrift-shop threads, baseball caps and boyish trainers. It is important to note that normcore is not synonymous with cheapness or low quality; there are high-fashion brands, including Parisian label Vetements, that specialise in this style. Embraced by fashion-forward street-style stars around the globe, it’s uptake in the UAE has been relatively slow.

Mina Cup winners

Under 12 – Minerva Academy

Under 14 – Unam Pumas

Under 16 – Fursan Hispania

Under 18 – Madenat

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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COMPANY PROFILE
Name: Airev
Started: September 2023
Founder: Muhammad Khalid
Based: Abu Dhabi
Sector: Generative AI
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
 
Buy farm-fresh food

The UAE is stepping up its game when it comes to platforms for local farms to show off and sell their produce.

In Dubai, visit Emirati Farmers Souq at The Pointe every Saturday from 8am to 2pm, which has produce from Al Ammar Farm, Omar Al Katri Farm, Hikarivege Vegetables, Rashed Farms and Al Khaleej Honey Trading, among others. 

In Sharjah, the Aljada residential community will launch a new outdoor farmers’ market every Friday starting this weekend. Manbat will be held from 3pm to 8pm, and will host 30 farmers, local home-grown entrepreneurs and food stalls from the teams behind Badia Farms; Emirates Hydroponics Farms; Modern Organic Farm; Revolution Real; Astraea Farms; and Al Khaleej Food. 

In Abu Dhabi, order farm produce from Food Crowd, an online grocery platform that supplies fresh and organic ingredients directly from farms such as Emirates Bio Farm, TFC, Armela Farms and mother company Al Dahra. 

Updated: March 15, 2025, 5:02 PM