This year ends in many parts of the world with an economic bang, not a whimper. From the foothills of the UK's party season our columnist Chris Blackhurst reports on a conversation with two would-be London unicorns who spoke of the intense pressure they are under to move their potential £1 billion-plus tech businesses overseas.
“Anywhere but Britain,” was in effect what they were hearing, with the UAE, US and Saudi Arabia the most favoured destinations.
AI Week at the Museum of The Future, in Dubai. Antonie Robertson / The National
Why? Because in the case of the US, that is where the global financial power and digital know-how is concentrated, while the Gulf powerhouses are making major strides in attracting global talent and introducing digital innovation.
Up to now, outside of China, the AI world has coalesced around three centres: the US, the UK-EU region and Gulf countries. But the one that is looking most vulnerable and may find itself slipping away is the UK-EU zone. Why? Because European countries and their leaders are applying what is often referred to euphemistically as an abundance of caution – they are talking big about investment and opportunities but, at the same time, they are paying heed to politicians and regulators anxious about controlling AI and restricting its development and impact.
If US President Donald Trump is suited and booted in proscribing parts of the Muslim Brotherhood, the UK is still searching under the bed for its shoes.
There may be something stirring at one level of the political landscape, though. I attended a launch in parliament of the All Party Parliamentary Group on Extremism. I found a group of representatives who wanted to change the group thinking around the issue.
The current UK structures are focused on counter-terrorism, not so much on extremism. Those laws and strategies were forged after the 9/11 attacks on the US that created a new era of security priorities around the world.
Seizing the agenda is the art of politics in this regard, and the British government is far behind the curve in addressing extremism.
It faces calls to address the scope and scale of the problem beyond the established counter-terrorism infrastructure. It has not, for example, implemented the findings of an official report, Operating With Impunity, which recommended tackling “persistent groups” that not only radicalise but also propagate extremist narratives.
That is why MPs moving to form a parliamentary group that specialises in this area is such a welcome step.
The UK parliament's corridors have gained a new caucus against extremism. Getty Images
There is no doubt that the situation in Yemen has been intolerable for the largest faction in Aden and the southern seaboard for months.
Now there has been a decisive shift in strategy by the Southern Transitional Council. By mobilising its forces, it has effectively taken control of all of the south of the country.
In a complicated picture, three members of the eight-man council running the presidency are with the STC.
Representatives of the US, and British ambassador Abda Sharif, met Rashad Al Alimi, the head of Yemen's Presidential Leadership Council, and asked for de-escalation.
Flying the flag in Aden. Saleh Al-OBEIDI / AFP
A spokesman for the STC has accused the PLC of failing to take up the battle to liberate the north from the Houthis. For the autonomy-minded STC, the President is more interested in "seeking to establish a state for themselves in the south”.
And the PLC’s failure to provide basic services in Aden and other areas forced the STC to act on the discontent of its own supporters. The STC said it “launched a military operation to drive out terrorist elements" from a large area along the coast.
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Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
Hydrogen: Market potential
Hydrogen has an estimated $11 trillion market potential, according to Bank of America Securities and is expected to generate $2.5tn in direct revenues and $11tn of indirect infrastructure by 2050 as its production increases six-fold.
"We believe we are reaching the point of harnessing the element that comprises 90 per cent of the universe, effectively and economically,” the bank said in a recent report.
Falling costs of renewable energy and electrolysers used in green hydrogen production is one of the main catalysts for the increasingly bullish sentiment over the element.
The cost of electrolysers used in green hydrogen production has halved over the last five years and will fall to 60 to 90 per cent by the end of the decade, acceding to Haim Israel, equity strategist at Merrill Lynch. A global focus on decarbonisation and sustainability is also a big driver in its development.
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
T20 World Cup Qualifier
October 18 – November 2
Opening fixtures
Friday, October 18
ICC Academy: 10am, Scotland v Singapore, 2.10pm, Netherlands v Kenya
Zayed Cricket Stadium: 2.10pm, Hong Kong v Ireland, 7.30pm, Oman v UAE
UAE squad
Ahmed Raza (captain), Rohan Mustafa, Ashfaq Ahmed, Rameez Shahzad, Darius D’Silva, Mohammed Usman, Mohammed Boota, Zawar Farid, Ghulam Shabber, Junaid Siddique, Sultan Ahmed, Imran Haider, Waheed Ahmed, Chirag Suri, Zahoor Khan
Players out: Mohammed Naveed, Shaiman Anwar, Qadeer Ahmed
Players in: Junaid Siddique, Darius D’Silva, Waheed Ahmed
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
Fifa Club World Cup:
When: December 6-16 Where: Games to take place at Zayed Sports City in Abu Dhabi and Hazza bin Zayed Stadium in Al Ain Defending champions: Real Madrid
10 tips for entry-level job seekers
Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.
Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz
