Middle East economy

An Asian worker carries carries a rod at a flyover construction site in eastern Riyadh on April 7, 2013. Saudi Arabia.Gulf states are intensifying their efforts to create jobs for nationals at the expense of expatriate workers as they face youth unemployment and pressure to prepare for a future less reliant on crude exports, writes Camilla Hall.

Kuwait has said it will reduce foreign workers by 100,000 a year, while hundreds of thousands of companies in Saudi Arabia faced a deadline last month to meet the proscribed quota of Saudi employees or risk having their licences removed. Continue reading »

Kuwait has introduced new corporate legislation as it tries to compete for foreign investment with its more successful regional peers, primarily the United Arab Emirates, write Camilla Hall and Simeon Kerr.

Notorious in the region for its recent economic underperformance, Kuwait is trying to move ahead with more coherent regulations in an effort to kick-start its non-oil economy and boost confidence in markets. Continue reading »