The UAE in general and Abu Dhabi in particular is well known around the world for its massive oil reserves. Earlier, the economy was heavily dependent on oil, but since 2010, the government has taken strong, tangible steps to diversify the economy and shift its focus to other revenue sources for long-term growth and development.
The global economy has been witnessing a slowdown lately. In general parlance, an economy is considered to be in a recession when it contracts for two quarters consecutively, reflecting in the GDP along with other factors like employment rate, per capita income, etc.
There are times when everything changes in business – when this happens it is often sudden, surprising and sometimes overwhelming. These moments are the strategic inflection points that can result in a company rocketing to success or being left behind.
One issue stands out for every middle-market business that operates internationally: the struggle to find and retain the most skilled and innovative employees — those who will drive growth and company performance.
While some cry foul and worry about the woes of a ‘useless class,’ as the historian Yuval Noah Harari puts it, others welcome widespread automation because they consider most current human labour mind-numbing.
Kuwait is keen on boosting investments in the private education sector as part of its economic diversification plans, but the varying standards of education, a preference among nationals for free public schools and reduced state spending could all hinder the market’s development, analysts say.
From coping with loans, rents and daily expenses to battling social stigma, family pressure and depression, it can be a huge struggle when you are laid off. But the key is to stay prepared and be practical