Gulf nationals least satisfied with jobs, research shows (Gulf Business Capsule)April 29th, 2008 - 4:08 pm ICT by admin
Dubai, April 29 (IANS) Gulf nationals across all countries in the Middle East scored the lowest in terms of job satisfaction, with only 26 percent enjoying a high level of satisfaction in their work, according to new research. The research, commissioned by the region’s leading job site Bayt.com alongside research specialists YouGovSiraj, reveals that employee satisfaction in the United Arab Emirates (UAE) is comparably low in the region, with only 27 percent of workers being highly satisfied with their work.
Lebanon and Morocco have the highest levels of job satisfaction at 36 percent and 35 percent, respectively.
The survey covered 9,760 workers across the region and Pakistan last month.
Entitled ‘Employee Loyalty Survey’, it aimed at understanding the perceptions and attitudes of Middle Eastern employees with regard to their career, the work they do and the organization they worked for.
Saudi Arabia fared the worst with 40 percent of respondents saying their satisfaction with their work organization was low.
The other Gulf countries, with the exception of Bahrain, witnessed comparably low levels, with Kuwait and the UAE joined at 34 percent and Qatar at 30 percent.
In terms of motivation levels, the UAE scored lowest with only 65 percent of employees agreeing to ‘I feel motivated to perform well in the work I do’.
Saudi Arabia moves to curb inflation
The Saudi Arabian government has adopted several short and long-term measures to control increasing prices and inflation, including steps to ensure adequate supply of foodstuffs and other essential commodities.
“The cabinet approved short and long-term measures within the framework of an integrated strategy to protect the market from price fluctuations and preserve living standards in the Kingdom,” the Saudi Press Agency quoted Culture and Information Minister Iyad Madani as saying after a meeting of the Saudi cabinet chaired by King Abdullah Bin Abdul Aziz.
The new measures came after inflation in the Gulf nation hit a new record of 9.6 percent.
Saudi Arabia has already cut customs tariffs on food such as frozen poultry, dairy products and vegetable oils from 20 percent to five percent.
Diversification of sources to ensure adequate supply of commodities was another major step approved by the cabinet. Ministers have also been urged to follow up distribution of goods to stop unfair practices.
Stanchart opens its largest trading floor in Middle East
Standard Chartered bank has opened its largest trading floor in the Middle East at the Dubai International Financial Centre (DIFC), the global financial hub.
Launched by the DIFC governor Omar Bin Sulaiman, the new trading floor hosts over 200 trading seats and will support the continued build-up of the bank’s global financial markets business, a DIFC statement said.
“Standard Chartered’s new trading room sets fresh benchmarks in the region for state-of-the-art facilities that help customers conduct trading activities,” Sulaiman said at the launch ceremony.
“Facilities such as this will help to generate even more growth in the region’s financial market.”
Standard Chartered is investing in expanding its financial markets capabilities, both in the UAE and within the group.
The bank has recently established a team of client relationship specialists based in Dubai and has also expanded its global corporates, corporate finance and commodity research teams.
Last week, the bank announced a new global head of fixed income trading, global head of structured products trading and a global head of modelling and analytics group, all based in Singapore.