THE HOT STORY

Iran adds Elon Musk's companies to list of military targets

Elon Musk's assets in the Middle East may be at risk amid threats from Iran's military, according to state media. The Fars News Agency has reported that the use of Musk's Starlink internet platform and the X social media service by US and Israeli forces justifies the targeting of his facilities. An unnamed source claimed that Musk's companies are involved in US military operations, including alleged war crimes in Iran. The Islamic Republic has said it reserves the right to strike Musk-affiliated sites across the region, including Starlink stations in several Arab countries. Meanwhile, Musk's company SpaceX has become an increasingly important contractor for the US military and intelligence community through its Starshield program.

CNBC

Forbes

WORKFORCE

UAE federal jobs cannot be 100% Emiratis, minister says

During a Federal National Council (FNC) session on Wednesday, Mohamed bin Hadi Al Hussaini, the UAE's Minister of State for Financial Affairs, explained why full Emiratisation of the workforce is not feasible due to demographic realities. "As for why the percentage is 65% and not 100%, the size of the Emirati population compared with the non-Emirati population, as well as the size of the job market and the positions that need to be filled, does not allow for all jobs to be occupied 100% by UAE nationals," he said in response to an observation by FNC member Sarah Falaknaz, who noted that while the Emiratisation rate represented significant progress, a substantial proportion of jobs were still held by non-UAE nationals.

Khaleej Times Online

CYBERSECURITY

Chinese hackers 'pose biggest espionage threat to tech firms'

A report from cybersecurity firm CrowdStrike says China-linked hackers presented the biggest espionage threat to technology companies over the past year, observing that such hacking campaigns align with Beijing’s strategic priorities and a sustained interest in technology ‌development, intellectual property, and information with strategic and economic value. Meanwhile, the report said North Korean hacking campaigns have “posed a major threat” in the past year, and Russia and Iran-linked hacking groups also heavily target other countries’ technology sectors for intelligence ⁠collection and destructive malware attacks.

Reuters

TECHNOLOGY

Amazon founder says AI will bring 'golden ages' not mass job losses

Dismissing fears of mass job losses linked to AI, Amazon founder Jeff Bezos believes the technology will create new roles and transform industries, delivering "multiple golden ages."

Financial Times

STRATEGY

Microsoft's Xbox plans major layoffs next month

Microsoft's Xbox division plans major layoffs next month and significant cuts to marketing and other budgets. The job cuts ‌would mark the first major restructuring under Asha Sharma, who took charge as chief executive of the gaming unit in February. Sharma has previously identified what she said were the organisation's challenges, saying the business had plunged to a 3% "accountability margin" and that the company needs to "reset the business" which was "not in a healthy spot".

Bloomberg

TRAINING & DEVELOPMENT

UAE aluminium giant launches STEM labs to develop future industrial talent

Emirates Global Aluminium (EGA) is seeking to enhance the UAE's talent pipeline by establishing STEM labs in schools and universities. The initiative aims to provide students with practical experience in science, technology, engineering, and mathematics (STEM). EGA employs over 1,500 STEM professionals, including 500 UAE nationals. Chief executive Abdulnasser Bin Kalban said: “These skills are essential for the future of our company and our nation.” The programme is expected to benefit over 2,600 students annually and complements existing outreach efforts like the Engineer the Future initiative, which has reached over 36,000 students since 2017.

Zawya EN

INTERNATIONAL

Corporate support for Pride Month rebounds despite ongoing DEI backlash

US companies are increasing support for LGBTQ causes and Pride Month events in 2026 after several years of retrenchment amid anti-DEI pressure, with firms including Mastercard, American Eagle Outfitters and Levi Strauss expanding sponsorships, donations and employee participation. Mastercard is funding around 100 employees and executives to take part in Pride events, while American Eagle has increased contributions to LGBTQ organisations and Levi Strauss has launched a Pride-themed clothing collection alongside a $100,000 donation to human rights group Outright International. Pride organisers across the US have also reported stronger corporate backing, with NYC Pride securing more sponsors than last year and improving its financial position after a funding shortfall in 2025. The recovery follows a period in which many companies reduced or withdrew LGBTQ-related support amid political pressure and consumer boycotts linked to DEI initiatives. While sponsorship levels remain below the peaks seen in the early 2020s, organisers and advisers say corporate confidence is gradually returning, albeit with lower visibility and greater caution.

Bloomberg

China firms deploy 'quiet' layoffs amid AI adoption

Chinese employers are quietly cutting jobs as AI tools replace roles, avoiding mass layoffs to maintain stability. Labour laws - under which companies must seek government approval ⁠for job cuts exceeding 10% of their workforce - and political concerns are driving gradual, small-scale layoffs instead of large-scale redundancies. Reuters observes that the strategy contrasts with the massive AI-linked job cuts announced by major global companies that have precipitated a wave of anti-AI populism in the West. "Private companies will need to make room for some level of inefficiency in order to avoid mass layoffs that would prompt 'social instability' and could have political ramifications," a senior manager at a big Chinese fintech company told Reuters.

Reuters

Khaleej Times Online

Tata boss predicts AI agents will replace half its tech jobs

Natarajan Chandrasekaran, chair of Tata Consultancy Services (TCS), Asia's biggest software services firm, has predicted that AI agents could replace half of the company's workforce in the future. Chandrasekaran said: "The company will have an equal number of AI workers - we call them AI agents - as there are employees . . . if the company has half a million employees, the day is not far when the company will have half a million AI agents.” He acknowledged that while job losses are expected, new opportunities will arise in the AI sector. TCS's AI revenue has already surpassed US$2.3bn, and by 2028 to 2030, all revenue will include an AI component.

The Times of India

Business Times SG

Straits Times

Finnish court jails businessman for trafficking Thai workers

A Finnish court has sentenced Jukka Kristo, the former chief executive of berry company Polarica, to 2½ years in prison for trafficking Thai workers to pick fruit. The Lapland District Court found Kristo guilty on 78 counts of human trafficking, observing that he misled workers about earnings and conditions. His associate, Kalyakorn Phongphit, received a nine-month sentence. Due to high travel and daily living costs, the workers were in debt to the company when they arrived in Finland in 2022 and “ended up with hardly any income” despite working long days without any days off, the court ruling said. The defendants plan to appeal.

Straits Times

OTHER

Sharjah approves new pay framework for Quran educators

The Sharjah Executive Council has approved a new pay framework for teachers and supervisors at the Sharjah Noble Quran and Sunnah Establishment. The decision aims to enhance educational performance and attract qualified professionals. Sheikh Sultan bin Mohammed bin Sultan Al Qasimi chaired the meeting, emphasising the importance of reinforcing Islamic values through education. The council also reviewed the Sharjah Social Services Department's report, revealing over Dh500m in social assistance provided to citizens in 2025. The council praised the efforts of the department in improving community welfare and quality of life for residents.

Gulfnews.com

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