top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.


The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen


13 May 2022

UAE Unveils Unemployment Insurance Plans for Emiratis and Residents

The Index Today

The United Arab Emirates has introduced an unemployment insurance plan to aid its citizens and residents who lose their jobs.

According to The National, the scheme, which will come into effect in January 2023, will afford Emirati and expat employees in the public and private sectors, a basic monthly payment. The new Federal law was announced on Thursday by the Minister of Human Resources and Emiratisation, Dr. Abdulrahman Al Awar.

As per the new scheme, employees will be required to contribute to an insurance company enterprise. Should an employee get laid off work, they will be entitled to claim 60% of their basic monthly salary (up to AED 20,000 a month) for a fixed period of time that would enable them to cover expenses.

As per Bloomberg News, this comes as part of the UAE’s efforts in introducing more inclusive and flexible labour legislations that would make it more convenient for international employees to live and work in the country.

Clay pottery with table linens
bottom of page