DUBAI: Seventy percent of expat employees in Kuwait’s private sector are not qualified, the country’s Minister of Social Affairs and Labor and State Minister for Economic Affairs Hind Al-Sabeeh said on Sunday, according to local daily Kuwait Times.
According to the minister, the workers included in the percentage “do not have intermediate or university degrees” and need to be “filtered” through assessment mechanisms.
The high number comes after the Kuwait’s Public Authority for Manpower ran inspections on several companies operating in Kuwait during the Eid Al-Adha holiday and detected a “large number of violations.”
Statistics released by Kuwait’s Central Statistical Bureau up to the end of March 2018 showed that roughly 60 percent of expats employed in the private sector hold an intermediate degree, while less than 11 percent have university degrees.
Kuwaiti minister: 70% of private sector expat workers ‘not qualified’
Kuwaiti minister: 70% of private sector expat workers ‘not qualified’
- According to the minister, the workers included in the percentage “do not have intermediate or university degrees”
- Roughly 60 percent of expats employed in the private sector hold an intermediate degree, while less than 11 percent have university degrees
Closing Bell: Saudi main index closes in red at 10,947
RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Thursday, losing 208.20 points, or 1.87 percent, to close at 10,947.25.
The total trading turnover of the benchmark index was SR4.80 billion ($1.28 billion), as 14 of the listed stocks advanced, while 253 retreated.
The MSCI Tadawul Index decreased, down 25.35 points, or 1.69 percent, to close at 1,477.71.
The Kingdom’s parallel market Nomu lost 217.90 points, or 0.92 percent, to close at 23,404.75. This came as 24 of the listed stocks advanced, while 43 retreated.
The best-performing stock was Musharaka REIT Fund, with its share price up 2.12 percent to SR4.34.
Other top performers included Al Hassan Ghazi Ibrahim Shaker Co., which saw its share price rise by 1.18 percent to SR17.20, and Saudi Industrial Export Co., which saw a 0.8 percent increase to SR2.51.
On the downside, Abdullah Saad Mohammed Abo Moati for Bookstores Co. was among the day’s biggest decliners, with its share price falling 9.3 percent to SR39.
National Medical Care Co. fell 8.98 percent to SR128.80, while National Co. for Learning and Education declined 6.35 percent to SR116.50.
On the announcements front, Red Sea International said its subsidiary, the Fundamental Installation for Electric Work Co., has entered into a framework agreement with King Salman International Airport Development Co.
In a Tadawul statement, the company noted that the agreement establishes the general terms and conditions for the execution of enabling works at the King Salman International Airport project in Riyadh.
Under the 48-month contract, the scope of work includes the supply, installation, testing, and commissioning of all mechanical, electrical, and plumbing systems.
Utilizing a re-measurement model, specific work orders will be issued on a call-off basis, with the final contract value to be determined upon the completion and measurement of actual quantities executed.
The financial impact of this collaboration is expected to begin reflecting on the company’s statements starting in the first quarter of 2026, the statement said.
The company’s share price reached SR23.05, marking a 2.45 percent decrease on the main market.
