BERLIN: Chancellor Angela Merkel is meeting top German business and union officials on Monday to discuss how to attract skilled workers from outside the European Union as the country tries to tackle a shortfall of qualified labor.
Legislation is due to take effect March 1 making it easier for non-EU nationals to get visas to work and seek jobs in Germany. Arrangements currently applied to university graduates are being expanded to immigrants with professional qualifications and German language knowledge.
“Many companies in Germany are urgently seeking skilled workers, even in times of a weaker economy,” Eric Schweitzer, the head of the Association of German Chambers of Commerce and Industry, told the Funke newspaper group. “For more than half of companies, the shortage of skilled workers is currently the biggest risk to business.”
He called for “unbureaucratic and effective implementation” of the new legislation.
Sectors including information technology and nursing have complained of a shortage of workers.
Monday’s meeting will discuss which countries German business wants to focus on “and we will cut out the bureaucratic hurdles,” Labor Minister Hubertus Heil told RBB Inforadio. He named as examples the process of recognizing professional qualifications, language ability and visa procedures.
Like many other European countries, Germany is trying to strike a balance between the needs of its labor market, an aging native population and concern about immigration.
Heil said that the aim isn’t to undercut German wages and “our problem at the moment is rather that we are not being overrun, that we are not getting qualified workers.”
Germany mulls how to attract skilled labor from outside EU
https://arab.news/bk4jw
Germany mulls how to attract skilled labor from outside EU
- The new legislation will take effect March 1
- German official said shortage of skilled workers is currently biggest risk to business
Closing Bell: Saudi main index rises to close at 11,341
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Wednesday, gaining 12.75 points, or 0.11 percent, to close at 11,341.27.
The total trading turnover of the benchmark index was SR5.15billion ($1.37 billion), as 84 of the listed stocks advanced, while 168 retreated.
The MSCI Tadawul Index increased, up 3.84 points or 0.25 percent, to close at 1,530.98.
The Kingdom’s parallel market Nomu lost 233.47 points, or 0.97 percent, to close at 23,810.24. This comes as 31 of the listed stocks advanced, while 39 retreated.
The best-performing stock was Al Majed Oud Co., with its share price surging by 6.02 percent to SR156.80.
Other top performers included Advanced Building Industries Co., which saw its share price rise by 5.75 percent to SR42.32, and Al Kathiri Holding Co., which saw a 5.50 percent increase to SR2.11.
On the downside, the worst performer of the day was Elm Co., whose share price fell by 5.99 percent to SR699.
Abdullah Saad Mohammed Abo Moati for Bookstores Co. and United Cooperative Assurance Co. also saw declines, with their shares dropping by 3.60 percent and 3.08 percent to SR45.02 and SR3.78, respectively.
On the announcement front, Saudi Arabian Refineries Co. has announced the completion of the issuance of the articles of association and the commercial registration of its holding company under the name Masafi Ventures Co. Holding, a wholly owned single-person limited liability company.
SARCO’s share price closed at SR51.80 on the main market, marking a 0.19 percent decrease.
In another announcement, Multi Business Group Co. has announced a project award from the National Housing Co. for the design and execution of the Al Aziziyah Sales Center.
The contract involves all construction, architectural, fit-out, and electromechanical engineering works for the new sales facility, according to a statement on Tadawul.
The company’s share price remained unchanged at SR10 on the parallel market.
