GLOBILITY® - 24 August 2017 

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EMEA

UAE: Silicon Valley of Middle East
The UAE is a hotbed of startup success stories, and recently ranked at the sixth spot in top 10 frontier markets among the countries that take .01 per cent and .5 percent of global disclosed VC deals, in recent research conducted by venture capital database CBInsights.  Dubai, in particular, has one of the fastest growing and most comprehensive ecosystems in the Middle East. Fawaz H. Zu'bi, founder, chairman and CEO of Silicon Badia, who has been at the forefront of the region's technology development efforts over the past 15 years, says: "Dubai has certainly caught the attention of regional VCs, and is beginning to pop up more and more on the radar of global VCs as well, with some setting up offices too. The emergence of success stories out of the Dubai ecosystem is growing the confidence of investors to the potential of Dubai as a catalyst to capture fast emerging regional opportunities."  Learn more about UAE’s ‘Silicon Valley.”

Non-EU Migrants 'Will Stay at 155,000 a Year'
A MigrationWatch report released this week cautions that mass immigration from outside Europe is ‘unlikely to fall significantly’ without more stringent measures. Until Britain completes its exit from the EU, freedom of movement rules require admission of European citizens. Possible measures to restrict movement include closing loopholes on student visas and raising the minimum income threshold for non-EU workers. Net migration from outside the Brussels bloc - those people arriving minus those leaving – is projected to run at 155,000 a year until 2021. Discover more about EU migration.

 

  

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APAC

Asia-Pacific Business Leaders Forecast Talent Shortages
The new Workplace Agility Barometer report, by recruiting firm KellyOCG, noted that more than 6 out of 10 C-suite level executives across the Asia Pacific (APAC) expect talent shortages over the next few years to adversely affect their businesses. The study surveyed 210 management executives from Singapore, Australia, India, and Malaysia. Singaporean respondents were most pessimistic, with three-quarters predicting disruptions in their business due to talent shortages. Only 53 percent of APAC respondents engaged HR in business strategy development, while just slightly more than a third (37 percent) felt their HR was capable of providing strategic workforce insights. Check out more information on APAC talent shortages.

As Japan Looks for River of Foreign Talent, Landlords Erect a Dam
A recently released study by the Ministry of Justice in March noted that out of 2,044 foreign residents who had sought housing within the past five years, 39.3 percent reported being turned down because they were not Japanese. The impact is now being felt by employers. In recent years, numerous Japanese manufacturers and services have been trying to make up for the country's shrinking labor force by looking elsewhere for workers. They want to create an inflow of talent, but housing discrimination could become a dam. As of last October, Japan had 1.08 million foreign workers, up 58 percent from five years earlier, accounting for around 2 percent of the total workforce, according to the Ministry of Health, Labor and Welfare. Read on for more Japanese rental details.

AMERICAS

Government Affairs Community Update
Worldwide ERC®’s latest Government Affairs Community Update focuses on U.S. House and Senate hearings on proposed tax reform legislation, business identity theft, Hawaii’s increased high earner taxes, legislation to reduce legal U.S. immigration, the EU and Japan trade agreement, and additional state regulation on the registration of appraisal management companies (AMCs), along with mobility industry impact statements. Click here to find the August 14 issue and other recent Government Affairs Community Updates.   

Brazil: Investors Seem Confident That an Economic Recovery is Under Way
Despite a crushing two-year recession and a joblessness rate of 13 percent, there are some who are hopeful that a recovery for Brazil is coming to pass. Still, the International Monetary Fund expects GDP growth of just 0.3 percent this year, and 2016’s fiscal deficit, including large interest payments, was nearly 9 percent of GDP. But there is optimism based on a belief that after a long period of sluggishness, a rebound is warranted. Interest rates are falling and reformed labor laws are expected to accelerate growth. Find out more about Brazil’s recovery.  

GLOBAL INTEREST

New Index Shows Least-, Most-Accepting Countries for Migrants
Many countries on the front lines of the recent migrant crisis in Europe are among the least-accepting countries in the world for migrants, according to Gallup's new Migrant Acceptance Index. Nine of the 10 countries that score a 2.39 or lower (out of a possible 9.0) on the index are former Soviet bloc countries. Discover more about this index.

These Three Countries are Winning the Global Robot Race
There are three countries leading the artificial intelligence (AI) revolution, according to Malcolm Frank, co-author of "What to Do When Machines Do Everything:”  the United States, China and India. While AI is progressing quickly elsewhere too, Frank said the other development hotspots are mainly city hubs such as London and Stockholm, or far smaller economies such as Estonia. Frank said that the development of artificial intelligence requires careful thought, by governments and companies working together to establish ground rules. The tech executive compared it to safety regulations for air travel and for cars, which have evolved several times over the years. The focus needs to be on creating a world "where AI is going to be safe and you get the benefits of it without the downsides," he said.  Find out more about the AI revolution.

5 Diversity Changes That Come with More Millennial Leadership
Growing numbers of millennials are starting to take control in the workplace, and the oldest members of the generation – now in their late 20s and early 30s – are emerging in leadership.   Their natural tendencies toward independent thought and mild to moderate anti-establishment vibes are likely to change the conversation on diversity and inclusion, says a recent Deloitte study. Some of the changes we’ll see are in bottom-line quota numbers, minorities speaking for minorities, connection and collaboration, business impact, and more open discussion of ideas. Read about millennial leadership.