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Starbase, the area in Cameron County, Texas, where SpaceX operates, has officially become a city following a vote by eligible residents, primarily SpaceX employees. With 212 votes in favor and only six against, the new municipality will be governed by a mayor and two commissioners, all with SpaceX ties. The city, covering about 1.6 square miles, will have the authority to impose a property tax and may gain powers to manage local highway access during rocket launches, a move opposed by county officials.
UBS has implemented stricter home office requirements, mandating employees to work in the office at least three days a week, including a mandatory Monday or Friday. A digital dashboard monitors compliance, raising concerns among staff about potential impacts on bonus payments, which the bank denies. Despite being more flexible than competitors like JPMorgan and Goldman Sachs, the new policy has led to internal tensions, partly due to space limitations at various locations. UBS shares rose 0.43% to CHF 25.40.
The job market for bank employees in Switzerland is contracting, with the ten largest banks advertising 25% fewer positions in April compared to the previous year. UBS and Credit Suisse are notably impacted, with job postings down 23% and 36%, respectively. Overall, vacancies are over 40% lower than in spring 2023, reflecting a broader trend of declining job opportunities in the sector.
Saudi Arabia's Vision 2030 is empowering women to become key players in the economy, with nearly half planning to start businesses in the next three years. As female investors rise, they are reshaping the financial landscape, proving that gender equality can significantly boost GDP and drive economic transformation. Continuous investment in women's leadership and access to capital is essential for sustaining this momentum.
Israeli companies are increasingly outsourcing tech roles to Eastern Europe, with a 37% rise in hiring since 2020, driven by high local salaries and a talent shortage. Despite cultural alignment, experts warn that outsourcing alone won't solve retention issues, which are exacerbated by high turnover rates and the need for flexible work arrangements. To retain talent, organizations must implement structured belonging mechanisms and recognize that flexibility is now a fundamental expectation in the competitive tech landscape.
UBS has implemented new office attendance rules requiring employees to be on-site at least three days a week, monitored through a digital dashboard. While the bank claims this aims to enhance collaboration, internal criticism arises over concerns that attendance may affect bonus payments. Compared to competitors like JPMorgan and Goldman Sachs, UBS's hybrid model is seen as more flexible, though it still faces pushback due to space issues at some locations.
The Dubai Department of Economy and Tourism, alongside the Dubai Centre for Family Businesses, has launched a guidebook to enhance the regulation and sustainability of family businesses in the emirate. This publication outlines governance structures, succession planning, and legal frameworks, while also detailing registration procedures under the UAE Family Business Law. The initiative aims to bolster the economic contribution of family businesses, which play a vital role in job creation and investment, aligning with the Dubai Economic Agenda D33's goal of doubling the emirate's economy by 2033.
UBS is implementing stricter office attendance rules, requiring employees to be in the office at least three days a week, which has raised concerns about potential impacts on bonuses. A new digital dashboard monitors compliance, leading to anxiety among staff regarding their performance assessments. As job cuts loom following the Credit Suisse takeover, uncertainty within the workforce is growing.
Dubai's short-stay rental market has experienced significant growth over the past three years, catering to both holidaymakers and new residents exploring long-term housing options. The demand from business travelers remains strong, contributing to the market's resilience despite signs of a slowdown for property investors and landlords.
Elon Musk's Starbase in Texas is on the verge of official incorporation, covering 1.6 sq miles and home to around 500 residents. If approved, Bobby Peden, a SpaceX vice-president, will become the first mayor, and the city will have the authority to levy property taxes and manage local highway closures during rocket launches.
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Starbase becomes official Texas city following resident vote in favor
10:32 05.05.2025
UBS implements stricter office attendance rules amid employee concerns
10:08 05.05.2025
job market for bank employees in switzerland sees significant decline
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09:53 05.05.2025
Saudi women driving economic transformation and innovation in Vision 2030 era
09:37 05.05.2025
Israel's tech sector faces talent drain prompting shift to offshore teams
09:20 05.05.2025
UBS implements digital attendance monitoring amid employee concerns over bonuses
09:10 05.05.2025
Dubai unveils guidebook to enhance family business governance and sustainability
09:03 05.05.2025
ubs implements office attendance monitoring raising employee concerns over bonuses
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05:31 05.05.2025
short-stay rental market in dubai shows signs of slowdown for investors
02:45 05.05.2025
elon musk's starbase city in texas on verge of official status
23:13 03.05.2025
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