UAE to introduce unemployment insurance in latest economic reform

UAE: The United Arab Emirates will introduce a form of unemployment insurance, the cabinet said on Monday, the latest reform by the Gulf country as it strives to attract talent and investment amid increasing regional economic competition. Insured workers would receive some money for a limited time period if made unemployed, UAE Prime Minister and Vice-President Sheikh Mohammed bin Rashid al-Maktoum, who is also the ruler of trade hub Dubai, said on Twitter, citing a cabinet decision. intention is to strengthen labour market competitiveness, provide a social umbrella for workers and establish a stable working environment for all," the statement said.