Employees in the UAE have told ARN News how they feel, after a new report found that eight out of every 10 people in the country fear getting laid off.
The study by McKinsey & Company also revealed that 40 percent of people in the UAE and Saudi Arabia are cutting down on spending and paying closer attention to prices.
Here's what these residents said:
Meanwhile, the report also found that consumers are also becoming less brand loyal, with at least 15 per cent switching to less expensive brands.
UAE to invest 40 billion euros in Germany to deepen economic ties
The UAE has announced plans to invest 40 billion euros in Germany, targeting key sectors including industry, advanced technology, artificial intelligence, digital infrastructure and energy.
UAE, Germany announce new agreements and strategic dialogue
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and German Chancellor Friedrich Merz have witnessed the announcement of a series of agreements, memoranda of understanding and letters of intent aimed at expanding cooperation.
UAE President, German Chancellor reaffirm strategic partnership
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and German Chancellor Friedrich Merz have discussed ways to further strengthen the strategic partnership between the UAE and Germany.
H.H. Sheikh Mohamed highlights UAE-Germany ties at Bundestag
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has visited the German Bundestag, the federal parliament, in Berlin, as part of his state visit to Germany.
