Research News departments to keep a grip on rising levels of loan defaults .
Research News departments to keep a grip on rising levels of loan defaults .
The oil and gas sector , which has been battered by two years of low oil prices , continues to downsize . However , the pace has moderated , with only a third of firms planning job cuts in 2017 , compared with almost half in 2016 . Oil firm executives who participated in the survey reported greater optimism , with 77 % expecting their 2017 revenues to be higher , thanks to higher oil prices following output cuts agreed in last November ’ s OPEC meeting . to cut staff numbers this year , only marginally better than the 55 % level who reported having cut jobs in 2016 . The sector has been hit hard by cuts in government budgets and cancelled or delayed projects . It has also suffered billions of dollars in delayed payments , in some cases resulting in wages for thousands of workers going unpaid for several months .
According to media reports , the Saudi government recently started repaying long overdue payments to its contractors , shortly after its successful $ 17 billion fund raising in international bond markets .
Construction remains among the region ’ s worst performing sectors , according to GulfTalent ’ s survey . 45 % of construction firms who participated in the survey reported plans
Shifting Skill Needs
GulfTalent ’ s research found that many of the same companies reducing staff plan to
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