Mawya Al Qaissieh speaks during the Emirati Youth Forum. Her career has helped her to find hidden talents. Christopher Pike / The National
Mawya Al Qaissieh speaks during the Emirati Youth Forum. Her career has helped her to find hidden talents. Christopher Pike / The National
Mawya Al Qaissieh speaks during the Emirati Youth Forum. Her career has helped her to find hidden talents. Christopher Pike / The National
Mawya Al Qaissieh speaks during the Emirati Youth Forum. Her career has helped her to find hidden talents. Christopher Pike / The National

Private sector offers a journey of discovery


  • English
  • Arabic

Mawya Al Qaissieh, a 27-year-old Emirati, moved from the public to the private sector and discovered talents she never knew she had.

After graduating, weren't you set on getting a government job?

After I graduated I thought I'll never work in the private sector. I ended up working for Abu Dhabi Terminals. It didn't seem a particularly creative environment but I thought I would give it a try to see it as a challenge - how to make it more fun.

Did you manage?

I started as a management trainee on a two-year programme. I was promoted within a year, rather than the usual two years, to the marketing department. There I was made senior marketing officer. Two things helped my promotion. First was an initiative I suggested to do our customer services survey online rather than manually. And second was being involved in the cruise season, which was my passion.

But you were curious about the private sector.

Yes. I had heard about the stereotypes … the longer hours, the pay, that it wasn't as stable. But I thought I have the basic foundations working for the Government, let me take the risk. I am still young. If I can't do it now I may get to a point in the future where I can't afford to take that risk.

What happened next?

I heard that they were hiring at Reem Investments, the master developer of Reem Island. It seemed like [the job] would be more diverse. I am not a person who likes routine. I like learning lots of different things. Again, I was promoted within a year. Now I am the manager of corporate communications.

What would you say you have learnt?

I discovered that there are some talents hidden inside you and you don't know what they are until you start working. The first and second years of working are so crucial for that. I also didn't think I would be able to implement so many of the things I learnt at university so soon in my working life.

Did you have to take a salary cut?

It wasn't really an issue. I thought I am still young, I am still learning. I believe that when you gain knowledge and expertise, money will just flow after you. So I wasn't really concerned.

And is working in the private sector very different?

There are 17 nationalities where I work. It was a challenge [but] I am the type of person who likes to see different cultures and learn form others. The surprising part was when I walked into Reem Investments, they started asking me about Emirati culture. I was more than happy to answer. I'd rather they asked me rather than just hearing from here and there.

What would be your advice be to young people?

If you want security and stability, then a government job is probably for you. If you want to better understand the business world and maybe one day set up your own business, then go into the private sector. It's very important to focus on what you want.

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The specs: 2019 Jeep Wrangler

Price, base: Dh132,000

Engine: 3.6-litre V6

Gearbox: Eight-speed automatic

Power: 285hp @ 6,400rpm

Torque: 347Nm @ 4,100rpm

Fuel economy, combined: 9.6L to 10.3L / 100km

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
'Doctor Strange in the Multiverse Of Madness' 

   

 

Director: Sam Raimi

 

Cast: Benedict Cumberbatch, Elizabeth Olsen, Chiwetel Ejiofor, Benedict Wong, Xochitl Gomez, Michael Stuhlbarg and Rachel McAdams

 

Rating: 3/5

 
The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

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Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Director: Venkat Prabhu
Rating: 2/5
The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
Napoleon
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

The specs

Engine: 6.2-litre V8

Transmission: ten-speed

Power: 420bhp

Torque: 624Nm

Price: Dh325,125

On sale: Now