• The UAE changed its working week in January 2022. Federal and local government staff now work from 7.30am to 3.30pm, from Monday to Thursday, and from 7.30am to midday on Friday. Sarah Dea / The National
    The UAE changed its working week in January 2022. Federal and local government staff now work from 7.30am to 3.30pm, from Monday to Thursday, and from 7.30am to midday on Friday. Sarah Dea / The National
  • Friday sermons and prayers are held at 1.15pm after the working week changes. Chris Whiteoak / The National
    Friday sermons and prayers are held at 1.15pm after the working week changes. Chris Whiteoak / The National
  • Schools in the UAE scheduled lessons in line with major changes to the working week. Chris Whiteoak / The National
    Schools in the UAE scheduled lessons in line with major changes to the working week. Chris Whiteoak / The National
  • No specific instructions or guidance was made relating to the private sector, but companies do not require the government’s permission to set their working week. Victor Besa / The National.
    No specific instructions or guidance was made relating to the private sector, but companies do not require the government’s permission to set their working week. Victor Besa / The National.
  • The new long weekend would ‘boost productivity and improve work-life balance’, the UAE Government Media Office said in a tweet in January when the changes were introduced. Paulo Vecina / The National
    The new long weekend would ‘boost productivity and improve work-life balance’, the UAE Government Media Office said in a tweet in January when the changes were introduced. Paulo Vecina / The National

UAE private sector likely to follow new weekend change, experts say


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Many private sector employers will opt for a Monday to Friday week, business experts say, following the government's decision to introduce a Saturday-Sunday weekend for public sector employees.

Several analysts said there was a business case and lifestyle benefits to match, with a four-and-a-half-day week a selling point when seeking top talent. A shift in school timings would be a key factor, too.

At present, most companies can trade on any day they wish and the decision is expected to be voluntary. But it is not yet clear if many would offer a shorter working week.

“The decision will make the UAE more attractive as a regional destination for foreign companies," said Ziad Daoud, chief emerging market economist at Bloomberg News.

This will increase the number of days we do business with the rest of the world, which will boost trade
Nabil Alyousuf,
International Advisory Group

Habib Al Mulla, a partner at law firm Baker & McKenzie Habib Al Mulla, said the "private sector most likely isn’t compelled to abide by the 4 1/2-day workweek until the labour ministry issues a circular to that effect”.

“Most likely, it won’t be imposed on the private sector.”

Monday to Friday is the new working week for the federal government, such as ministries and utilities, along with Dubai and Abu Dhabi governments. Schools are also set to make the shift from January.

Friday would be a half day ending at midday, with Saturday and Sunday also a weekend.

Speaking to The National, Abdulrahman Al Awar, Minister of Human Resources and Emiratisation, said private sector employers would not be told to fall in line with the new working week.

"Private sector companies are smart and they have been operating in a very competitive market... they will make their decision based on what they feel that will improve their position," he said.

"This decision will allow the UAE economy to be more compatible.

"It will eliminate the weekend gap - and it was a much longer gap in the past - and it will allow more business and exchange of trade with the world economy."

'Top work destination'

“This will align the UAE with global markets and make it easier for international corporations to do business,” said Nabil Alyousuf, chief executive officer of Dubai-based International Advisory Group.

“This will increase the number of days we do business with the rest of the world, which will boost trade.”

Nevin Lewis is the chief executive of Black and Grey Human Resources and has more than 150 clients in the private sector.

“Many private companies have already given flexibility in terms of working hours and a four and a half-day working week could help some employees,” he said.

“I feel it's going to make UAE the world's top work destination for the best professionals to come and work from if private sector follows suit.”

Local business owner Fahad Ahmed, manager of Gatewayz Tourism, said some sectors, like travel and visa companies, would need to have the same working week as the government.

The travel visas he secures for his customers can only be processed on weekdays.

“We are doing Dubai visas and if we apply for the visa on a day that is a weekend for the government staff, then it won’t be processed,” he said.

“So, obviously we would need to have the same weekend as the government.”

French business

France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.

From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Revibe%20%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Hamza%20Iraqui%20and%20Abdessamad%20Ben%20Zakour%20%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Refurbished%20electronics%20%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2410m%20%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Resonance%20and%20various%20others%0D%3C%2Fp%3E%0A
While you're here
THE BIG THREE

NOVAK DJOKOVIC
19 grand slam singles titles
Wimbledon: 5 (2011, 14, 15, 18, 19)
French Open: 2 (2016, 21)
US Open: 3 (2011, 15, 18)
Australian Open: 9 (2008, 11, 12, 13, 15, 16, 19, 20, 21)
Prize money: $150m

ROGER FEDERER
20 grand slam singles titles
Wimbledon: 8 (2003, 04, 05, 06, 07, 09, 12, 17)
French Open: 1 (2009)
US Open: 5 (2004, 05, 06, 07, 08)
Australian Open: 6 (2004, 06, 07, 10, 17, 18)
Prize money: $130m

RAFAEL NADAL
20 grand slam singles titles
Wimbledon: 2 (2008, 10)
French Open: 13 (2005, 06, 07, 08, 10, 11, 12, 13, 14, 17, 18, 19, 20)
US Open: 4 (2010, 13, 17, 19)
Australian Open: 1 (2009)
Prize money: $125m

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

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

F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

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%3Cp%3EAriana%E2%80%99s%20Persian%20Kitchen%3Cbr%3EDinner%20by%20Heston%20Blumenthal%3Cbr%3EEstiatorio%20Milos%3Cbr%3EHouse%20of%20Desserts%3Cbr%3EJaleo%20by%20Jose%20Andres%3Cbr%3ELa%20Mar%3Cbr%3ELing%20Ling%3Cbr%3ELittle%20Venice%20Cake%20Company%3Cbr%3EMalibu%2090265%3Cbr%3ENobu%20by%20the%20Beach%3Cbr%3EResonance%20by%20Heston%20Blumenthal%3Cbr%3EThe%20Royal%20Tearoom%C2%A0%3C%2Fp%3E%0A
UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

The Vile

Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah

Director: Majid Al Ansari

Rating: 4/5

SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
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Easter%20Sunday
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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.”

MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

Updated: December 08, 2021, 5:08 AM