Sharjah's public sector will adopt a four-day working week and a three-day weekend - giving employees an extra half day off than the rest of the country.
Sharjah's Executive Council announced the decision on Thursday. It will come into effect on January 1, 2022.
Employees will work from 7.30am to 3.30pm, which is 60 to 90 minutes longer than they do at present.
The decision follows the federal government's landmark shift to a Saturday-Sunday weekend, with a half day of work on Friday. The UAE's labour minister said the private sector will receive no official instruction to make the change, and can do so at their own discretion.
It makes Sharjah's government sector the first in the Gulf and Middle East to fully adopt a four-day working week. Dubai, Abu Dhabi, Ras Al Khaimah and Fujairah's local governments have all committed to a 4.5 day working week.
Sheikh Sultan bin Ahmed Al Qasimi, Deputy Ruler of Sharjah, announced the move after instructions from the Ruler of Sharjah.
Schools throughout the country are already braced for the new Monday to Friday working week, with schools expected to open with a new timetable on Monday, January 3. There is an extra national holiday on Sunday, January 2, 2022.
'More quality family time'
Sheikha Tariq, an Emirati public sector employee, told The National she and her colleagues were elated by the news.
She said it was clear that more work will have to be got through during the working week in return for the extra time off.
“This will not only give us more time to spend with our families in a way that will boost the emirate’s efforts of preserving the family unit, but will also encourage employees to perform better at work,” she said.
“It's a great decision in terms of more family bonding, religious commitment and increased productivity."
Abdul Jaleel Al Bloushi, who works for a government HR department in the town of Kalba, said employees would need to show they could make a four-day week work.
"You see by the working hours, you will notice they have been extended. And now employees including myself have an incentive to do better performance," he said.
He said many will appreciate the chance to be "more present in the lives of our children and families".
School situation not yet clear
Although it would appear likely that schools could fall in line with government work hours, headteachers said it was too soon to say whether pupils would attend classes on Fridays or not.
The country's public schools, largely attended by Emiratis, are overseen by a federal authority, while Sharjah's private schools are regulated by a local education authority.
Ibraheem Barakeh, director of the Al Shola group of private schools, said there were many factors to consider.
"We haven’t received anything official related to this decision, in terms of the shape of the school week," he said.
"We are eagerly waiting for details in order to be able to coordinate not only the new school week but also what’s connected to it, such as school holidays, final exams in each of the terms.
"We expect all of these factors were taken into consideration before the decision was taken."
Sharjah's ancient Egypt exhibition dazzles visitors - in pictures
Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20WallyGPT%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2014%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3ESaeid%20and%20Sami%20Hejazi%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%3Cbr%3E%3Cstrong%3EInvestment%20raised%3A%20%3C%2Fstrong%3E%247.1%20million%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2020%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%20round%3C%2Fp%3E%0A
The specs: 2018 Nissan Altima
Price, base / as tested: Dh78,000 / Dh97,650
Engine: 2.5-litre in-line four-cylinder
Power: 182hp @ 6,000rpm
Torque: 244Nm @ 4,000rpm
Transmission: Continuously variable tranmission
Fuel consumption, combined: 7.6L / 100km
Results
5pm: Al Maha Stables – Maiden (PA) Dh80,000 (Turf) 1,600m; Winner: Reem Baynounah, Fernando Jara (jockey), Mohamed Daggash (trainer)
5.30pm: Wathba Stallions Cup – Maiden (PA) Dh70,000 (T) 1,600m; Winner: AF Afham, Tadhg O’Shea, Ernst Oertel
6pm: Emirates Fillies Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Ghallieah, Sebastien Martino, Jean-Claude Pecout
6.30pm: Emirates Colts Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Yas Xmnsor, Saif Al Balushi, Khalifa Al Neyadi
7pm: The President’s Cup – Group 1 (PA) Dh2,500,000 (T) 2,200m; Winner: Somoud, Adrie de Vries, Jean de Roualle
7.30pm: The President’s Cup – Listed (TB) Dh380,000 (T) 1,400m; Winner: Haqeeqy, Dane O’Neill, John Hyde.
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
More coverage from the Future Forum
The Baghdad Clock
Shahad Al Rawi, Oneworld
Avatar%20(2009)
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EJames%20Cameron%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3ESam%20Worthington%2C%20Zoe%20Saldana%2C%20Sigourney%20Weaver%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A
Read more about the coronavirus
Killing of Qassem Suleimani
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.”