A new recruitment app is to be launched next month to help boost the country's Emiratisation drive.
The Falek Tayyeb platform will connect local talent to opportunities in the UAE and streamline the job-search process for citizens.
It will also ensure Emiratis can easily find and apply for roles that match their skills and career goals.
TASC Outsourcing, a staffing and human resources solutions company, launched the app on Monday at the Abu Dhabi Exhibition Centre and said it was a first for the region and was directly aligned with the UAE's Nafis programme.
"This dedicated job-search platform will offer an exclusive channel to enter the UAE's dynamic work environment," said TASC founder and chief executive Mahesh Shahdadpuri.
We're a step closer to fulfilling our promise to UAE nationals, helping them connect with their dream jobs in their own country
Mahesh Shahdadpuri,
TASC founder and chief executive
"With Falek Tayyeb, we're a step closer to fulfilling our promise to UAE nationals, helping them connect with their dream jobs in their own country.
"It was time we took the lead and created the first-ever platform and application, a dedicated, reliable source of recruiting locals for organisations, and a job search for Emiratis that is successfully aligned with the UAE government's Emiratisation goals."
The app is integrated with ChatGPT and helps users to create and update their CVs, as well as providing Emiratis with opportunities to enhance their professional and personal growth.
Organisations will also be able to display job openings specifically for Emirati talent, helping to develop a more direct connection with professionals in the UAE.
Citizens will be able to download the app in early December from the App Store or Google Store, with users required to register so they can find employment opportunities in the UAE.
The launch follows a survey by TASC that found 77 per cent of Emiratis preferred job portals and websites for employment searches.
It also revealed a growing dissatisfaction with current salaries among Emiratis, indicating a divide between job seekers and the available opportunities.
The Ministry of Human Resources and Emiratisation is leading a nationwide push to increase the participation of citizens in the private sector, which is viewed as a major driver of the economy.
Companies must increase their Emirati workforce by 1 per cent every six months under the initiative.
Employers in the UAE with at least 50 members of staff are expected to meet a 4 per cent target by the end of the year.
The Emirati employment rate will increase to 6 per cent by the end of next year, 8 per cent in 2025 and 10 per cent in 2026.
Failing to hit with the targets will result in fines, which have increased from Dh6,000 to Dh7,000 ($1,633 to $1,900) a month for each position not filled by an Emirati as required under the plan.
Heavy fines have been imposed on companies and people seeking to manipulate the targets to avoid financial penalties.
More than 80,000 Emiratis are now working in the private sector, according to figures released by the ministry – up 52,000 since September 2021.
Emiratisation drive - in pictures
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
UAE currency: the story behind the money in your pockets
Suggested picnic spots
Abu Dhabi
Umm Al Emarat Park
Yas Gateway Park
Delma Park
Al Bateen beach
Saadiyaat beach
The Corniche
Zayed Sports City
Dubai
Kite Beach
Zabeel Park
Al Nahda Pond Park
Mushrif Park
Safa Park
Al Mamzar Beach Park
Al Qudrah Lakes
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
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UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
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.”
UK’s AI plan
- AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
- £10bn AI growth zone in South Wales to create 5,000 jobs
- £100m of government support for startups building AI hardware products
- £250m to train new AI models
KINGDOM%20OF%20THE%20PLANET%20OF%20THE%20APES
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Hotel Silence
Auður Ava Ólafsdóttir
Pushkin Press
The biog
Occupation: Key marker and auto electrician
Hometown: Ghazala, Syria
Date of arrival in Abu Dhabi: May 15, 1978
Family: 11 siblings, a wife, three sons and one daughter
Favourite place in UAE: Abu Dhabi
Favourite hobby: I like to do a mix of things, like listening to poetry for example.
Favourite Syrian artist: Sabah Fakhri, a tenor from Aleppo
Favourite food: fresh fish
