Sidhant Mathur is a second year economics student at University of California, Los Angeles. Pawan Singh / The National
Sidhant Mathur is a second year economics student at University of California, Los Angeles. Pawan Singh / The National
Sidhant Mathur is a second year economics student at University of California, Los Angeles. Pawan Singh / The National
Sidhant Mathur is a second year economics student at University of California, Los Angeles. Pawan Singh / The National

Coronavirus: flexibility urged as UAE students enter job market


Patrick Ryan
  • English
  • Arabic

When Dubai resident Sidharth Marthur began studying a business degree at the University of California, Los Angeles, last year, his future seemed bright.

But that was before Covid-19 struck, leaving the global economy a very different place to where it was nine months ago.

Many businesses around the world have since been forced to put their recruitment plans on hold as they instead consider mass redundancies, unpaid leave and salary cuts.

But despite this bleak outlook, Mr Marthur, 20, from India, said he remained confident of graduating from UCLA next year and finding work.

"Location matters," he told The National. "The UAE has not been hit as badly as many other countries.

“Everywhere has suffered but the UAE has been able to open up its economy quicker than most.”

Mr Marthur, who is living with his family in Dubai while the pandemic runs its course, said he was looking forward to a career in the financial sector but was keeping his options open.

He said he was aware of job losses and that competition to find work was likely to become tougher.

He also said some of his friends had had existing offers of employment postponed by companies because of the effect of the pandemic. “I’m uncertain how things are going to pan out,” he said.

“I have some friends who were offered jobs after their graduation this year but now they have been told the start date has been delayed.

“So many have lost their jobs and there are more people than ever looking for work, which creates additional competition.

“I would expect a starting salary of around Dh20,000. However, these are uncertain times and I understand salaries might take a hit.”

Graduates need to make potential employers aware of what they can offer, says David Mackenzie, group managing director of recruitment consultancy Mackenzie Jones. David Mackenzie
Graduates need to make potential employers aware of what they can offer, says David Mackenzie, group managing director of recruitment consultancy Mackenzie Jones. David Mackenzie

Shruthi Dhanwanthary, 30, from Dubai, also gave a warning against complacency.

The recent graduate, who has just joined an educational technology firm, said it paid to keep an open mind. 

“I did an MBA in contemporary marketing management and graduated three months ago,” she said.

“I noticed there were suddenly a lot more jobs being advertised in the education and technology sector because of what was happening with Covid-19 and children having to learn from home.

“You are seeing companies doing a lot more online seminars and conference calls, and I think it’s an area that’s only going to get busier.

“My advice to graduates is to be ready to change your expectations.” Divya Rajiv Shishodia, 21, a graduate of SP Jain School of Global Management in Dubai, urged her contemporaries to remain focused and upbeat.

She revealed that she had recently been successful in finding work despite finishing her studies only in May.  

“Everybody was telling me ‘you won’t find a job because companies are all cutting back due to Covid-19’,” she said.

“I graduated in May and already have been offered a job at a digital marketing firm. You just have to stay positive and be focused on what you want.”

  • A staff member directs swimmers to the correct swimming zone at Hamdan Sports Complex. Pools have reopened in Dubai Getty Images
    A staff member directs swimmers to the correct swimming zone at Hamdan Sports Complex. Pools have reopened in Dubai Getty Images
  • Swimmers train at Hamdan Sports Complex in Dubai, United Arab Emirates. Getty Images
    Swimmers train at Hamdan Sports Complex in Dubai, United Arab Emirates. Getty Images
  • A worker is seen disinfecting the pool area in between training sessions at Hamdan Sports Complex in Dubai. Getty Images
    A worker is seen disinfecting the pool area in between training sessions at Hamdan Sports Complex in Dubai. Getty Images
  • A signs showing social distancing regulations is seen at Hamdan Sports Complex. Getty Images
    A signs showing social distancing regulations is seen at Hamdan Sports Complex. Getty Images
  • A swimming coach wearing a plastic face visor is seen at Hamdan Sports Complex. Getty Images
    A swimming coach wearing a plastic face visor is seen at Hamdan Sports Complex. Getty Images
  • Pakistani citizens who live in Dubai line up outside Dnata. They’ve received a confirmation call from the consulate regarding their repatriation flights. Reem Mohammed / The National
    Pakistani citizens who live in Dubai line up outside Dnata. They’ve received a confirmation call from the consulate regarding their repatriation flights. Reem Mohammed / The National
  • Pakistani citizens who live in Dubai line up outside Dnata. They’ve received a confirmation call from the consulate regarding their repatriation flights. Reem Mohammed / The National
    Pakistani citizens who live in Dubai line up outside Dnata. They’ve received a confirmation call from the consulate regarding their repatriation flights. Reem Mohammed / The National
  • Pakistani citizens who live in Dubai line up outside Dnata. They’ve received a confirmation call from the consulate regarding their repatriation flights. Reem Mohammed / The National
    Pakistani citizens who live in Dubai line up outside Dnata. They’ve received a confirmation call from the consulate regarding their repatriation flights. Reem Mohammed / The National
  • Kayakers race off the coast of Dubai. AP Photo
    Kayakers race off the coast of Dubai. AP Photo
  • A woman watches kayak racers take off from the coast of Dubai. AP Photo
    A woman watches kayak racers take off from the coast of Dubai. AP Photo
  • Kayakers race in front of the Burj Khalifa, the world's tallest building, off the coast of Dubai. AP Photo
    Kayakers race in front of the Burj Khalifa, the world's tallest building, off the coast of Dubai. AP Photo

Claire Donnelly, from MHC Consulting, a business and HR consultancy company in Dubai, agreed that lower wages were a likely outcome for prospective employees. She also said increased competition for work was inevitable in the current climate, and that graduates must have realistic expectations.

“It’s going to be harder than ever for graduates to find jobs because the competition is going to be phenomenal,” Ms Donnelly said.

“People with experience are more likely to take a lower wage now, which is more appealing to companies than hiring someone they will have to take the time to sit down with and train.”

David Mackenzie, group managing director for recruitment firm Mackenzie Jones, said graduates could usually expect a starting salary of Dh10,000 a month, but internships should also be closely considered.

“My advice to graduates who can’t get anything at the moment is to offer themselves up free for a few months, like a ‘try before you buy’,” he said. “This is the perfect time to do it because all companies are cutting costs right now, and if [interns] do well, they might be offered a permanent job later.”

Not all companies in the region are looking to cut costs, however. Some are still hiring. 

Serco Middle East, a global outsourcing company that employs more than 4,500 people in the region, recently that announced its 2020 graduate programme would start in September.

“We have an extremely important responsibility to provide opportunities for young talent in the region,” said Hana Abu Kharmeh, the company’s human resources director. “I know a lot of companies have put development on hold but there still needs to be a commitment to help create the leaders of tomorrow.”

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The National selections

6.30pm: Gifts Of Gold

7.05pm Final Song

7.40pm Equilateral

8.15pm Dark Of Night

8.50pm Mythical Magic

9.25pm Franz Kafka

While you're here
What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

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Our legal consultants

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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The Light of the Moon

Director: Jessica M Thompson

Starring: Stephanie Beatriz, Michael Stahl-David

Three stars

In-demand jobs and monthly salaries
  • Technology expert in robotics and automation: Dh20,000 to Dh40,000 
  • Energy engineer: Dh25,000 to Dh30,000 
  • Production engineer: Dh30,000 to Dh40,000 
  • Data-driven supply chain management professional: Dh30,000 to Dh50,000 
  • HR leader: Dh40,000 to Dh60,000 
  • Engineering leader: Dh30,000 to Dh55,000 
  • Project manager: Dh55,000 to Dh65,000 
  • Senior reservoir engineer: Dh40,000 to Dh55,000 
  • Senior drilling engineer: Dh38,000 to Dh46,000 
  • Senior process engineer: Dh28,000 to Dh38,000 
  • Senior maintenance engineer: Dh22,000 to Dh34,000 
  • Field engineer: Dh6,500 to Dh7,500
  • Field supervisor: Dh9,000 to Dh12,000
  • Field operator: Dh5,000 to Dh7,000
Milestones on the road to union

1970

October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar. 

December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.

1971

March 1:  Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.

July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.

July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.

August 6:  The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.

August 15: Bahrain becomes independent.

September 3: Qatar becomes independent.

November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.

November 29:  At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.

November 30: Despite  a power sharing agreement, Tehran takes full control of Abu Musa. 

November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties

December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.

December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.

December 9: UAE joins the United Nations.

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SPECS
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Sukuk explained

Sukuk are Sharia-compliant financial certificates issued by governments, corporates and other entities. While as an asset class they resemble conventional bonds, there are some significant differences. As interest is prohibited under Sharia, sukuk must contain an underlying transaction, for example a leaseback agreement, and the income that is paid to investors is generated by the underlying asset. Investors must also be prepared to share in both the profits and losses of an enterprise. Nevertheless, sukuk are similar to conventional bonds in that they provide regular payments, and are considered less risky than equities. Most investors would not buy sukuk directly due to high minimum subscriptions, but invest via funds.

Spider-Man: No Way Home

Director: Jon Watts

Stars: Tom Holland, Zendaya, Jacob Batalon 

Rating:*****

match info

Athletic Bilbao 1 (Muniain 37')

Atletico Madrid 1 (Costa 39')

Man of the match  Iker Muniain (Athletic Bilbao)

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Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

START-UPS%20IN%20BATCH%204%20OF%20SANABIL%20500'S%20ACCELERATOR%20PROGRAMME
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Austrian Grand Prix race timings

Weekend schedule for Austrian Grand Prix - all timings UAE

Friday

Noon-1.30pm First practice

4-5.30pm Second practice

Saturday

1-2pm Final practice

4pm Qualifying

Sunday

4pm Austrian Grand Prix (71 laps)

THE%20HOLDOVERS
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The specs

Engine: 2.0-litre four-cylinder turbo

Power: 268hp at 5,600rpm

Torque: 380Nm at 4,800rpm

Transmission: CVT auto

Fuel consumption: 9.5L/100km

On sale: now

Price: from Dh195,000 

Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
SPECS
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WITHIN%20SAND
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Fund-raising tips for start-ups

Develop an innovative business concept

Have the ability to differentiate yourself from competitors

Put in place a business continuity plan after Covid-19

Prepare for the worst-case scenario (further lockdowns, long wait for a vaccine, etc.) 

Have enough cash to stay afloat for the next 12 to 18 months

Be creative and innovative to reduce expenses

Be prepared to use Covid-19 as an opportunity for your business

* Tips from Jassim Al Marzooqi and Walid Hanna

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Company%20Profile
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India team for Sri Lanka series

Test squad: Rohit Sharma (captain), Priyank Panchal, Mayank Agarwal, Virat Kohli, Shreyas Iyer, Hanuma Vihari, Shubhman Gill, Rishabh Pant (wk), KS Bharath (wk), Ravindra Jadeja, Jayant Yadav, Ravichandran Ashwin, Kuldeep Yadav, Sourabh Kumar, Mohammed Siraj, Umesh Yadav, Mohammed Shami, Jasprit Bumrah.

T20 squad: Rohit Sharma (captain), Ruturaj Gaikwad, Shreyas Iyer, Surya Kumar Yadav, Sanju Samson, Ishan Kishan (wk), Venkatesh Iyer, Deepak Chahar, Deepak Hooda, Ravindra Jadeja, Yuzvendra Chahal, Ravi Bishnoi, Kuldeep Yadav, Mohammed Siraj, Bhuvneshwar Kumar, Harshal Patel, Jasprit Bumrah, Avesh Khan

'Hocus%20Pocus%202'
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RESULTS
%3Cp%3E%0D%3Cstrong%3E1.45pm%3A%3C%2Fstrong%3E%20Green%20Oasis%20Trading%20%E2%80%93%20Maiden%20(PA)%20Dh50%2C000%20(Dirt)%201%2C400m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%3C%2Fstrong%3E%20Meeqat%2C%20Saif%20Al%20Balushi%20(jockey)%2C%20Khalifa%20Al%20Neyadi%20(trainer)%0D%3Cbr%3E%3Cstrong%3E2.15pm%3A%20%3C%2Fstrong%3EAl%20Shafar%20Investment%20%E2%80%93%20Maiden%20(TB)%20Dh60%2C000%20(D)%201%2C400m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%3C%2Fstrong%3E%20Flying%20Hunter%2C%20Ray%20Dawson%2C%20Ahmad%20bin%20Harmash%0D%3Cbr%3E%3Cstrong%3E2.45pm%3A%20%3C%2Fstrong%3EThe%20Union%2051%20Cup%20%E2%80%93%20Handicap%20(TB)%20Dh84%2C000%20(D)%201%2C400m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%3C%2Fstrong%3E%20Ibra%20Attack%2C%20Adrie%20de%20Vries%2C%20Ahmed%20Al%20Shemaili%0D%3Cbr%3E%3Cstrong%3E3.15pm%3A%3C%2Fstrong%3E%20ASCANA%20Thakaful%20%E2%80%93%20Maiden%20(TB)%20Dh60%2C000%20(D)%201%2C200m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%3C%2Fstrong%3E%20Onda%20Ruggente%2C%20Royston%20Ffrench%2C%20Salem%20bin%20Ghadayer%0D%3Cbr%3E%3Cstrong%3E3.45pm%3A%20%3C%2Fstrong%3ECommercial%20Bank%20of%20Dubai%20%E2%80%93%20Handicap%20(TB)%20Dh76%2C000%20(D)%201%2C200m%0D%3Cbr%3EWinner%3A%20Dignity%20Joy%2C%20Antonio%20Fresu%2C%20Musabah%20Al%20Muhairi%0D%3Cbr%3E%3Cstrong%3E4.15pm%3A%20%3C%2Fstrong%3EDubai%20Real%20Estate%20Centre%20%E2%80%93%20Handicap%20(TB)%20Dh76%2C000%20(D)%201%2C600m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%3C%2Fstrong%3E%20Tolmount%2C%20Xavier%20Ziani%2C%20Salem%20bin%20Ghadayer%0D%3Cbr%3E%3Cstrong%3E4.45pm%3A%20%3C%2Fstrong%3EJebel%20Ali%20Racecourse%20%E2%80%93%20Handicap%20(TB)%20Dh84%2C000%20(D)%201%2C950m%0D%3Cbr%3E%3Cstrong%3EWinner%3A%20%3C%2Fstrong%3ERakeez%2C%20Tadhg%20O%E2%80%99Shea%2C%20Bhupat%20Seemar%3C%2Fp%3E%0A
Tax authority targets shisha levy evasion

The Federal Tax Authority will track shisha imports with electronic markers to protect customers and ensure levies have been paid.

Khalid Ali Al Bustani, director of the tax authority, on Sunday said the move is to "prevent tax evasion and support the authority’s tax collection efforts".

The scheme’s first phase, which came into effect on 1st January, 2019, covers all types of imported and domestically produced and distributed cigarettes. As of May 1, importing any type of cigarettes without the digital marks will be prohibited.

He said the latest phase will see imported and locally produced shisha tobacco tracked by the final quarter of this year.

"The FTA also maintains ongoing communication with concerned companies, to help them adapt their systems to meet our requirements and coordinate between all parties involved," he said.

As with cigarettes, shisha was hit with a 100 per cent tax in October 2017, though manufacturers and cafes absorbed some of the costs to prevent prices doubling.

'The Lost Daughter'

Director: Maggie Gyllenhaal

Starring: Olivia Colman, Jessie Buckley, Dakota Johnson

Rating: 4/5