Filipino HR professionals to assist compatriots


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DUBAI // Filipinos in the UAE who are facing problems at work or seeking new jobs can now turn to a new group of human resources professionals for guidance. Alan Bacason, the president of the Filipino Human Resources Practitioners' Association, which refers to itself as Fil-HR, said the group intends to act as a "conduit" between Filipino workers and the UAE Ministry of Labour. It will also look into labour-related issues and problems such as unpaid salaries.

"I'd like our group, which is recognised by the Philippine government, to represent the workers with labour-related concerns," he said. "At the moment, Filipino workers contact the ministry for help. We'd like to establish a link with the labour ministry." Nearly 600,000 Filipinos live and work in the Emirates, accounting for 12 per cent of the country's population, according to the 2008 estimate of the Commission on Filipinos Overseas in Manila.

Fil-HR, which is accredited by the Philippine embassy and the consulate, would initially focus on helping its members gain knowledge and implement the global best practices in HR, Mr Bacason said. It joins a separate push by community groups, who are working on a concept paper due next month, for a rights and welfare committee that would help prevent abuse of Filipinos in the country. Florendo Padilla, 28, a recruitment consultant at Manpower Professional in Abu Dhabi, said the group hoped to prevent cases of illegal recruitment.

"The Fil-HR could provide the information on the recruitment process to Filipinos in the UAE, and they could pass this on to their relatives back home who wish to come over," he said. Fil-HR's first general assembly will take place on Friday when members will share their knowledge on UAE labour laws and future trends in HR, according to Mr Bacason. Grace Princesa, the Philippine ambassador to the UAE, will lead the oath-taking of the group's officers and members at the meeting at the Holiday Inn Express in Dubai.

Mr Bacason, 46, who works as an assistant manager specialising in benefits and compensation at Dubai Maritime City Authority, has been working in the Emirates for the past seven years. Last April, he joined 11 other HR professionals to establish Fil-HR, which has since grown to 75 members. In addition to legal consultants, Mr Bacason said they would also reach out to doctors to cover health and safety aspects in the workplace, and employees at insurance firms who are handling medical and life insurance.

Those who would like advice on HR or labour issues may send an e-mail to fhrpa_uae@yahoo.com. @Email:rruiz@thenational.ae

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Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

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Date Started: May 2015

Founders: Rami Shaar and Jad Halaoui

Based: Dubai, UAE

Sector: Laundry

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Funding: about $8m

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Red flags
  • Promises of high, fixed or 'guaranteed' returns.
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Courtesy: Carol Glynn, founder of Conscious Finance Coaching

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Group E: River Plate, Urawa, Monterrey, Inter Milan.

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Some of Darwish's last words

"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008

His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.

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.”

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Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

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Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

Global Fungi Facts

• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil

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