ABU DHABI // Young Emiratis say international job opportunities would be an incentive to attract them to the private sector.
Salary packages are only the second priority when considering the private sector, with role models the third most influential factor. Friends and family working within the sector is the least important consideration.
About 200 students, male and female, gave their views in a live poll at a youth forum on Sunday organised by Tawdheef, the Emirati careers and recruitment organisation.
The poll reflected a shift towards the private sector, with as many young people wishing to become entrepreneurs as to work in the public sector. Of the four million people who work in the private sector only about 20,000 are Emirati, from a working-age population of about 225,000.
The results of the poll are “great information for employers to understand”, said the moderator of the event, AbdulMuttalib Al Hashimi, managing director of a consultancy that helps companies with Emiratisation. “I was surprised by the fact people want opportunities to work abroad.”
He said a desire to become an entrepreneur was a trend. “There is the perception that Emiratis are only open to government work but this shows that not only are they are open to more than that, but they’re open to international opportunities, which is a great message for employers.”
Anas Bukhash, 32, was one of the Emirati role models used to inspire the students towards the private sector. A co-founder of Adhaaf football centres, which launched in 2009 with two indoor facilities and now has 17, Mr Bukhash said: “What surprised me was that I thought packages, the salaries and benefits, would be the leading incentive for going to the private sector, but it was going abroad. I thought most people were comfortable staying here.”
He said hearing stories such as his was important for Emirati youth.
“I could bring Bill Gates here and, yes, they’d be inspired, but they need to hear it from someone they can relate to, from their own culture.”
Latifa Al Mansoori, 20, a second-year finance student at Zayed University, said the event had opened her eyes to the opportunities in the private sector and hearing such success stories from Emirati role models was vital for her peers.
"This has helped me as it made me ask myself many questions that led to other ideas and has made me think more about the private sector. They say it's more challenging and you will benefit more because there are many nationalities and they all do their bit to serve the company and make it a success. It made me realise the private sector could give me more experience," she said.
Fatima Al Hammadi, 21, who recently graduated from Zayed University with a degree in finance, said: “I wanted some advice on where to go. I’m a bit lost. I don’t know whether to head to the private or public sector but this has given me thoughts to go towards the private sector. It will give you the self-development you need.”
More role models such as Mr Bukhash were needed to help Emirati youth plot their career paths, she said.
“We need these to make it more accessible to go to the private sector. I know many people in the government sector but if they heard these kind of talks, they would be more inspired to go to the private sector and develop themselves.”
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The specs
Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder
Power: 220 and 280 horsepower
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Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
- Stay invested: Time in the market, not timing the market, is critical to long-term gains.
- Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
- Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
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The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
Killing of Qassem Suleimani
Killing of Qassem Suleimani
UAE currency: the story behind the money in your pockets
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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Results
2-15pm: Commercial Bank Of Dubai – Conditions (TB) Dh100,000 (Dirt) 1,400m; Winner: Al Habash, Patrick Cosgrave (jockey), Bhupat Seemar (trainer)
2.45pm: Al Shafar Investment – Handicap (TB) Dh80,000 (D) 1,200m; Winner: Day Approach, Ray Dawson, Ahmad bin Harmash
3.15pm: Dubai Real estate Centre – Handicap (TB) Dh80,000 (D) 1,600m; Winner: Celtic Prince, Richard Mullen, Rashed Bouresly
3.45pm: Jebel Ali Sprint by ARM Holding – Listed (TB) Dh500,000 (D) 1,000m; Winner: Khuzaam, Pat Dobbs, Doug Watson
4.15pm: Shadwell – Conditions (TB) Dh100,000 (D) 1,600m; Winner: Tenbury Wells, Royston Ffrench, Salem bin Ghadayer
4.45pm: Jebel Ali Stakes by ARM Holding – Listed (TB) Dh500,000 (D) 1,950m; Winner: Lost Eden, Andrea Atzeni, Doug Watson
5.15pm: Jebel Ali Racecourse – Handicap (TB) Dh76,000 (D) 1,950m; Winner: Rougher, Pat Dobbs, Doug Watson
UAE currency: the story behind the money in your pockets
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Name: Hassan Mohsen Elhais
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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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Moon Music
Artist: Coldplay
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Bundesliga fixtures
Saturday, May 16 (kick-offs UAE time)
Borussia Dortmund v Schalke (4.30pm)
RB Leipzig v Freiburg (4.30pm)
Hoffenheim v Hertha Berlin (4.30pm)
Fortuna Dusseldorf v Paderborn (4.30pm)
Augsburg v Wolfsburg (4.30pm)
Eintracht Frankfurt v Borussia Monchengladbach (7.30pm)
Sunday, May 17
Cologne v Mainz (4.30pm),
Union Berlin v Bayern Munich (7pm)
Monday, May 18
Werder Bremen v Bayer Leverkusen (9.30pm)
Tips for newlyweds to better manage finances
All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.
Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.
Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.
Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.
Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.
Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.
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