Vacancies on offer include sales, marketing, management and customer service.
Vacancies on offer include sales, marketing, management and customer service.

Job seekers get instant interviews at career fair



DUBAI // Emiratis were given the chance yesterday to find employment through a novel system of on-the-spot interviews at a career fair.

A common practice running through the Careers UAE exhibition this year was the concept of matching the right candidate instantly to positions available.

The exhibition, which is in its 11th year, was inaugurated by Sheikh Maktoum bin Mohammed, Dubai's Deputy Ruler. The event, which is for Emiratis, will run until March 23 and has more than 130 exhibitors.

The National Human Resource Development and Employment Authority (Tanmia) partnered with eight private companies this year to provide more than 400 jobs.

Applicants were encouraged to approach any of the eight companies operating out of Tanmia's stand for the chance to be interviewed. "We approached companies that have jobs available for UAE nationals and are looking to hire them quickly," said Mr Ibrahim Sabeel, the external relations manager at Tanmia. "The companies can look at the applicants' CVs and do on-the-spot interviews. The company will in turn let the candidate know if they qualify or if they have any weaknesses."

Mr Sabeel said that the firms have vacancies to fill in sales, marketing, management and customer service.

"We expect job seekers to directly meet and explore placement opportunities, this way we expect the process to be more credible and easier for job seekers," he said.

Amira al Wali, 26, was one of the applicants scouting for a job offer yesterday at Dubai International Convention and Exhibition Centre. "I applied to a few of the companies," she said. "I'd really like a job that can offer me the chance to work in the morning. I would be open to any offers that come my way."

Another applicant, Zahra al Bulooshi, 35, said she was glad firms were giving nationals the chance to meet with them face to face.

Neill Claasen, group human resource manager for Paris Gallery, which is recruiting for 30 jobs, said: "We have got several vacancies at the moment in sales, administration and supervisory positions. All are available as soon as possible, so qualifying candidates can literally start working within a week."

Online career portal, ershaad, was also offering about 100 jobs. The company introduced the scheme last year and found it enhanced the communication and feedback process. "Job seekers can experience some disappointment if they leave their CVs but never get a call back, especially fresh graduates. What we do is interview them and according to their qualifications and suitability, we can set up an interview with the employer on the spot if they are participating," said Ammar Shehadeh, a business development manager at ershaad. "It worked very well last year and employers have been receptive. For people who match the job, we take them to employers here directly and let them know that we've found a suitable candidate."

Mohammad Ahmad, 31, has studied engineering technology with management in the UK, but said he was sceptical about whether companies will get in touch. "It is my first time to come here and pass around my CV," said Mr Ahmad. "I'm looking for a job in the Islamic banking sector or at a company in Abu Dhabi, but I wonder if some of them come here just to show their presence."

Younger applicants such as Noora al Hashmi, 19, are far more optimistic. Ms al Hashmi, who is in her second year of a Bachelor's in business at Dubai Women's College, has come to network. "I'd like to specialise in finance and banking, but I'm also here to network for future summer and part-time jobs," she said. "I believe the private sector has a lot of jobs that are now available to UAE nationals."

Job applicants were also given the opportunity to do psychometric tests. Maryam Alawi, 22, said she was surprised at the accuracy of the tests, which were carried out by First Select Training.

"It is very true to my personality," said Ms Alawi. "I graduated with a degree in business administration in 2010, but have yet to find a job so I plan to apply everywhere and hopefully I will find a job."

The Library: A Catalogue of Wonders
Stuart Kells, Counterpoint Press

DC League of Super-Pets

Director: Jared Stern

Starring: Dwayne Johnson, Kevin Hart, John Krasinski, Keanu Reeves, Olivia Wilde, Kate McKinnon, Jameela Jamil

Rating: 3/5

ETFs explained

Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.

ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.

There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.

COMPANY PROFILE

Name: Ejari
Based: Riyadh, Saudi Arabia
Founders: Yazeed Al Shamsi, Fahad Albedah, Mohammed Alkhelewy and Khalid Almunif
Sector: PropTech
Total funding: $1 million
Investors: Sanabil 500 Mena, Hambro Perks' Oryx Fund and angel investors
Number of employees: 8

THE HOLDOVERS

Director: Alexander Payne

Starring: Paul Giamatti, Da'Vine Joy Randolph, Dominic Sessa

Rating: 4.5/5

COMPANY PROFILE

Name: SmartCrowd
Started: 2018
Founder: Siddiq Farid and Musfique Ahmed
Based: Dubai
Sector: FinTech / PropTech
Initial investment: $650,000
Current number of staff: 35
Investment stage: Series A
Investors: Various institutional investors and notable angel investors (500 MENA, Shurooq, Mada, Seedstar, Tricap)

FIGHT CARD

Fights start from 6pm Friday, January 31

Catchweight 82kg
Piotr Kuberski (POL) v Ahmed Saeb (IRQ)

Women’s bantamweight
Cornelia Holm (SWE) v Corinne Laframboise (CAN)

Welterweight
Omar Hussein (JOR) v Vitalii Stoian (UKR)

Welterweight
Josh Togo (LEB) v Ali Dyusenov (UZB)

Flyweight
Isaac Pimentel (BRA) v Delfin Nawen (PHI)

Catchweight 80kg​​​​​​​
Seb Eubank (GBR) v Mohamed El Mokadem (EGY)

Lightweight
Mohammad Yahya (UAE) v Ramadan Noaman (EGY)

Lightweight
Alan Omer (GER) v Reydon Romero (PHI)

Welterweight
Ahmed Labban (LEB) v Juho Valamaa (FIN)

Featherweight
Elias Boudegzdame (ALG) v Austin Arnett (USA)

Super heavyweight
Roman Wehbe (LEB) v Maciej Sosnowski (POL)

Strait of Hormuz

Fujairah is a crucial hub for fuel storage and is just outside the Strait of Hormuz, a vital shipping route linking Middle East oil producers to markets in Asia, Europe, North America and beyond.

The strait is 33 km wide at its narrowest point, but the shipping lane is just three km wide in either direction. Almost a fifth of oil consumed across the world passes through the strait.

Iran has repeatedly threatened to close the strait, a move that would risk inviting geopolitical and economic turmoil.

Last month, Iran issued a new warning that it would block the strait, if it was prevented from using the waterway following a US decision to end exemptions from sanctions for major Iranian oil importers.

SQUADS

South Africa:
JP Duminy (capt), Hashim Amla, Farhaan Behardien, Quinton de Kock (wkt), AB de Villiers, Robbie Frylinck, Beuran Hendricks, David Miller, Mangaliso Mosehle (wkt), Dane Paterson, Aaron Phangiso, Andile Phehlukwayo, Dwaine Pretorius, Tabraiz Shamsi

Bangladesh
Shakib Al Hasan (capt), Imrul Kayes, Liton Das (wkt), Mahmudullah, Mehidy Hasan, Mohammad Saifuddin, Mominul Haque, Mushfiqur Rahim (wkt), Nasir Hossain, Rubel Hossain, Sabbir Rahman, Shafiul Islam, Soumya Sarkar, Taskin Ahmed

Fixtures
Oct 26: Bloemfontein
Oct 29: Potchefstroom

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.”

COMPANY PROFILE

Company name: Almouneer
Started: 2017
Founders: Dr Noha Khater and Rania Kadry
Based: Egypt
Number of staff: 120
Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
$3.6 million led by Global Ventures

COMPANY PROFILE:

Name: Envision
Started: 2017
Founders: Karthik Mahadevan and Karthik Kannan
Based: The Netherlands
Sector: Technology/Assistive Technology
Initial investment: $1.5 million
Current number of staff: 20
Investment stage: Seed
Investors: 4impact, ABN Amro, Impact Ventures and group of angels


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