ABU DHABI // A group of Filipino professionals are banding together to help their compatriots succeed in the job market.
“We are known to be hard-working, skilled and educated,” said Jethroefel Ramboyong, 40, a telecoms engineer in Abu Dhabi and chairman of the Filipino Professional Group.
“However, we need to be more assertive and become globally competitive.”
Formed in March 2009, the organisation has more than 2,000 members. It serves as an umbrella group of 11 professional organisations made up of nurses, architects, engineers and accountants.
“We want to build successful professionals in a competitive world,” Mr Ramboyong said. “We plan to approach consultants from Cobalt to teach us to be more competitive and how to be better individuals.”
Cobalt offers human resources consultancy, specialist search and recruitment services in Abu Dhabi and across the Middle East and North Africa.
It is a common misconception that most Filipinos in the UAE are maids, and the group wants to break away from this stereotype.
Sixty per cent of the UAE’s 700,000 Filipinos are professional workers, more than a quarter are in the skilled sector and only 10 per cent are household workers.
Since 2009, the Philippines' Professional Regulation Commission has conducted professional licensure board exams in the UAE, Qatar and Saudi Arabia.
The various professional organisations in the UAE help members to prepare for their board exams by organising review classes.
So far, 590 Filipinos in the Emirates have passed the exams for nurses, architects, certified public accountants and electrical, electronic, civil and mechanical engineers.
“After having passed their board exams, many of them got a promotion,” said Mr Ramboyong, the founder of the UAE branch of the Institute of Electronics Engineers of the Philippines, who has lived here for 15 years.
“We’re happy to have assisted them in their own career development.”
Vladimir Fugiracion, 30, an architect in Abu Dhabi, passed the architecture exams in Abu Dhabi in 2011.
“I’m proud to be a product of the licensure board exams here in the UAE,” he said. “After five and a half years in the construction industry, I will be joining mainstream architecture this year.”
Mr Fugiracion, who is also the vice president of the Abu Dhabi branch of United Architects of the Philippines, said their goal was to facilitate the board review classes of future architects.
“In 2012, we had a 66 per cent passing rate and, last year, it was 64 per cent,” he said.
Members of the Filipino Professional Group gathered at the Dusit Thani Hotel in Abu Dhabi on January 17 for “An Evening with the Filipino Professionals”.
“While there is a growing awareness of our own competence as Filipino nurses, architects, engineers and accountants, there is a need to discuss and plan initiatives to achieve global competence,” Mr Ramboyong said.
By next year, the 10 nations that make up the Association of South East Asian Nations are targeting an "Asean economic community", which has implications on labour mobility and the mutual recognition of professional standards.
rruiz@thenational.ae
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Retirement funds heavily invested in equities at a risky time
Pension funds in growing economies in Asia, Latin America and the Middle East have a sharply higher percentage of assets parked in stocks, just at a time when trade tensions threaten to derail markets.
Retirement money managers in 14 geographies now allocate 40 per cent of their assets to equities, an 8 percentage-point climb over the past five years, according to a Mercer survey released last week that canvassed government, corporate and mandatory pension funds with almost $5 trillion in assets under management. That compares with about 25 per cent for pension funds in Europe.
The escalating trade spat between the US and China has heightened fears that stocks are ripe for a downturn. With tensions mounting and outcomes driven more by politics than economics, the S&P 500 Index will be on course for a “full-scale bear market” without Federal Reserve interest-rate cuts, Citigroup’s global macro strategy team said earlier this week.
The increased allocation to equities by growth-market pension funds has come at the expense of fixed-income investments, which declined 11 percentage points over the five years, according to the survey.
Hong Kong funds have the highest exposure to equities at 66 per cent, although that’s been relatively stable over the period. Japan’s equity allocation jumped 13 percentage points while South Korea’s increased 8 percentage points.
The money managers are also directing a higher portion of their funds to assets outside of their home countries. On average, foreign stocks now account for 49 per cent of respondents’ equity investments, 4 percentage points higher than five years ago, while foreign fixed-income exposure climbed 7 percentage points to 23 per cent. Funds in Japan, South Korea, Malaysia and Taiwan are among those seeking greater diversification in stocks and fixed income.
• Bloomberg
Ziina users can donate to relief efforts in Beirut
Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”
A cryptocurrency primer for beginners
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There are several primers for investing in cryptocurrencies available online, including e-books written by people whose credentials fall apart on the second page of your preferred search engine.
Ms Danial is a finance coach and former currency analyst who writes for Nasdaq. Her broad-strokes primer (2019) breaks down investing in cryptocurrency into baby steps, while explaining the terms and technologies involved.
Although cryptocurrencies are a fast evolving world, this book offers a good insight into the game as well as providing some basic tips, strategies and warning signs.
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Who is Mohammed Al Halbousi?
The new speaker of Iraq’s parliament Mohammed Al Halbousi is the youngest person ever to serve in the role.
The 37-year-old was born in Al Garmah in Anbar and studied civil engineering in Baghdad before going into business. His development company Al Hadeed undertook reconstruction contracts rebuilding parts of Fallujah’s infrastructure.
He entered parliament in 2014 and served as a member of the human rights and finance committees until 2017. In August last year he was appointed governor of Anbar, a role in which he has struggled to secure funding to provide services in the war-damaged province and to secure the withdrawal of Shia militias. He relinquished the post when he was sworn in as a member of parliament on September 3.
He is a member of the Al Hal Sunni-based political party and the Sunni-led Coalition of Iraqi Forces, which is Iraq’s largest Sunni alliance with 37 seats from the May 12 election.
He maintains good relations with former Prime Minister Nouri Al Maliki’s State of Law Coaliton, Hadi Al Amiri’s Badr Organisation and Iranian officials.
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Saturday Benevento v Atalanta (2pm), Genoa v Bologna (5pm), AC Milan v Torino (7.45pm)
Sunday Roma v Inter Milan (3.30pm), Udinese v Napoli, Hellas Verona v Crotone, Parma v Lazio (2pm), Fiorentina v Cagliari (9pm), Juventus v Sassuolo (11.45pm)
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Director: Hasan Hadi
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Emergency
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