People in the UAE are among the most willing globally to retrain or reskill, with 76 per cent of residents viewing the post-Covid-19 slowdown as an opportunity to increase their earnings compared with a global average of 64 per cent, according to a survey by Standard Chartered.
The study of 12,000 adults across 12 markets – Hong Kong, Taiwan, China, Singapore, Indonesia, Malaysia, India, the UAE, Kenya, Pakistan, the UK and the US – also found that UAE residents are more willing to start a new business than their global counterparts.
Some 55 per cent of the UAE's residents aged between 18 and 44 (Generation Z and millennials) said they would respond to the Covid-19-induced crisis by starting a new business in the next six months compared with 35 per cent of those aged 45 and above. These data are higher than in the rest of the world, where the figures are 52 per cent and 30 per cent, respectively.
In the UAE, 76 per cent of 25 to 34 year-olds said they would set up a second income stream in response to the pandemic.
“It is encouraging to see that young people in the UAE are the most confident in their skills and are prepared to work hardest and smarter to realise opportunities in a post-Covid world,” said Sonny Zulu, head of retail banking at Standard Chartered UAE.
“Many are considering starting a new business in the wake of the pandemic but want to learn how to manage their finances better.”
Another survey conducted by market research firm YouGov in July this year found that one-third of people in the UAE expect their finances to improve in the 12 months after the gradual reopening of the economy in response to the Covid-19 pandemic. However, 23 per cent of respondents expect their finances to remain unchanged, while a quarter think they will get worse.
People’s levels of confidence, adaptability and entrepreneurialism tend to decrease with age, perhaps because older generations are more established in their careers, the study found.
It is encouraging to see that young people in the UAE are the most confident in their skills and are prepared to work hardest and smarter to realise opportunities in a post-Covid world
Some 77 per cent of 18 to 44 year-olds in the UAE said they would reskill themselves compared with 56 per cent of those aged 55 and over.
Young people in the UAE are also confident of their skills, with 87 per cent of those aged from 18 to 34 saying they have the digital skills needed to thrive in a post-Covid-19 world compared with 71 per cent of those over 65.
The divide is also evident when comparing developed and developing markets. Those in established global economies are not only less confident that they have the digital skills needed to thrive amidst the downturn but also less willing to adapt and take steps to increase their income.
More than 86 per cent of UAE residents said they would prefer to work more than reduce their hours for less pay. The UAE ranked behind Kenya, China, India and Pakistan (all over 88 per cent) in this category. The UK and the US had the highest proportion of people who valued free time over money (38 per cent and 33 per cent respectively).
Meanwhile, the study found that 80 per cent of UAE residents want to better manage their money to make it go further, ranking below Kenya (93 per cent), Indonesia (90 per cent), China (85 per cent), Malaysia (83 per cent) and India (82 per cent).
Survey respondents also expressed the need for more flexibility when it comes to working arrangements post-Covid-19. In the UAE, 67 per cent of people would prefer to continue working from home for at least two days a week once restrictions are lifted and 77 per cent want more flexible working arrangements. However, the UAE ranked second highest, just below India, for missing the atmosphere of working from the office.
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
The Book of Collateral Damage
Sinan Antoon
(Yale University Press)
Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
The Africa Institute 101
Housed on the same site as the original Africa Hall, which first hosted an Arab-African Symposium in 1976, the newly renovated building will be home to a think tank and postgraduate studies hub (it will offer master’s and PhD programmes). The centre will focus on both the historical and contemporary links between Africa and the Gulf, and will serve as a meeting place for conferences, symposia, lectures, film screenings, plays, musical performances and more. In fact, today it is hosting a symposium – 5-plus-1: Rethinking Abstraction that will look at the six decades of Frank Bowling’s career, as well as those of his contemporaries that invested social, cultural and personal meaning into abstraction.
Evacuations to France hit by controversy
- Over 500 Gazans have been evacuated to France since November 2023
- Evacuations were paused after a student already in France posted anti-Semitic content and was subsequently expelled to Qatar
- The Foreign Ministry launched a review to determine how authorities failed to detect the posts before her entry
- Artists and researchers fall under a programme called Pause that began in 2017
- It has benefited more than 700 people from 44 countries, including Syria, Turkey, Iran, and Sudan
- Since the start of the Gaza war, it has also included 45 Gazan beneficiaries
- Unlike students, they are allowed to bring their families to France
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Gifts exchanged
- King Charles - replica of President Eisenhower Sword
- Queen Camilla - Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
- Donald Trump - hand-bound leather book with Declaration of Independence
- Melania Trump - personalised Anya Hindmarch handbag
At Eternity’s Gate
Director: Julian Schnabel
Starring: Willem Dafoe, Oscar Isaacs, Mads Mikkelsen
Three stars
If you go
The flights
There are direct flights from Dubai to Sofia with FlyDubai (www.flydubai.com) and Wizz Air (www.wizzair.com), from Dh1,164 and Dh822 return including taxes, respectively.
The trip
Plovdiv is 150km from Sofia, with an hourly bus service taking around 2 hours and costing $16 (Dh58). The Rhodopes can be reached from Sofia in between 2-4hours.
The trip was organised by Bulguides (www.bulguides.com), which organises guided trips throughout Bulgaria. Guiding, accommodation, food and transfers from Plovdiv to the mountains and back costs around 170 USD for a four-day, three-night trip.
Score
Third Test, Day 1
New Zealand 229-7 (90 ov)
Pakistan
New Zealand won the toss and elected to bat
Emergency phone numbers in the UAE
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
'Skin'
Dir: Guy Nattiv
Starring: Jamie Bell, Danielle McDonald, Bill Camp, Vera Farmiga
Rating: 3.5/5 stars
The Kites
Romain Gary
Penguin Modern Classics
Q&A with Dash Berlin
Welcome back. What was it like to return to RAK and to play for fans out here again?
It’s an amazing feeling to be back in the passionate UAE again. Seeing the fans having a great time that is what it’s all about.
You're currently touring the globe as part of your Legends of the Feels Tour. How important is it to you to include the Middle East in the schedule?
The tour is doing really well and is extensive and intensive at the same time travelling all over the globe. My Middle Eastern fans are very dear to me, it’s good to be back.
You mix tracks that people know and love, but you also have a visually impressive set too (graphics etc). Is that the secret recipe to Dash Berlin's live gigs?
People enjoying the combination of the music and visuals are the key factor in the success of the Legends Of The Feel tour 2018.
Have you had some time to explore Ras al Khaimah too? If so, what have you been up to?
Coming fresh out of Las Vegas where I continue my 7th annual year DJ residency at Marquee, I decided it was a perfect moment to catch some sun rays and enjoy the warm hospitality of Bab Al Bahr.
match info
Union Berlin 0
Bayern Munich 1 (Lewandowski 40' pen, Pavard 80')
Man of the Match: Benjamin Pavard (Bayern Munich)
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Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
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