Oracle, one of the world’s largest tech companies, plans to increase its headcount in Dubai by more than 40 per cent, as Mena companies increasingly switch to the cloud.
The company currently has 280 employees and wants a total of 400 workers, mostly technical and salespeople, by the end of its financial year in June.
The Mena region has been lagging the globe in its take-up of cloud technology, but Oracle said that it registered the highest global growth in the region with revenues jumping nearly 100 per cent compared with 2015.
“We are signing up 250 new customers every quarter in the Mena region,” said Giovanna Sangiorgi, the regional vice president at Oracle Digital.
She said the company is targeting mid-market corporates in the region with revenues up to US$350 million per year.
“We are looking to hire digital natives, millennials, that are comfortable working in the digital space. Finding people with digital skills is not difficult, but finding people with cloud skills is a lot harder,” Ms Sangiorgi said.
Oracle also expects to open a data centre in Abu Dhabi in the third quarter to support the region’s switch to cloud computing and cloud-based applications.
It expects the region’s governments, public bodies and large corporate entities to make the switch to cloud computing in 2017 having already signed up Dubai Airports, the Landmark Group and Apparel Group.
The UAE’s cloud computing sector is becoming an increasingly competitive field as Amazon Web Services, a subsidiary of online retail giant Amazon, recently announced it will be opening offices in Dubai and Bahrain this year to accelerate the adoption of cloud computing in the region.
ascott@thenational.ae
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
On Instagram: @WithHopeUAE
Although social media can be harmful to our mental health, paradoxically, one of the antidotes comes with the many social-media accounts devoted to normalising mental-health struggles. With Hope UAE is one of them.
The group, which has about 3,600 followers, was started three years ago by five Emirati women to address the stigma surrounding the subject. Via Instagram, the group recently began featuring personal accounts by Emiratis. The posts are written under the hashtag #mymindmatters, along with a black-and-white photo of the subject holding the group’s signature red balloon.
“Depression is ugly,” says one of the users, Amani. “It paints everything around me and everything in me.”
Saaed, meanwhile, faces the daunting task of caring for four family members with psychological disorders. “I’ve had no support and no resources here to help me,” he says. “It has been, and still is, a one-man battle against the demons of fractured minds.”
In addition to With Hope UAE’s frank social-media presence, the group holds talks and workshops in Dubai. “Change takes time,” Reem Al Ali, vice chairman and a founding member of With Hope UAE, told The National earlier this year. “It won’t happen overnight, and it will take persistent and passionate people to bring about this change.”
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Top investing tips for UAE residents in 2021
Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.
Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.
Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.
Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.
Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.
Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.
Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”
Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI.
