As the world recovers from Covid-19 and its devastating effects, there are also lessons to be learnt and retained. One that is getting a great deal of attention is what the pandemic taught us about work. Norms were shattered. Remote work demonstrated its huge potential, but, suddenly deprived of it, so did the old collaborative environment of the office.
The principle tying all of these findings together is the importance of flexibility. This applies outside work, too. Forced to be at home, families were brought closer together, well-being was prioritised and life felt as stable as it could among such uncertainty. Many are understandably keen to keep these new arrangements in place.
The UAE’s economy is the perfect place to implement this flexibility. Since its establishment in 1971, the UAE has gained a reputation for welcoming the world and its creativity. This openness and dynamism is an economic necessity, as well as a cultural trait. From the hydrocarbons industry to the tourism sector, the Emirates will always draw on the contribution of many people with many different talents to realise its vast economic potential.
How the government goes about this is an ever-developing process, one that has seen particular revision in recent years. New visa rules that came into force on Monday demonstrate once again that the UAE is still gearing up to welcome more foreign workers and, crucially, for longer.
Immigration law has been going through a wider shake up in the past few years. In 2020, golden visas were introduced, designed to enable exceptionally skilled foreigners to live, work and study in the UAE without the need for a national sponsor. It also gives recipients the right to 100 per cent ownership of businesses on the UAE’s mainland. They are valid for 10 years, and are given to people whom the authorities deem of particular significance. A recent example includes healthcare workers who served during the pandemic.
In June, new labour laws allowed workers to remain in the country for a longer period of time after their employment is terminated. Now, former employees will have up to 180 days to find a job before they overstay their visa.
Monday's news is as significant. Green visas are now available for skilled workers, defined as people who earn more than Dh15,000 a month and who have a bachelor’s degree or equivalent education. The biggest plus is a five-year residency, which will allow for more flexible working, particularly for freelancers, and create more investment in the UAE's economy. More certainty makes buying property, for example, more attractive.
The new visa recognises that there is more to sustaining a vibrant expatriate workforce than just working conditions. It also gives holders the right to bring first-degree relatives into the country for the entirety of their stay. Emily Roberts, principal consultant at Dubai recruiter Genie, told The National that: “A key benefit of the green visa is the advantage for families as there will be the extension for male dependents to be sponsored up to the age of 25 as previously it was restricted to the age of 18.”
As the UAE reopens apace after the pandemic, new employment laws are being drawn up to support the trend and make it happen as efficiently as possible. If programmes such as the golden visa work to attract a smaller, more targeted group of people in line with what the government deems as crucial sectors, the new green visa is more about letting the process of migration and a vibrant economy take its course, which has worked so well for the country throughout its history, and not losing sight of the importance of well-being in the process.
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
Company%20Profile
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The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
About RuPay
A homegrown card payment scheme launched by the National Payments Corporation of India and backed by the Reserve Bank of India, the country’s central bank
RuPay process payments between banks and merchants for purchases made with credit or debit cards
It has grown rapidly in India and competes with global payment network firms like MasterCard and Visa.
In India, it can be used at ATMs, for online payments and variations of the card can be used to pay for bus, metro charges, road toll payments
The name blends two words rupee and payment
Some advantages of the network include lower processing fees and transaction costs
England ODI squad
Eoin Morgan (captain), Moeen Ali, Jonny Bairstow, Jake Ball, Sam Billings, Jos Buttler, Tom Curran, Alex Hales, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, David Willey, Chris Woakes, Mark Wood.
INDIA V SOUTH AFRICA
First Test: October 2-6, at Visakhapatnam
Second Test: October 10-14, at Maharashtra
Third Test: October 19-23, at Ranchi
The%20specs
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Killing of Qassem Suleimani
Most sought after workplace benefits in the UAE
- Flexible work arrangements
- Pension support
- Mental well-being assistance
- Insurance coverage for optical, dental, alternative medicine, cancer screening
- Financial well-being incentives
Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
How The Debt Panel's advice helped readers in 2019
December 11: 'My husband died, so what happens to the Dh240,000 he owes in the UAE?'
JL, a housewife from India, wrote to us about her husband, who died earlier this month. He left behind an outstanding loan of Dh240,000 and she was hoping to pay it off with an insurance policy he had taken out. She also wanted to recover some of her husband’s end-of-service liabilities to help support her and her son.
“I have no words to thank you for helping me out,” she wrote to The Debt Panel after receiving the panellists' comments. “The advice has given me an idea of the present status of the loan and how to take it up further. I will draft a letter and send it to the email ID on the bank’s website along with the death certificate. I hope and pray to find a way out of this.”
November 26: ‘I owe Dh100,000 because my employer has not paid me for a year’
SL, a financial services employee from India, left the UAE in June after quitting his job because his employer had not paid him since November 2018. He owes Dh103,800 on four debts and was told by the panellists he may be able to use the insolvency law to solve his issue.
SL thanked the panellists for their efforts. "Indeed, I have some clarity on the consequence of the case and the next steps to take regarding my situation," he says. "Hopefully, I will be able to provide a positive testimony soon."
October 15: 'I lost my job and left the UAE owing Dh71,000. Can I return?'
MS, an energy sector employee from South Africa, left the UAE in August after losing his Dh12,000 job. He was struggling to meet the repayments while securing a new position in the UAE and feared he would be detained if he returned. He has now secured a new job and will return to the Emirates this month.
“The insolvency law is indeed a relief to hear,” he says. "I will not apply for insolvency at this stage. I have been able to pay something towards my loan and credit card. As it stands, I only have a one-month deficit, which I will be able to recover by the end of December."
THE SPECS
Engine: 1.5-litre turbocharged four-cylinder
Transmission: Constant Variable (CVT)
Power: 141bhp
Torque: 250Nm
Price: Dh64,500
On sale: Now
Types of fraud
Phishing: Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.
Smishing: The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.
Vishing: The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.
SIM swap: Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.
Identity theft: Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.
Prize scams: Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.
* Nada El Sawy
