Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, on Monday announced an end-of-service benefits systems for employees in the private sector and free zones.
Sheikh Mohammed, who led a meeting of the UAE Cabinet, said the voluntary initiative would include the establishment of savings and investment funds from the private sector, which will be overseen by the Securities and Commodities Authority in partnership with the Ministry of Human Resources and Emiratisation.
He said the aim of the scheme was to protect workers' savings and ensure they were invested safely.
“During today's Cabinet session, we approved an alternative end-of-service benefits system for private sector employees and free zone workers in the country,” Sheikh Mohammed wrote on X, formerly Twitter.
“This system will be optional for employers to join and will involve the establishment of savings and investment funds from the private sector, overseen by the Securities and Commodities Authority in co-ordination with the Ministry of Human Resources and Emiratisation.
“Through this system, employees can save and invest their end-of-service benefits in various investment options.
“The goal is to safeguard the savings of employees, which represent their end-of-service benefits in the companies they work for, ensuring their rights and providing stability for their families.”
Sheikh Mohammed said public sector workers will also able to participate in the end-of-service system, for the purposes of savings and investments.
No timeline was publicly set out on Monday.
The scheme is made up of three investment options, the UAE Government Media Office later said.
These are: Risk-free investment that maintains capital; risk-based investment where the risk varies between low, medium and high; and the sharia-compliant investment.
Companies taking part are asked to pay a monthly contribution under the scheme.
On the end of service, employees will receive the savings they have accrued and the returns made their participation in investment funds.
Al Neyadi a role model for millions
Sheikh Mohammed also set out the UAE's vision for the space sector during the Cabinet session, held at Al Watan Palace in Abu Dhabi.
He said the Emirates intended to send more astronauts to the International Space Station, following the conclusion of Sultan Al Neyadi's historic six-month mission.
Sheikh Mohammed hailed Dr Al Neyadi – who along with crewmates splashed down off the coast of Florida on Monday morning – as a role model for millions of young people across the region.
“We affirmed the UAE's continued commitment to its ambitious strategy in the field of space technology,” he said on social media.
“We also reiterated our commitment to training and sending more astronauts to the International Space Station and we welcomed the return of Sultan Al Neyadi after a long mission at the International Space Station.
“This mission was supported and organised by the Mohammed bin Rashid Space Centre, which oversees a comprehensive programme for Emirati astronauts and future space missions.
“Sultan Al Neyadi serves as a role model and inspiration to millions of young people in the UAE and our Arab region, encouraging them to aim for the highest global achievements in the field of space.
“With the grace of God, our scientific advancements in space will continue to grow and improve.”
Road safety drive
The Cabinet also approved a federal law putting a cap on the weight of heavy vehicles allowed on the country's roads. The law will be brought into force early next year.
Sheikh Mohammed said the plan would bar vehicles exceeding 65 tonnes from the roads, “in order to preserve our advanced infrastructure and enhance safety on our roads”.
The Cabinet agreed to establish a national utilities regulatory body.
Sheikh Mohammed said the Federal Regulator for Water and Electricity Sector would monitor the trade of electricity and water across the Emirates and its borders.
“This entity will also oversee the production, transmission, and distribution of electricity and water within the country,” Sheikh Mohammed said.
“The new regulator will operate under the umbrella of the Ministry of Energy and Infrastructure.”
Rewarding government staff
Ministers gave approval to a new rewards scheme for federal government employees.
Under the plan, employees will be recognised for outstanding annual performances, exceptional accomplishments at the organisational level, and for achievements that make a positive contribution to the country.
The Cabinet also issued 11 new federal laws during the meeting, covering key areas including space regulation, human genome use, fertility assistance and media regulation.
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
One in nine do not have enough to eat
Created in 1961, the World Food Programme is pledged to fight hunger worldwide as well as providing emergency food assistance in a crisis.
One of the organisation’s goals is the Zero Hunger Pledge, adopted by the international community in 2015 as one of the 17 Sustainable Goals for Sustainable Development, to end world hunger by 2030.
The WFP, a branch of the United Nations, is funded by voluntary donations from governments, businesses and private donations.
Almost two thirds of its operations currently take place in conflict zones, where it is calculated that people are more than three times likely to suffer from malnutrition than in peaceful countries.
It is currently estimated that one in nine people globally do not have enough to eat.
On any one day, the WFP estimates that it has 5,000 lorries, 20 ships and 70 aircraft on the move.
Outside emergencies, the WFP provides school meals to up to 25 million children in 63 countries, while working with communities to improve nutrition. Where possible, it buys supplies from developing countries to cut down transport cost and boost local economies.
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
Non-oil%20trade
%3Cp%3ENon-oil%20trade%20between%20the%20UAE%20and%20Japan%20grew%20by%2034%20per%20cent%20over%20the%20past%20two%20years%2C%20according%20to%20data%20from%20the%20Federal%20Competitiveness%20and%20Statistics%20Centre.%C2%A0%3C%2Fp%3E%0A%3Cp%3EIn%2010%20years%2C%20it%20has%20reached%20a%20total%20of%20Dh524.4%20billion.%C2%A0%3C%2Fp%3E%0A%3Cp%3ECars%20topped%20the%20list%20of%20the%20top%20five%20commodities%20re-exported%20to%20Japan%20in%202022%2C%20with%20a%20value%20of%20Dh1.3%20billion.%C2%A0%3C%2Fp%3E%0A%3Cp%3EJewellery%20and%20ornaments%20amounted%20to%20Dh150%20million%20while%20precious%20metal%20scraps%20amounted%20to%20Dh105%20million.%C2%A0%3C%2Fp%3E%0A%3Cp%3ERaw%20aluminium%20was%20ranked%20first%20among%20the%20top%20five%20commodities%20exported%20to%20Japan.%C2%A0%3C%2Fp%3E%0A%3Cp%3ETop%20of%20the%20list%20of%20commodities%20imported%20from%20Japan%20in%202022%20was%20cars%2C%20with%20a%20value%20of%20Dh20.08%20billion.%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
Global state-owned investor ranking by size
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Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
AWARDS
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Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
The bio
Studied up to grade 12 in Vatanappally, a village in India’s southern Thrissur district
Was a middle distance state athletics champion in school
Enjoys driving to Fujairah and Ras Al Khaimah with family
His dream is to continue working as a social worker and help people
Has seven diaries in which he has jotted down notes about his work and money he earned
Keeps the diaries in his car to remember his journey in the Emirates
MATCH INFO
Uefa Champions League final:
Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports
GULF MEN'S LEAGUE
Pool A Dubai Hurricanes, Bahrain, Dubai Exiles, Dubai Tigers 2
Pool B Abu Dhabi Harlequins, Jebel Ali Dragons, Dubai Knights Eagles, Dubai Tigers
Opening fixtures
Thursday, December 5
6.40pm, Pitch 8, Abu Dhabi Harlequins v Dubai Knights Eagles
7pm, Pitch 2, Jebel Ali Dragons v Dubai Tigers
7pm, Pitch 4, Dubai Hurricanes v Dubai Exiles
7pm, Pitch 5, Bahrain v Dubai Eagles 2
Recent winners
2018 Dubai Hurricanes
2017 Dubai Exiles
2016 Abu Dhabi Harlequins
2015 Abu Dhabi Harlequins
2014 Abu Dhabi Harlequins
UAE currency: the story behind the money in your pockets
Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
Walls
Louis Tomlinson
3 out of 5 stars
(Syco Music/Arista Records)
The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now
Why the Tourist Club?
Originally, The Club (which many people chose to call the “British Club”) was the only place where one could use the beach with changing rooms and a shower, and get refreshments.
In the early 1970s, the Government of Abu Dhabi wanted to give more people a place to get together on the beach, with some facilities for children. The place chosen was where the annual boat race was held, which Sheikh Zayed always attended and which brought crowds of locals and expatriates to the stretch of beach to the left of Le Méridien and the Marina.
It started with a round two-storey building, erected in about two weeks by Orient Contracting for Sheikh Zayed to use at one these races. Soon many facilities were planned and built, and members were invited to join.
Why it was called “Nadi Al Siyahi” is beyond me. But it is likely that one wanted to convey the idea that this was open to all comers. Because there was no danger of encountering alcohol on the premises, unlike at The Club, it was a place in particular for the many Arab expatriate civil servants to join. Initially the fees were very low and membership was offered free to many people, too.
Eventually there was a skating rink, bowling and many other amusements.
Frauke Heard-Bey is a historian and has lived in Abu Dhabi since 1968.
