Hundreds of Emirati job seekers attended the opening day of a Ras Al Khaimah careers fair held in support of the UAE's private sector employment drive.
The first Ras Al Khaimah Jobs and Internships Festival helped to connect more than 850 hopefuls with dozens of private sector companies on Friday.
The event at the Hilton Garden Inn, which is being hosted by Sheikh Saud bin Saqr Al Qasimi Foundation for Policy Research, will conclude on Saturday.
More than 60 companies in sectors from tourism and banking to engineering, finance, media and real estate are on the lookout for candidates.
Mohammad Al Shamsi, chairman of the foundation, said the festival aimed to “empower hundreds of ambitious Emiratis”.
He said it served as a “bridge between global and local prospects and talented job seekers” in remarks made during the opening ceremony.
“Together, we forge the path for Ras Al Khaimah’s next generation of leaders,” he said.
Leading employers and organisations taking part include Ras Al Khaimah Tourism Development Authority (RAKTDA), RAKBank, RAK Hospitality Holding, RAK Gas, RAK Economic Zone, RAK International Airport, PwC Middle East, Deloitte, The Ritz-Carlton and Anantara Hotel.
“Our mission is to develop the emirate’s tourism sector and position Ras Al Khaimah as a destination of the future driven by sustainability and responsible tourism,” said Mira Zakharia, senior director of human resources at Ras Al Khaimah Tourism Development Authority.
“This also means supporting the development of talent and Emiratisation in the industry. This festival is a testament to Ras Al Khaimah's dedication to nurturing local talent and we are honoured to play a part in it.”
A series of workshops were held on the opening day, offering advice on crafting resumes, interview techniques, and avenues for career progression.
The Ministry of Human Resources and Emiratisation is leading a nationwide push to bolster local participation in the private sector, viewed as a big driver of the economy.
Companies must increase their Emirati workforce by 1 per cent every six months under the Emiratisation initiative.
Employers in the UAE with at least 50 members of staff are expected to meet a 4 per cent target by the end of the year.
The Emirati employment rate will increase to 6 per cent by the end of 2024, 8 per cent in 2025 and 10 per cent in 2026.
In July, the UAE announced that companies with 20 to 49 employees would be required to fill a quota for the first time, hiring at least one Emirati in 2024 and another by 2025.
More jobs on offer
Another major Emirati career fair will take place in Dubai next week.
The event, called Ru’ya, UAE Careers Redefined, will be held at Dubai World Trade Centre from Tuesday, September 19 to Thursday, September 21. It will feature a dedicated exhibition space for women, called Empower Her.
There will be workshops, discussion panels and mentoring sessions led by experts – from skilled professionals to chief executives – to help Emirati women climb up the career ladder.
The 22nd Ru'ya fair will also feature more than 100 organisations offering opportunities to job seekers in both the public and private sector.
Emiratisation in the UAE – in pictures
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Dhadak
Director: Shashank Khaitan
Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana
Stars: 3
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UAE currency: the story behind the money in your pockets
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
THE BIO
Age: 30
Favourite book: The Power of Habit
Favourite quote: "The world is full of good people, if you cannot find one, be one"
Favourite exercise: The snatch
Favourite colour: Blue
Specs
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UAE currency: the story behind the money in your pockets
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
PROFILE OF STARZPLAY
Date started: 2014
Founders: Maaz Sheikh, Danny Bates
Based: Dubai, UAE
Sector: Entertainment/Streaming Video On Demand
Number of employees: 125
Investors/Investment amount: $125 million. Major investors include Starz/Lionsgate, State Street, SEQ and Delta Partners
The specs: 2017 Ford F-150 Raptor
Price, base / as tested Dh220,000 / Dh320,000
Engine 3.5L V6
Transmission 10-speed automatic
Power 421hp @ 6,000rpm
Torque 678Nm @ 3,750rpm
Fuel economy, combined 14.1L / 100km
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UAE currency: the story behind the money in your pockets
BIGGEST CYBER SECURITY INCIDENTS IN RECENT TIMES
SolarWinds supply chain attack: Came to light in December 2020 but had taken root for several months, compromising major tech companies, governments and its entities
Microsoft Exchange server exploitation: March 2021; attackers used a vulnerability to steal emails
Kaseya attack: July 2021; ransomware hit perpetrated REvil, resulting in severe downtime for more than 1,000 companies
Log4j breach: December 2021; attackers exploited the Java-written code to inflitrate businesses and governments
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UAE currency: the story behind the money in your pockets
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
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.”
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Killing of Qassem Suleimani
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
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