Manila urged to do more to stop the flow of illegal job seekers



DUBAI // The Philippine government should do more to prevent job seekers from coming to the UAE on tourist visas, according to a Filipino labour official speaking ahead of Filipino Migrant Workers Day today. "If we cannot completely stop the practice, let's minimise it," said Amilbahar Amilasan, the Philippines government's new labour attaché covering Dubai and the Northern Emirates.

"We should have a working mechanism. The airport immigration officers in our country can distinguish a legitimate tourist from a job seeker." His comments come after Maher Hamad al Obad, the executive director for inspection at the UAE Ministry of Labour, estimated in an interview for a Migration Policy Institute report that 20 to 30 per cent of migrants enter with a visitor visa in hand, find an employer and change status while in the UAE or in a third country.

"Such easy access to visitor visas, however, makes it difficult for the Philippine government to maintain oversight and regulate migrant workers, many of whom are vulnerable," said the report's author, the analyst Dovelyn Rannveig Agunias. Mr Amilasan said workers should ensure they have the proper documents before heading to the UAE for work. "They should apply through a recruitment agency accredited with the Philippine Overseas Employment Administration," he said. "We've had cases of people arriving in the UAE only to find out that the jobs were non-existent."

Mr Amilasan said people who had fallen prey to illegal recruitment and human trafficking have been coming to him for help since he took over the job in March. "I haven't documented them yet but we've had many walk-ins who said they were offered hotel jobs but were forced into prostitution when they arrived in the country." Labour and welfare officials in Dubai manage a shelter in their office premises. Women who have fled their employer's home can stay there until their cases are resolved. The majority of their complaints concern unpaid salaries, long working hours, inadequate food and sleep, verbal abuse and other forms of mistreatment.

Mr Amilasan and Mary Simangan, the welfare officer, will be among the speakers at the first migrants' forum, which will be held at Al Nasr Leisureland in Dubai on June 18. The officials will discuss the rights of migrant workers and their working conditions, and the assistance provided by Philippine diplomats in Dubai. The forum is an initiative by the UAE branch of Migrante, an organisation created to protect Filipino workers overseas, in celebration of Migrant Workers Day in the UAE.

"Filipino migrants are helping keep our economy afloat, but their rights and welfare have often been neglected," said Nhel Morona, Migrante-UAE's secretary general. Nearly 600,000 Filipinos live and work in the Emirates, accounting for 12 per cent of the country's population, according to the Commission on Filipinos Overseas in Manila. @Email:rruiz@thenational.ae

Warlight,
Michael Ondaatje, Knopf 

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NO OTHER LAND

Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

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.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Company%20profile
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The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, Leon.

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

Like a Fading Shadow

Antonio Muñoz Molina

Translated from the Spanish by Camilo A. Ramirez

Tuskar Rock Press (pp. 310)

Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.