Blessed month of Ramadan likely to fall on May 6 in UAE

Dubai: There aren’t that many job vacancies right now – but be prepared for a 15-20 per cent cut in salary expectations even for those positions that are still open. Businesses in the UAE are definitely not in a generous mood when it comes to hiring, with salary cuts now part of the new normal.

And they are definitely not willing to take on new hires without extracting some cost benefit from them. “We have seen major [salary] cuts across the board in hospitality, real estate, professional services and in retail,” said Vijay Gandhi, regional head at Korn Ferry Digital, the recruitment consultancy.

“And once the headcount correction is complete in [the local] financial services and energy sector, we may see more cuts in rewards and benefits in these categories as well.”

The salary cuts are slowly extending their way into the healthcare sector as well – just about every non-COVID-19 facing medical category is coming across cuts in the number of working hours and, by extension, their take home packages.

By end of June, more businesses and sectors in the UAE will have a better understanding of their short-term revenue prospects. By then, they will also have a better reading on what their staff strength should be – and whether there should be more trimming of the workforce. Or whether they should consider a few hires as well.

A long summer
So, realistically, it could be September before such decisions need to be taken. The coming weeks will then prove to be laden with anxiety for those who are expecting to land a job option after being laid off at their current employers.

There are multiple instances of recruitment decisions having been made in February/March, and then the companies rescinding those offers to the chosen candidates citing the business uncertainty.

“The decision to hire is taking longer – so job creation is now 4-6 weeks from interview and selection compared to 4-6 days in the past,” said Gandhi.

The lucky ones
Recently, free zones and other entities had made it easier for personnel on the visa of one entity being able to smoothly transfer to another if they are likely to be made redundant. “We are seeing more flexibility being offered by the authorities given the circumstances, and the visa transfer process is happening,” said Gandhi.

“But in the vast majority of cases, businesses are going to wait and watch before normal hiring activity starts. Organizations will look to hire from September.”

A few hires are still happening
Even in the business turmoil set off by COVID-19, a few categories are still offering jobs. At the entry level, logistics services personnel and drivers with experience remain in demand.

Not just “routine jobs, there have been confirmations in more technical roles such as procurement and operations in healthcare and e-commerce,” said Gandhi. “Employers should keep an eye for good talent and have the talent acquisition team actively looking for good profiles.

“As such, organizations are not only looking at “right sizing” in numbers but also “future proofing” on what kind of skilled talent will help them in the post-COVID-19 world.”

But for the candidates, the present will be about waiting around for the call to come.

Riyadh, Jul 20: Saudi Arabia's King Salman has been admitted to a hospital in the capital, Riyadh, for medical tests due to inflammation of the gallbladder, the kingdom's Royal Court said Monday in a statement carried by the official Saudi Press Agency.

The statement said the 84-year-old monarch is being tested at the King Faisal Specialist Hospital. The brief statement did not provide further details.

King Salman has been in power since January 2015. He is considered the last Saudi monarch of his generation of brothers who have held power since the death of their father and founder of Saudi Arabia, King Abdulaziz.

King Salman has empowered his 34-year-old son, Crown Prince Mohammed bin Salman, as his successor. The crown prince's assertive and bold style of leadership, as well as his consolidation of power and sidelining of potential rivals, has been controversial.

With the support of his father, Prince Mohammed has transformed the kingdom in recent years, opening it up to tourists and eroding decades of ultraconservative restrictions on entertainment and women's rights as he tries to diversify the Saudi economy away from reliance on oil exports.

The prince has also detained dozens of activists and critics, overseen a devastating war in Yemen, and rounded up top members of the royal family in his quest for power.

The Saudi king has not been seen in public in recent months due to social distancing guidelines and concerns over the spread of the coronavirus inside the kingdom, which has one of the largest outbreaks in the Middle East.

He has been shown, however, in state-run media images attending virtual meetings with his Cabinet and held calls with world leaders.

King Salman, who oversees Islam's holiest sites in Makkah and Medinah, was a crown prince under King Abdullah and served as defense minister. For more than 50 years prior to that, he was governor of Riyadh, overseeing its evolution from a barren city to a teeming capital.

Dubai, Jun 29: Saeed bin Ahmed Al Lootah, a pioneering Emirati businessman and the founder of the world's first Islamic bank, is no more. He breathed his last on June 28.

Born in 1923, Saeed was instrumental in setting up the Dubai Islamic Bank (DIB) in 1975 to provide the community with a Sharia-compliant alternative to conventional banking.

He established several companies, organisations and societies, including the Dubai Consumer Cooperative. He also established the Islamic Education School in 1983 and the Dubai Medical College for Girls in 1986.

In 1992, Haj Saeed established the first College of Pharmacology in Dubai. Later he launched the Dubai Centre for Environmental Research, the Dubai Specialised Medical Centre, and the Medical Research Labs for health control and research into medicinal herbs and Islamic (Nabawi) medicine. He also set up an orphanage.

Saeed bin Ahmed Al Lootah was a self-made businessman who progressed from being a seafarer and trader to an accomplished tutor, author, economist, banker, entrepreneur, businessman and visionary community leader.

According to details available on the S.S. Lootah Group website, his "fervent adherence to the core values of education, cooperation and economy" helped empower "people to excel at everything they do".

"He realised the need to build permanent houses and ventured into construction. His 'capital' at that time were his skills, knowledge and hard work," the website said.

He laid the foundation of S.S.Lootah Contracting Company as a joint venture with his brother Sultan in 1956. "With the enduring values of education, cooperation and economy set as the foundations of his work, Haj Saeed started a number of businesses as well as not-for-profit education and research ventures, with an aim to serve the people of the UAE.

"Thanks to his vision and leadership, our home grown ventures continue to demonstrate unique values that extend well beyond its functional benefits - creating greater economic, social and environmental benefits for people in UAE and beyond."

Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, took to Twitter on Sunday to offer his respects.

Sheikh Mohammed said: "He was a trader who started with nothing. His touch is visible in several aspects of the Dubai economy."

Calling the deceased a "wise and smart man", Sheikh Mohammed said: "May Allah bless his soul and grant his family the strength to endure and persevere."

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, also paid his respects. "He combined economic leadership with charitable work. He launched charitable educational institutions and sponsored many orphans. His memory will live on. May Allah have mercy on him and grant his family patience."

حط رحاله عند ربه اليوم الحاج سعيد أحمد آل لوتاه.. أنشأ أول بنك إسلامي في العالم، وكان تاجراً عصامياً له بصماته في اقتصاد دبي..له يد طولى في الخير.. وهو أب للكثير من الأيتام .. عرفت فيه عقلاً راجحاً وحكمة وسكينة.. رحمك الله.. وتقبل عملك .. وألهم أهلك الصبر والسلوان .. pic.twitter.com/SOKzXl9meq

— HH Sheikh Mohammed (@HHShkMohd) June 28, 2020