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UAE’s Major Shift on Working Week is Unprecedented Boost for Economy: deVere CEO

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The United Arab Emirates announced today that it will transition to a four and a half-day working week, with Friday afternoon, Saturday and Sunday forming the new weekend. 

The new working week will commence January 1, 2022, across the federation of seven emirates (Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah and Umm Al Quwain) that make up the UAE.

Currently the working week is Sunday to Thursday.

Of the major news, Nigel Green, the CEO and founder of Dubai-headquartered deVere Group, one of the world’s largest independent financial advisory, asset management and fintech organisations, says: “This is a major cultural, societal and economic shift that can be expected to provide a massive boost for the UAE economy.

“The UAE, and in particular Dubai and Abu Dhabi are already recognised as two of the most powerful business and financial hubs in the world by international investors who are lured by the incredible possibilities offered in terms of finance, trade and commerce, plus the famous ‘can do’ attitude and the low tax environment in these destinations.

“The transition to a four and a half day working week which now aligns with most major economies around the world will prove to be another significant ‘pull’ for international corporations that are currently based elsewhere.”

He continues: “We can expect there to be a steady influx of new wealth and job creating businesses relocating to the UAE on the back of this announcement.

“It provides a further compelling impetus for an already established commerce hub that has an independent judicial system, a global financial exchange, a stable, pro-business government, a high proposition of high net worth individuals, a dynamic business community, world-class infrastructure and telecommunications, English as its de-facto business language, and their enviable, central geographical location and time zone.”

The news follows the rollout of new legislation in which the UAE will allow 100% ownership of businesses for foreign nationals from December 1, 2020. Previously, all businesses were required to have a UAE citizen sponsor.

At the time of that announcement, Nigel Green said: “The appeal of the UAE has just sky-rocketed further due to the reform of the business ownership law.”

The deVere boss is a long-time advocate for the country where the Group has a major presence across several emirates and is headquartered.

Earlier this year, he said that over the next decade, the UAE will become one of the world’s top ten international financial hubs to rival and more aggressively compete with stalwarts such as London, New York and Hong Kong.

Mr Green concludes: “The working week announcement is a game-changer for the UAE, significantly ramping up its already impressive competitive advantage.”

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Kaduna Workers To Start Earning N72,000 Minimum Wage November, Bayelsa Gov Budgets N689.4bn For 2025

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Workers in the employment of the Kaduna State Government will start earning the sum of N72,000 as minimum wage from November, this year.

This came as Governor Uba Sani approved the new minimum wage of N72,00 and promised continued prioritisation of civil servants’ welfare.

Sani, in a statement released by his Chief Press Secretary, Ibraheem Musa on Thursday, the decision is in conformity with his lifelong commitment to promoting and protecting workers’ rights.

The governor also promised to improve the living conditions of the poor, vulnerable and underserved in Kaduna.

He also revealed his plan to launch a free transportation scheme for civil servants with the release of 100 CNG buses.

Sani said the free transportation scheme, which included the release of 100 CNG buses, is designed to alleviate the suffering of workers and enhance their productivity.

The governor noted that the buses would convey civil servants to and from work, providing relief from transportation costs while noting that a Joint Management Committee consisting of representatives of organized labour (NLC and TUC) and the State Government will be set up to manage the Free Transportation Scheme for civil servants.

In another development, the Bayelsa State Governor, Douye Diri, on Thursday presented a 2025 budget of N689.4 billion, titled the “Budget of Assures Prosperity,” to the State House of Assembly.

He pointed out his administration’s goals for enhanced socio-economic and infrastructure development.

Emphasising on building on the gains and lessons from his first term in office, Diri reiterated his government’s desire to advance the state’s socio-economic and infrastructural landscape.

He said his new mantra, the ‘ASSURED Agenda,’ which outlines seven strategic pillars to drive economic growth, social development, infrastructure improvement, environmental sustainability, cultural preservation, and good governance, would be funded through various streams, including an opening balance of N14.2 billion, statutory allocations of N17 billion, VAT estimated at N57 billion, and 13% derivation and refunds amounting to N138.8 billion.

In addition, the governor revealed that the state expects N29.1 billion from excess crude refunds, N103.1 billion from exchange gains, N39 billion from internally generated revenue, N39.4 billion in grants, and N141.4 billion from capital receipts, including electronic money transfers, signature bonuses, cash calls, and loans.

Diri detailed that personnel costs would take N108.34 billion, accounting for 13.3% of total spending, with N91.96 billion for salaries, N19.3 billion for pensions and gratuities, and N3.34 billion for CRFC transfers.

He noted that overheads would consume N79.66 billion, representing 11.55% of the budget, while the total recurrent expenditure stood at N263.38 billion, or 38.2%.

According to him, this category covers grants, contributions, subsidies (N9.15 billion), a 10% SUBEB contribution (N2.5 billion), rural development authorities (N4.5 billion), and public debt servicing (N52.95 billion).

Capital expenditure is set at N404.76 billion, with a planning reserve of N21.3 billion, bringing total capital allocation to N426.07 billion or 61.8% of the budget.

Providing a sector-by-sector breakdown, Diri revealed that N178.76 billion is earmarked for Works and Infrastructure, while Education will receive N35.85 billion. Other allocations include Urban and Housing Development (N13.68 billion), Energy and Power (N14.45 billion), Agriculture (N16.65 billion), Security (N19 billion), Healthcare (N19.19 billion), and Community Development (N10.2 billion).

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Jigawa Governor Announces ₦70,000 Minimum Wage Amid Mourning of Tanker Explosion Tragedy

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Days after a petrol tanker explosion claimed the lives of about 200 residents in Jigawa State, the state governor, Umar Namadi has announced a new minimum wage of ₦70,000 for civil servants in the state.

The latest development was made known during the submission of a report from the state’s minimum wage committee at the Government House in Dutse.

The committee said the report considered several critical factors, including the current inflation rates and the necessity to maintain a motivated and efficient workforce amidst economic uncertainties.

After reviewing the report, Governor Namadi announced the new minimum wage and also reaffirmed his administration’s commitment to improving the welfare of the state’s workforce.

“We are resolved to pay our workers ₦70,000 as the new minimum wage,” he stated during the announcement.

The governor explained that the increment aims to alleviate the financial challenges faced by civil servants and is reflective of the economic and fiscal capabilities of the state.

He assured workers of a swift implementation of the new wage.

This latest development comes days after a petrol tanker exploded in the state leaving about 200 people dead and many injured.

On Tuesday while briefing President Bola Tinubu on the incident at the State House, Abuja, Namadi disclosed that 181 people died and 210 families were affected in the tanker explosion.

The tanker, laden with petrol exploded at Majiya town, along the Kano-Hadejia expressway in Taura LGA of Jigawa state.

The governor told the president that 80 people were hospitalised due to the incident, adding that the state government has paid their bills.

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Akwa Ibom Governor Approves N80,000 Minimum Wage For Workers

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Governor Umo Eno of Akwa Ibom has validated a new minimum wage package of N80,000 for workers in the employment of the state government.

Eno has joined other states including Lagos, Edo, Rivers among others who had taken steps to pay their employees the new minimum wage.

Investors King had reported that the Federal Government and the Nigeria Labour Union had signed a Memorandum of Understanding for N70,000 as least amount to be earned by Nigerian workers, especially those employed by civil authorities.

Some other states including Osun, Oyo, Zamfara among others have not announced the amounts they would be paying their workers.

Making the approval of the N80,000 minimum wage known on Wednesday, Governor Eno also constituted an implementation committee for the smooth kick-off of the new wage regime with the Head of the Civil Service (HoCS), Elder Effiong Essien, as Chairman.

According to the governor, the committee has one month ultimatum to deliver its report on the wage increase harmonisation.

The Commissioner for Information of Akwa Ibom, Comrade Ini Ememobong, while addressing newsmen, listed other members of the committee to include the Chairman, Local Government Service Commission (LGSC) and Permanent Secretaries in the Ministries of Finance and Department of Establishments.

Others are the Permanent Secretary, Ministry of Labour and Manpower Planning; Permanent Secretary/Solicitor General, Ministry of Justice; Permanent Secretary/Accountant General; Permanent Secretary, Local Government Service Commission (LGSC); Permanent Secretary, Office of the Head of Civil Service; Director of Budget and the State Chairman, Joint Public Service Negotiating Council.

The list also has the Secretary, Joint Public Sector Negotiating Council; State Chairperson, Nigeria Labour Congress (NLC); State Chairman, Trade Union Congress (TUC) and the State President, Nigeria Union of Local Government Employees (NULGE) as members.

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