Based on the unchanged price range for the sale of its shares of Dh1.50 to Dh1.60, the revised IPO size is expected to rake range between Dh7 billion and Dh7.5 billion
markets1 hour ago
If a private firm fires an Emirati, its management will need to submit a report of an end-of-service interview with the employee concerned to the Ministry of Human Resources and Emiratisation (MoHRE). According to new regulations that were announced on Sunday, the report would have details about the reasons for the termination of employment.
The MoHRE took to Twitter to announce the ministerial decree that lays out "procedures and steps" for private sector companies to employ Emiratis. The decree states that the ministry will be "monitoring and following up" Emiratis after they land private sector jobs. The ministry has put in place a mechanism to receive any complaints they may have.
Private companies in the UAE will also need to register Emirati employees in the national pension scheme.
The decree stipulates the "terms and conditions" for terminating their employment. It also specifies a mechanism to deal with unlawful dismissals.
According to the decree, once an Emirati is hired, the company will need to submit the required documents to the MoHRE to issue him/her a work permit. Once approved, the ministry will issue an 'Emirati package', which includes a work permit, employment contract, Absher card, and a manual for his/her duties and rights in the private sector. A guidance and orientation service for the employee also will be made available.
Nasser bin Thani Juma Al Hamli, Minister of Human Resources and Emiratisation, said the decree is part of a set of policies, programmes and initiatives that aim to consolidate the national manpower in the private sector.
The decree has been designed to provide stable work environment to Emiratis, "which could boost their competitiveness and productivity".
Earlier this year, the ministry had announced a scheme that would open up 15,000 private sector jobs to Emiratis. The 'Tawteen Agenda' aims to have five per cent of all Emiratis working in the private sector.
reporters@khaleejtimes.com
Based on the unchanged price range for the sale of its shares of Dh1.50 to Dh1.60, the revised IPO size is expected to rake range between Dh7 billion and Dh7.5 billion
markets1 hour ago
'Little did I realise that fortune and fate had a big story for me,' says the Indian actor
entertainment1 hour ago
The film is set to hit the theatres on December 5
entertainment1 hour ago
Flick praised Lewandowski who scored twice to join Ronaldo and Messi as the only players to reach 100 goals in Champions League
football1 hour ago
The leader pardoned them on the condition of their good record and conduct
uae1 hour ago
The event, set to take place on November 30, aims to raise awareness about diabetes and promote a healthy, balanced lifestyle
kt network1 hour ago
By immersing its diverse workforce in the nation's rich heritage, Keolis MHI highlights its commitment to reinforcing national pride and contributing to the UAE's vibrant and inclusive community
kt network2 hours ago
The event brought together an array of art forms, blending tradition with innovation, to celebrate the cultural richness of India while fostering harmony among diverse communities.
kt network2 hours ago