The United Arab Emirates or UAE is presently having problems with careers, banking, and finance. It also has problems with regard to national concerns such as inflation, regional political instability, and high fuel prices. On a lighter note, it is growing stronger in terms of Gulf gains.
In Dubai, Ammar Shams, HSBC Group's Regional Head of Corporate Sustainability, said that it is impossible for the private sector to compete with the public sector when it comes to hiring fresh Emirati graduates because the public sector offers higher salaries. He pointed out that fresh graduates who work in the private sector do not get paid as much as those who work in the public sector. Although they are trained well, they still cannot earn Dh25,000 to Dh30,000 per month.
However, Hanan Al Fardan, a speaker from the Higher Education Department of the Knowledge and Human Development Authority begged to differ. She said that the Dh25,000 to Dh30,000 salary is not applicable to all fresh graduates, and that there are new employees in the public sector who receive lower salaries. Nonetheless, Shams suggested that all fresh graduates be given reasonable amounts whether they are in the public or private sector.
When it comes to Banking and Finance, many of the major banks in the country still refuse to lend money. The economical crisis has forced them to make record provisions for bad loans. So, their profits were hurt and they are now having a hard time in lending. Two of the major lenders in Abu Dhabi, Abu Dhabi Islamic Bank (ADIB) and Abu Dhabi Commercial Bank (ADCB), are actually not showing any sign of healthy financial growth.
Even though there are bright prospects for loan growth in Qatar and other countries, the United Arab Emirates still chose to stay conservative. This is partly due to the new regulations of the central bank that restrict certain lending practices. Moreover, local banks are exposed to indebted government entities and battered real estate investments.
Aramex, on the other hand, has good news to share. This global logistics and transportation solutions provided announced that its net profit soared by five percent. From Dh47.5 million, it rose to Dh49.8 million during the first quarter. The company concluded that this may be the result of the significant increase of revenues from Gulf operations. Last year's Dh530 million even became Dh595 million this year.
In addition, Aramex, despite having to deal with rapidly changing conditions in the MENA markets of Egypt and Bahrain, was still able to rise and make it through. Its positive outlook, professionalism, and willingness to adapt to fluctuating market conditions have made it successful. It also got inspired by its Gulf gains.
In addition, aside from being a noteworthy competitor of business giants such as DHL and FedEx, it is also continuing to expand all over the world. Right now, it keeps on growing strong in European markets as it obtains more acquisitions in Central Asia and East Africa. It also aims to increase its revenues and improve its overall performance by acquiring companies in Southeast Asia and Africa.
In Dubai, Ammar Shams, HSBC Group's Regional Head of Corporate Sustainability, said that it is impossible for the private sector to compete with the public sector when it comes to hiring fresh Emirati graduates because the public sector offers higher salaries. He pointed out that fresh graduates who work in the private sector do not get paid as much as those who work in the public sector. Although they are trained well, they still cannot earn Dh25,000 to Dh30,000 per month.
However, Hanan Al Fardan, a speaker from the Higher Education Department of the Knowledge and Human Development Authority begged to differ. She said that the Dh25,000 to Dh30,000 salary is not applicable to all fresh graduates, and that there are new employees in the public sector who receive lower salaries. Nonetheless, Shams suggested that all fresh graduates be given reasonable amounts whether they are in the public or private sector.
When it comes to Banking and Finance, many of the major banks in the country still refuse to lend money. The economical crisis has forced them to make record provisions for bad loans. So, their profits were hurt and they are now having a hard time in lending. Two of the major lenders in Abu Dhabi, Abu Dhabi Islamic Bank (ADIB) and Abu Dhabi Commercial Bank (ADCB), are actually not showing any sign of healthy financial growth.
Even though there are bright prospects for loan growth in Qatar and other countries, the United Arab Emirates still chose to stay conservative. This is partly due to the new regulations of the central bank that restrict certain lending practices. Moreover, local banks are exposed to indebted government entities and battered real estate investments.
Aramex, on the other hand, has good news to share. This global logistics and transportation solutions provided announced that its net profit soared by five percent. From Dh47.5 million, it rose to Dh49.8 million during the first quarter. The company concluded that this may be the result of the significant increase of revenues from Gulf operations. Last year's Dh530 million even became Dh595 million this year.
In addition, Aramex, despite having to deal with rapidly changing conditions in the MENA markets of Egypt and Bahrain, was still able to rise and make it through. Its positive outlook, professionalism, and willingness to adapt to fluctuating market conditions have made it successful. It also got inspired by its Gulf gains.
In addition, aside from being a noteworthy competitor of business giants such as DHL and FedEx, it is also continuing to expand all over the world. Right now, it keeps on growing strong in European markets as it obtains more acquisitions in Central Asia and East Africa. It also aims to increase its revenues and improve its overall performance by acquiring companies in Southeast Asia and Africa.
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