Dubai to create pension plan for expats

The city of Dubai in the United Arab Emirates (UAE) will be embarking on a landmark plan to create a pension plan for foreign workers there to make the city "a more attractive place to do business and live."

A report posted on news site Emirates 24|7 on Sunday quoted Ali Ibrahim, deputy director general for planning and development of Dubai's Department of Economic Development (DED), who disclosed that the agency is now in touch with "relevant" departments for the project, which "will cover both public and private sector foreign employees."

"You can say the project is nearly ready," he said in an interview with Albayan newspaper. "Once we complete negotiations with other departments, we will seek government approval so the project can be launched by the end of the year."

Worst mistakes expats make in UAE

The United Arab Emirates (UAE) is the fourth top destination of Filipinos abroad.

According to the Commission on Filipinos Overseas (CFO), there were about 636,254 Filipinos in UAE as of 2010.

However, a report of the news site Emirates 24/7 on Tuesday said many expatriates in UAE commit "some mistakes, which are easily avoidable."

Some of the mistakes said to be committed by expats in UAE include:

UAE expats sixth richest worldwide but unprepared for retirement?

Residents of the United Arab Emirates (UAE) are considered as the sixth-richest in the world, based on the 2011 estimates by International Monetary Fund (IMF).

However, a poll of the news site Emirates24|7 noted that more than a third (34 per cent) of the respondents “believe they would have to work until they drop as their financial situation would not permit them to continue to live their current lifestyle if they were to stop working after retirement age.”

The IMF, an organization of 187 countries, said UAE’s per capita income at Dh178,351 (or $48,597).

Three Pinoys in UAE cited in Asian book of achievers

Three Filipinos who are making a name for themselves in the United Arab Emirates (UAE) were featured in a book highlighting the contribution of young Asian expatriates in the Arab country, the news site “Emirates 24/7” said on Wednesday.

Titled “Young Asian Achievers,” the 165-page coffee table book, authored by UAE-based journalist Meraj Rizvi, features “the success stories of 25 expatriates from eight Asian countries” who have made a mark in various fields like business, fashion, and journalism.

During the launch last December 12, Dubai Chamber of Commerce and Industry chairman Abdul Rahman Saif Al Ghurair said the featured achievers’ “growth is synonymous with the rise of the city which is today a global destination for business and commerce.”