Gulf Today, Staff Reporter
Private companies in the UAE will have flexibility to choose their working week, a UAE minister said, after the announcement of a new a working week of four and half days with a Saturday-Sunday weekend from the start of next year.
The move is a major shift aimed at improving competitiveness.
The UAE Minister of Human Resources and Emiratisation Dr. Abdulrahman Al Awar said private sector would have flexibility to choose weekend for their employees.
"Each company, depending on the sector they operate in and what suits and serves their business best, can choose the weekend they decide for their employee," Abdulrahman Al-Awar told Reuters.
The minister said weekend change would hopefully attract more capital to stock markets and talent to the UAE economy.
The UAE Central Bank will also change working hours to comply with new UAE weekend.
The minister said change in working hours will enhance integration of UAE banking sector with banking community globally.
The UAE has once again become the first nation in the world to introduce a national working week that is shorter than the global five-day week for public sector.
According to the law, the public sector employees in the UAE will work for 8 hours a day for four days a week.
On Fridays, employees will have privilege to work for four hours only.
That amounts to 36 hours. This makes the UAE first nation in the world to have shorter than the five-day week.
According to the report, CBUAE noted that the UAE banking system remains strong, with sufficient capitalisation and liquidity reserves, solid financial performance and high operating efficiency.
Upon arrival, His Highness Sheikh Mohamed Bin Zayed was received by Chinese President Xi Jinping and senior Chinese leaders.
The Large-Value Payment Systems (LVPS) Regulation and the Retail Payment Systems (RPS) Regulation aim to promote robust financial infrastructure, which is essential for financial stability and consumer protection. They also facilitate the UAE’s international competitiveness.
The ban follows an accident on Jan.10 in which nine traders died and 20 others were injured when a truck returning from a weekly market near Lira overturned. Police blamed speed and reckless driving for the crash.
"The first accident occurred in the early morning in Al Karama tunnel, when a bus crashed into a light vehicle causing ten minor injuries," he explained.
Police spokesman Moses Carter told the media the death toll was provisional and "may increase" because a number of people were in critical condition. He added that children were included among the dead.