National Experts Programme begins receiving applications
The consumer sentiment index fell to 100.7 in March from 101.9 in February, posting the biggest monthly drop since October
National Experts on Tuesday announced that it has begun receiving applications for the fourth edition of the National Experts Programme (NEP).
The application window will remain open until April 30th, 2024.
Established in 2019, NEP serves as a launchpad for Emirati technical experts who are poised to play a transformative role in future growth sectors aligned with the UAE’S national priorities.
The fourth edition will focus on enhancing the skills and knowledge of 20 technical experts across three key clusters: Economic Growth, Social Development, and Sustainability and Infrastructure, with one applicant chosen to represent each of the sectors that are central to achieving the UAE’S strategic objectives.
Applicants to the fourth cohort must have at least 10 years of experience, including 5 years in their sector, and have contributed to strategic projects addressing national priorities. To enhance the current method of gathering and managing information, this year’s edition will incorporate artificial intelligence (AI) into the application process to provide a more engaging and effective selection process. This will include a skills and personality analysis, an AI interview, and an overall Ai-driven reporting system to streamline and enrich the participant selection process.
Set to introduce five new sectors in its fourth edition, participants in the upcoming programme will represent the fields of economic development; advanced sciences and research; technology and innovation; AI; space; media; tourism and hospitality; banking and finance; and defence as part of the Economic Growth cluster, while Social Development will include those working in culture and identity; education; health and well-being; community development and social services; government services; philanthropy; and foreign affairs. Nationals who hold roles within the sectors of environment and climate change; mobility and logistics; food and water security; and energy and renewables will join the Sustainability and Infrastructure cluster.
Ahmed Talib Al Shamsi, Director of the National Experts Programme, commented, “The fourth edition underscores our steadfast dedication to nurturing talent and cultivating technical expertise in sectors vital to the future growth of the UAE, aligning closely with our national priorities. Building on the success of the first three cohorts, the upcoming edition has been meticulously developed to meet the evolving needs of the UAE within a complex global context and rapidly changing technological landscape.”
“As the UAE strengthens its position as a leading global hub for trade, tourism, and commerce, the National Experts Programme presents an unparalleled opportunity for aspiring Emiratis to not only influence our nation’s growth trajectory but also emerge as leaders in their respective domains. We are confident that this edition will empower participants with specialised expertise, enabling them to play a pivotal role in advancing the UAE’S development and shaping a brighter future for citizens and residents,” he added.
Southkorea’sconsumersentimentdroppedsharply in March on growing worries about higher produce prices, a central bank survey showed on Tuesday, as inflation hiting the dinner table emerges as a major policy issue at next month’s elections.
The consumer sentiment index fell to 100.7 in March from 101.9 in February, posting the biggest monthly drop since October, the Bank of Korea’s monthly survey of consumers showed.
Inflation expectations among consumers for the next 12 months rose for the first time in five months, to 3.2 per cent from 3.0 per cent, according to the survey, with two-thirds of the respondents saying produce prices would drive inflation.
That was up from 51.5 per cent in the previous month responding to the same question.
South Korea’s consumer inflation accelerated in February, ater three months of easing, due to supply-side pressures, mostly from higher agricultural prices.
Experts have atributed higher prices of agricultural products in part to poor weather but the opposition Democratic Party (DP) has targeted President Yoon Suk Yeol’s government for mismanaging the economy.
“Theeconomyiscollapsingandpricesaregoing through the roof,” Democratic Party leader Lee Jae-myung said at a campaign rally in a major produce market on Sunday. South Koreans will go to the polls to elect the 300-member parliament and Yoon’s conservative People Power Party faces an uphill batle to win back a majority now held by the opposition.
Consumer inflation made headlines ater Yoon visited a supermarket last week and picked up a bundle of green onions saying “I’d say 875 won ($0.65) is a reasonable price”.
Opposition party members and consumer groups criticised Yoon for being out of touch, as a bundle normally sells for more than 4,000 won.
Last week, ater Yoon ordered “extraordinary measures” to bring “shopping basket inflation” under control, the government appropriated 150 billion won to fund subsidies and increase supply through direct imports.
It has also announced it would temporarily lower tariffs on imported farm goods.
Farm trade agency data show prices of 13 items including apples, green onions and spinach eased by double-digit percentages since late February ater government measures.
Statistics Korea’s data shows an index of fresh food items surged 20 per cent in February from a year earlier. Prices of apples were up 71 per cent, while green onions and strawberries jumped by 50.1 per cent and 23.3 per cent, respectively.
On Tuesday, in the produce section of a large supermarket in Seoul, customers were seen snatching up green onions and zucchinis piled up for sale at below-market prices on government subsidies, but many remained sceptical the relief would last.
“Every time I go grocery shopping, I feel prices rise not just once, but again and again. Now it costs about 70,000 won to 80,000 won to buy what was around 50,000 won before,” said Lee Hye-ja, 53, a customer at the Hanaro Mart Yangjae store.
“The government needs to do more to keep inflation stabilised,” Lee said.
So Wan-sub, a customer in her late 50s, said the government’s pledge to bring down food prices was a “show” ahead of the election and long overdue, as prices have been climbing steeply for months.
“No way 150 billion won is enough to stabilise people’s livelihoods. I think the government needs to expand support measures to a much bigger extent,” So said.
Meanwhile South Korean consumer spending will benefit from interest rate cuts when the central bank makes them, a member of its board said on Tuesday, adding that domestic demand has become more sensitive to interest rates than before.
Consumer sentiment dropped sharply in March on growing worries about higher produce prices, a survey by the Bank of Korea (BOK) showed on Tuesday, as inflation emerges as a major issue ahead of next month’s elections.
“There will be positive effects from normalising interest rates ater inflation is stabilised, as it will ease the burden of debt repayment,” the official, Suh Young-kyung, told media prior to her last policy meeting in April.
Suh, however, declined to answer a question on the timing of cuts in interest rates.
“There are also worries about upward pressures on household loans and house prices, which may not seem that huge, but certainly remain.”
Suh, whose four-year term ends a week after the April 12 meeting, said domestic spending was recovering slower than expected as it had become more sensitive to interest rates, which have stayed high over a prolonged period.
The monetary policy board will decide on interest rates ater taking careful consideration of both sides, Suh said, citing inflation, domestic demand, household debt and house prices as key factors.