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Time of India
3 days ago
- Business
- Time of India
In UAE, AI now issues work permits in seconds, zero bureaucracy, zero paperwork
With over 100 digital services live 24/7, MoHRE's AI now grants work permits in seconds/ Image: UAE MoHRE The Ministry of Human Resources and Emiratisation (MoHRE) has unveiled a major leap in its digital transformation strategy, introducing fully automated, AI-driven work permit services as part of its mission to deliver best-in-class services for both private sector companies and individual users. Underpinning this transformation is MoHRE's use of artificial intelligence to automatically issue work permits for establishments, eliminating manual applications and slashing document requirements by 100%. The move represents a paradigm shift in the Ministry's service delivery model, setting a new benchmark for efficiency, accuracy, and customer satisfaction. Seamless Smart Services: AI Takes the Lead As part of its broader vision to enhance labour market competitiveness, MoHRE has rolled out an extensive suite of smart and automated services. These include: Real-time issuance, cancellation, and amendment of work permits and employment contracts, all handled entirely by AI systems, without human intervention. Issuance of 'To Whom It May Concern' certificates for domestic workers, available in multiple languages via MoHRE's digital platforms, removing the need for physical center visits. Online cancellation of absence-from-work complaints for both domestic and private sector workers. MoHRE has also streamlined legal and administrative processes: Through its Labour Consultation and Claims Center, the Ministry provides simplified access to legal guidance and claims filing. Farm and ranch owners can now open establishment files digitally, using intuitive and secure tools provided by the Ministry. Zero Bureaucracy: A Policy in Action These innovations are a key component of the UAE government's 'Zero Bureaucracy Program', and adhere to the 'Ask Once' principle, a national commitment to eliminate repetitive paperwork and make services fully automated and user-friendly. For example: New work permits for domestic workers are now issued automatically through integrated government systems, requiring no additional documentation or physical procedures. This aligns with the UAE's National Strategy for Artificial Intelligence, where digital transformation and operational agility are prioritized across public sector services. Today, MoHRE offers more than 100 digital services, all accessible 24/7 via its official website and mobile app, maintaining the highest standards in security, reliability, and usability. Measurable Results and Enhanced Engagement MoHRE has made notable strides in executing the Zero Bureaucracy Program, aiming to: Increase government efficiency Enhance service responsiveness Improve overall service quality Elevate the UAE's global competitiveness A key driver of this progress is 'Tawasul', MoHRE's official communication platform. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo Operating across 14 digital channels, Tawasul runs on a unified and secure infrastructure, giving users easy access to clear, transparent, and real-time support. Since launching in 2022, Tawasul has seen: Conversion of 11 services into proactive formats Introduction of 9 instant services These changes are directly informed by user feedback. MoHRE actively encourages customers to share challenges, suggest improvements, and help prioritize services. The Ministry has consistently implemented these ideas, reflecting its agile and responsive approach to policymaking and execution. Building a Future-Ready Public Service Ecosystem Looking ahead, MoHRE is focused on continually refining and expanding its digital infrastructure to meet the evolving needs of the private sector and align with the country's sustainable development goals. This transformation is not limited to technology alone, it is also driven by internal capacity-building, including: Ongoing staff training Upskilling programs Enhanced internal performance standards Backed by a robust legal and policy framework, cutting-edge infrastructure, and a globally competitive labour environment, the Ministry is solidifying the UAE's standing as a premier destination for living, working, and investing.
Yahoo
04-04-2025
- Automotive
- Yahoo
FedEx Corporation (FDX): The Best Freight Stock to Buy According to Hedge Funds
We recently published a list of . In this article, we are going to take a look at where FedEx Corporation (NYSE:FDX) stands against other best freight stocks to buy according to hedge funds. Freight stocks are often perceived as boring if compared to the flashy technology and AI stocks, but they are actually the blood of the global economy – the freight sector is the backbone of trade and the gross domestic product of every country. In essence, any good produced and sold was almost certain to have been involved in transportation, often several times at different stages of the supply chain. This means that freight companies are able to capture a small share of the giant gross domestic product, which makes the overall sector a huge size. The key growth drivers of freight activity are trade volumes, fuel prices (cheap fuel is a huge profitability boost), public spending on large projects like infrastructure, and the level of manufacturing activity. Consequently, freight stocks thrive during periods of strong economic growth, supported by affordable energy prices and low interest rates, as well as a calm geopolitical landscape that ensures the free flow of goods. Conversely, the whole transportation sector tends to underperform during sluggish economic conditions, featuring mediocre construction and manufacturing activities, slowdowns in both public and private spending, and other macro headwinds like high interest rates and inflation, which pressure consumption on a large scale. READ ALSO: 10 Best Transportation Stocks to Buy According to Hedge Funds The year 2024 was not the best for freight activity in the US, as almost 2 years of high interest rates and past inflation finally took a toll on consumption, industrial activity, and construction. Last year, while strong from a valuation standpoint and stock market returns, it actually brought a significant slowdown in consumer spending, residential construction, automotive volumes, and industrial production. There were pockets of strength in data center construction, public construction (as fueled by the Infrastructure Act), and some industrial niches, but that was not enough to fuel growth for freight stocks. As a result, the whole sector underperformed the broad market and reached a new 5-year low (relative to the broad market) by year-end. Furthermore, the new US administration brought even more challenges into 2025 – the cut in public spending is likely to eliminate some of the pockets of strength mentioned above, while the tariff threats are a huge headwind for commerce and the flow of goods. The Atlanta Fed and other reputable research boutiques have drastically cut their estimates of GDP growth for 2025, which puts transportation stocks out of favor again. However, according to the principles of value investing, the trough of the business cycle, when stocks are trading at or near their lows, is the best time to acquire good companies at exceptional prices. As legendary investors like Warren Buffet and Peter Lynch have taught us, valuations certainly do matter for long-term stock returns, meaning that periods of underperformance are opportunities to acquire stocks at bargain prices. We also believe that the long-term picture remains favorable, and there are reasons to expect a reacceleration in GDP growth and freight volumes at some point in 2H 2025 or 2026, once the current challenges are navigated. The main reason for long-term optimism is that the outlook on the construction sector is favorable due to a chronically undersupplied residential housing market and the aging of infrastructure in the US. Second, industrial activity will also have to rebound at some point, and we believe that lower interest rates over time will unmute the 'Roaring 2020s' tailwinds in such areas as electric vehicle production, energy grid, and automation – all of these will bring higher volumes for the freight sector. The key takeaway for readers is that we may be at an opportune time to acquire freight stocks at bargain prices ahead of a broad economic recovery over the next 1-2 years. We used a stock screener and thematic ETFs to shortlist 40-50 companies operating in the freight space, which includes the 'Integrated Freight & Logistics' and 'Trucking' industries. Then we compared the list with our proprietary database of hedge funds' ownership and included in the article the top 12 stocks with the largest number of hedge funds owning the stock as of Q4 2024. All stocks are ranked in ascending order. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). A driver unloading packages from a van for a time-critical Corporation (NYSE:FDX) is a close competitor of UPS as it closely matches the scale and capabilities of its rival – it operates one of the largest express air fleets with coverage of more than 200 countries. The company provides both domestic and international package delivery, LTL, Truckload, brokerage, and contract logistics services. FDX also leverages advanced analytics and machine learning capabilities to offer real-time tracking, visibility and improve the speed and accuracy of deliveries. FedEx Corporation (NYSE:FDX) delivered a strong performance in its latest Q3 2025, with revenue growing 2% YoY for the first time this fiscal year while achieving 12% adjusted operating income growth despite significant headwinds. The company successfully achieved $600 million in DRIVE savings during the quarter, continuing its progress toward structural cost reduction goals. FDX also showed robust performance with adjusted operating income up 17%, despite challenges from the USPS contract expiration and severe weather events. Looking ahead, FedEx Corporation (NYSE:FDX) cited an uncertain demand environment and higher-than-expected inflationary pressures. The company remains focused on transformation initiatives, including DRIVE, Network 2.0, and Tricolor, which are expected to create long-term value and offset some of the short-term headwinds. Despite current challenges, notable progress was made in Europe, with the best service levels seen in years driving profitable share growth, and the company remains on track to achieve $600 million in DRIVE savings from Europe by fiscal year-end. The company's strategic initiatives have fundamentally changed its structural costs and positioned it to expand into new market segments profitably. Overall, FDX ranks 1st on our list of best best freight stocks to buy according to hedge funds. While we acknowledge the potential of FDX, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than FDX but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: and . Disclosure: None. 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