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Hi everyone. Just wondering if anyone can confirm/deny/elaborate on the following things which I heard from a friend who is a friend of someone who lives in Dubai and has a position which allows them to see a little bit more inside the government than usual folk. These things sound quite sensationalist to me, and I'm not sure of their accuracy. So please, enlighten me because I'm about to move to Dubai to work and am nervous!


The Dubai economy is going into serious free fall.

The sheik has fled to Qatar, no wages have been paid for 2 weeks

The sheik tried to borrow 200 billion USD from abu dhabi and they turned him down, saying they would need emirates airlines as security to sure up the loan (and additionally entire suburbs of dubai)

People are dumping their cars at the airport and leaving town to the extent that they are having to remove cars from the airport because it's getting clogged up.





To be frank, I'm nervous about earning AED and then having my bank account cleared as part of a 'nationalisation' process when the bottom really falls out of the government's bankbook.

LOOOOOL ... good morning everyone

a sheik fleeing to Qatar of all places???

Emirates airlines as security????

conspiracy theories.......

and someone probably does not want you to move to Dubai.

Well they have just handed over a certain amount of Emirates to AD yes. Many of Dubai Holdings assets have been sold to AD. They are in trouble.

He has been out of the country of late, but for other reasons.

Chocoholic wrote:Many of Dubai Holdings assets have been sold to AD.

Sold or taken?

well actually no , Dubai refused the emirate airline idea, so AB choose Dubai Electricity and Water Authority (DEWA) for some reason ! the shares went TAQA . TAQA also owned the encore Holland petroleum company and the Canadian prim west energy company recently.

Okay my bad, but ownership of Emirates has been transfered to ICD:

http://uaeinteract.com/docs/Emirates_an ... /33512.htm

Lots and lots and lots and lots and lots of rumours people

Spreading rumors have 10% chance that it is true and 90% chance had relation to it.

thanks for all your quick responses.

does anyone here speak arabic? apparently this is all over the arabic news but not in the western media outlets

if you go to h t t p : / / w w w .daijiworld. c o m / n e w s/ and then

news_disp.asp?n_id=55704&n_tit=Indians%2BFlee%2BDubai%2Bas%2BDreams%2BCrash%2B%2B-%2BFall%2Bout%2Bof%2B%2BEconomic%2BCrisis

(note that this article is repeated in some other news outlets but no one seems to have written their own version, so i'm not sure about its legitimacy)

krazykaz wrote:
news_disp.asp?n_id=55704&n_tit=Indians%2BFlee%2BDubai%2Bas%2BDreams%2BCrash%2B%2B-%2BFall%2Bout%2Bof%2B%2BEconomic%2BCrisis

Some Idiots can believe anything

krazykaz wrote:thanks for all your quick responses.

does anyone here speak arabic? apparently this is all over the arabic news but not in the western media outlets

if you go to h t t p : / / w w w .daijiworld. c o m / n e w s/ and then

news_disp.asp?n_id=55704&n_tit=Indians%2BFlee%2BDubai%2Bas%2BDreams%2BCrash%2B%2B-%2BFall%2Bout%2Bof%2B%2BEconomic%2BCrisis

(note that this article is repeated in some other news outlets but no one seems to have written their own version, so i'm not sure about its legitimacy)

Err.. that article's written in English.

krazykaz wrote:To be frank, I'm nervous about earning AED and then having my bank account cleared as part of a 'nationalisation' process when the bottom really falls out of the government's bankbook.

Well simple, then don't earn AED.

Anyway, Dubai is not a country, it's an emirate. So what nationalisation are you talking about? Whatever is true about Dubai's economy (some of those stories were reported on in the press), you and your sources don't sound credible to me. Anyone can say "a friend of a friend ..."

No need to be rude!

I wasn't trying to say that these things were happening - ie "a friend of a friend told me so you should believe me". i was ASKING if anyone could comment on these things to help me out. you should all know as much as i do that dubai doesn't exactly have perfect freedom of the press. if i get told something from someone, it's not like i can just check the papers to see if what they're saying is true. this person has decided not to go to dubai at all, it's that serious for them. so i needed to ask. now i've spoken to other people who i know in dubai, it doesn't seem as serious to me as it did to my friend. well at least, it doesn't seem that much worse in dubai than anywhere else in the world getting hit by the crisis. so thanks for your input, but please stop being rude about it.

I wonder who was being rude?

krazykaz wrote:No need to be rude!

I agree. That's why I wasn't Mr Hominem.

krazykaz wrote:it's not like i can just check the papers to see if what they're saying is true.

Lucky for you there are internet forums that will supply you with the truth then. Being too lazy to search them demonstrates how uninterested you are in finding answers.

krazykaz wrote:this person has decided not to go to dubai at all, it's that serious for them.

I think you should listen to your friend. She might be right.

sage & onion wrote:I wonder who was being rude?

Me.

bonk wrote:

sage & onion wrote:I wonder who was being rude?

Me.

Naughty, naughty

sage & onion wrote:Naughty, naughty

You're too kind Mr Onion.

bonk wrote:

sage & onion wrote:Naughty, naughty

You're too kind Mr Onion.

I know Mr Bonk

The question is......how wealthy is Abu Dhabi? If it came to the crunch , could Abu Dhabi pay to finish the projects that NEED finishing? Some Dubai projects could be left, could they not? I have never seen the LOGIC of Dubailand. It is a different market. Mainly working class and very young families.

Eurodisney supplies that much cheaper for European families and Dubai is too far from USA.
As has been said, Abu Dhabi is in the SAME COUNTRY as Dubai, so it underpins the currency. It also has global assets it can sell.
I'm afraid that Dubai has been PROFLIGATE if all the schemes like Hydropolis and the World , mentioned on www.visit-dubai.co.uk are considered. Hydropolis is EXTREMELY expensive, just like the Palms and Burj Dubai. Then what about Al Burj ??

Who NEEDS all these offices? Dubai has gone OVERBOARD ! It's a bad sign if Abu Dhabi is forking out already.
It seems to me that Dubai has INVESTED TOO MUCH......compared to the return on capital it is going to RECOUP!!

You need the WEST.......and the WEST is in deep recession!

a bunch of conspiracy theories. let's strive to make this place factual (lol). lots of similar news will come out between now and god knows when the economy recovers. it is just human nature to deter away from the true painful realities and resort to dirty humor and bs theories

The Dubai Information Site

think its alot better then usa,uk, etc atm lol!, still few things n that happening but not sure .

DubaiInformationSite wrote:a bunch of conspiracy theories. let's strive to make this place factual (lol). lots of similar news will come out between now and god knows when the economy recovers. it is just human nature to deter away from the true painful realities and resort to dirty humor and bs theories

The Dubai Information Site

Yes indeed, lets strive to make this place factual.

So no-one will answer Red Kite !?
Expats are too full of fright !
Arnie's not here,
He lives not in fear,
But expats don't want homeward flight!!

well no ones know really how wealthy is AD , only a bunch of guys how has the total income amount of the city but I would say they can build another country in a blink of an eye LOOOL the money never stops flowing in their hands, they are filthy rich they bought Manchester City soccer team out of being bored I guess

uaekid wrote:well no ones know really how wealthy is AD , only a bunch of guys how has the total income amount of the city but I would say they can build another country in a blink of an eye LOOOL the money never stops flowing in their hands, they are filthy rich they bought Manchester City soccer team out of being bored I guess

With somewhere around 420.000 citizens in Abu Dhabi the projected net worth per citizen is around US$17 million.

That gives an indication of their wealth. Not to forget the 1 trillion dollars coming from foreign investments into AD.

Lets buy another SLR and put it against the wall...For Fun...F@ck yeah lets do that. Inshallah

uaekid wrote:well no ones know really how wealthy is AD , only a bunch of guys how has the total income amount of the city but I would say they can build another country in a blink of an eye LOOOL the money never stops flowing in their hands, they are filthy rich they bought Manchester City soccer team out of being bored I guess

MAN CITY??????? HAHAHAHAHA. Some things, whatever the money, can never be fixed.

Smoggie,
Give Mark Hughes TIME......and Abu Dhabi money, and he WILL fix Man City. Watch them next season!!
Craig Bellamy is a really quick attacker , but they need to use him properly. he can't compete in the air, but he can run with real speed at defences.