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Nivine79 wrote:would you say it is worse in Dubai with lay offs, than it is in Europe currently? Europe just started....

That's hard to say, because it only hit here a short while back. It hit banking, construction and real estate quickly and badly, but it's still filtering down the line. The world is going to hurt, maybe there's a little shelter here. Can anyone else paint a more optimistic picture?

M! wrote:sarcasm is just another service i provide
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hmmm I'd say you're the industry leader

skin color is indeed a factor still, very sadly.
But tell me, is it in all working sector that the unemployment started, or mostly in the industrial and real estate?

by the way where will all people go, if they do not have any social well fare.... that is the scary part for sure... UAE government does not help any of them, they just have to return home?
wonder where the best place is to be right now...

Nivine79 wrote:skin color is indeed a factor still, very sadly.
But tell me, is it in all working sector that the unemployment started, or mostly in the industrial and real estate?

Read my post just now that crossed with yours. Finance also is getting tough, banks and finance companies are making it much harder for people to borrow, raising the bar so that a lot of people can't afford car/home loans now. They are also raising rates on existing mortgages so that some people are getting really squeezed.

I read that the government have it in mind to do something about this, and stimulate lending, but they seem much less inclined to tinker with the economy in this way than European/American governments direct action programs.

It's amazing that my bank are giving me 5.3 pct interest on Dirham deposits here, no min/max and only monthly deposits required. They're desperate to keep money in hand, and still scared to lend.

Nivine79 wrote:by the way where will all people go, if they do not have any social well fare.... that is the scary part for sure... UAE government does not help any of them, they just have to return home?
wonder where the best place is to be right now...

no help for anyone here, make sure you keep the price of a flight home in case it all goes wrong. Indian construction workers come here on promises of good money, find they are paid almost nothing, and can't even afford to go home. trapped.

you can come here and chance it, at least you could see the place for a few months (it's worth a look!), but I wouldn't burn your bridges back home just yet. treat it as a paid (or half paid!) holiday?

may I ask, what do you work with?

I am, unfortunately, in the finance industry... so to apply nowadays to banks or finance providers is not fun. Dont even get responses. here in Sweden you have postings that have been applied by over 900 applicants. so you most of the time does not get a response even.
But I would say that it then sounds as being the same in Dubai.
Although.. I have seen many job postings within accountancy in Dubai...not sure why that is. But could be that is was a lot more before, and now got reduced as well.
I have applied to some jobs, but get nothing. Probably they focus first on people that are already in Dubai! before they move on to outsiders... which is fair of course.

is there a protection for your investments, people can insure they savings?

I'm in oil trading, but I don't know much about finance/accountancy LOL. Also I know nothing about insurance against earnings loss or savings loss as I never tried it. AXA is a big insurance company here and pretty trustworthy, you could try them.

An awful lot of accountants here are Indian, I think they work for less than a European wage, but then again you earn tax free here so you still might be interested?

I have to go out now, but good luck!