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I have just seen the midnight news on BBC TV in the UK. One of the main items stated was that "DUBAI IS GOING BUST!!"
Huw Edwards said that there were reports from reliable sources stating that Dubai was about to be declared BANKRUPT, because their economy was in such a mess. He said that Abu Dhabi was refusing to give it any more loans and bail-outs, because it had already given Dubai billions of dollars . An international financial expert called Mr Cyntaf Ebrill spoke on the news programme and painted a very bleak picture indeed of the economy.
He estimated that by August 2009, a further 100,000 European workers will have been made redundant in Dubai. Did anyone else see the report?

No, but I'm very much interested in that. Any internet video links or articles?

Maybe a source?

Thnx RK

No source that I saw! When I switched over, Mr Cyntaf Ebrill was talking and saying how bad it was going to be.

Ok, final search for the day...after that....sleepppp

I don't know where Cyntaf Ebrill is from, but he certainly did not sound English

RedKite wrote:I don't know where Cyntaf Ebrill is from, but he certainly did not sound English

Seems strange that nobody else has seen the programme.

Its really not a secret anymore. I was trying to point to Sheikh Mo's visit to Russia just bacause of this mess. Why do you think he has a bunch of CEO's with him on this visit?

Take that BBC, you ain't got nothing on Sheikh Mo




UAE least affected by crisis - Sheikh Mohammed
by Joanna HartleyThis email address is being protected from spam bots, you need Javascript enabled to view it on Wednesday, 01 April 2009

CRISIS OPPORTUNITY: Sheikh Mohammed sees great opportunities for the UAE on the back of the current global crisis. (AFP)The UAE was one of the least affected countries in the world by the economic crisis, and would use the situation as an opportunity to become stronger, according to the UAE’s Vice President, Prime Minister and Ruler of Dubai.

Speaking to UAE bussiness men on a diplomatic trip to Russia, Sheikh Mohammed bin Rashid Al Maktoum said the UAE’s leadership, government and institutions were working hard to counter the current economic situation.

The UAE government was optimistic about the future and had already made moves to enable companies to restart investment, said Sheikh Mohammed, according to a report in UAE daily Emirates Business on Wednesday.

no ones really understand what is going on here and the Gov being quite is not helping. yesterday you hear bad economic news and today Alhilal Bank AD establishes an Islamic bank Kazakhstan with 100,000,000. it is just too confusing

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RedKite wrote:I have just seen the midnight news on BBC TV in the UK. One of the main items stated was that "DUBAI IS GOING BUST!!"
Huw Edwards said that there were reports from reliable sources stating that Dubai was about to be declared BANKRUPT, because their economy was in such a mess. He said that Abu Dhabi was refusing to give it any more loans and bail-outs, because it had already given Dubai billions of dollars . An international financial expert called Mr Cyntaf Ebrill spoke on the news programme and painted a very bleak picture indeed of the economy.
He estimated that by August 2009, a further 100,000 European workers will have been made redundant in Dubai. Did anyone else see the report?

Wakey wakey guys, what date is it today? hook, line, sinker!

Cyntaf Ebrill was the man who said this on BBC News.
EBRILL happens to be Welsh for APRIL and CYNTAF is FIRST.

The Easter Egg goes to Duncheski!!

I reeled 'em in there !!

Now ! Now ! Robby .....stop swearing !!! You were first on the line.....Googling madly at 3.30 am Dutch time!!!

In all honesty, I am having trouble 'feeling' the recession here. Maybe all the Europeans quit 'New Dubai' and of course traffic has gone down slightly, which could partly be attirbuted to Salik. But I still know only two guys who lost their jobs, and another who lost it and got another in a month. The rest of my brown homies seem to be doing just fine. And Dubai continues to be a hellhole for parking.

RedKite wrote:Cyntaf Ebrill was the man who said this on BBC News.
EBRILL happens to be Welsh for APRIL and CYNTAF is FIRST.

The Easter Egg goes to Duncheski!!

I reeled 'em in there !!

Now ! Now ! Robby .....stop swearing !!! You were first on the line.....Googling madly at 3.30 am Dutch time!!!

Allright..... I'm punked

I've just had another new look ,
A few of you swallowed that hook!!
Prepare for the worst!
On April the First !!
Now, past noon....you cannot be "took"!!

gtmash wrote:In all honesty, I am having trouble 'feeling' the recession here. Maybe all the Europeans quit 'New Dubai' and of course traffic has gone down slightly, which could partly be attirbuted to Salik. But I still know only two guys who lost their jobs, and another who lost it and got another in a month. The rest of my brown homies seem to be doing just fine. And Dubai continues to be a hellhole for parking.

Well you and your circle of grease monkeys in Sharjah may not be feeling it in terms of mass exodus (which I'll be a part of soon) but your a blatant liar. Just 4 months ago you were bragging about being a "noble landlord" for renting out your studio at 40% below the "market price". The rents have dropped another 20% in that area since then. Are you going to the "noble" thing and refund the difference or maybe even split the difference?
Air India is adding one way flights for a reason. The labor class may be lower than you but I've seen construction companies HR struggling with making 750 bookings just last week.

gtmash wrote:In all honesty, I am having trouble 'feeling' the recession here. Maybe all the Europeans quit 'New Dubai' and of course traffic has gone down slightly, which could partly be attirbuted to Salik. But I still know only two guys who lost their jobs, and another who lost it and got another in a month. The rest of my brown homies seem to be doing just fine. And Dubai continues to be a hellhole for parking.

You will start to feel the difference in two stages Mid April & Mid June

The same story i have been read on online news site. According to Dubai ruler, Dubai is most least effect by the global financial crisis. But personally i felt the market went down badly and the uae is being empty because of recessions. Let hope the best for UAE.

K-Dog wrote:

gtmash wrote:In all honesty, I am having trouble 'feeling' the recession here. Maybe all the Europeans quit 'New Dubai' and of course traffic has gone down slightly, which could partly be attirbuted to Salik. But I still know only two guys who lost their jobs, and another who lost it and got another in a month. The rest of my brown homies seem to be doing just fine. And Dubai continues to be a hellhole for parking.

Well you and your circle of grease monkeys in Sharjah may not be feeling it in terms of mass exodus (which I'll be a part of soon) but your a blatant liar. Just 4 months ago you were bragging about being a "noble landlord" for renting out your studio at 40% below the "market price". The rents have dropped another 20% in that area since then. Are you going to the "noble" thing and refund the difference or maybe even split the difference?

Well, buddy, I rented out my studio for 39k in Jan '08. Rents went up to 55k for those IC studios around summer '08. I renewed in Jan '09 for 39k again. Rents for those IC studios are now down between 38k to 40k. What do I refund? Your upscale nuts?

gtmash wrote:

K-Dog wrote:

gtmash wrote:In all honesty, I am having trouble 'feeling' the recession here. Maybe all the Europeans quit 'New Dubai' and of course traffic has gone down slightly, which could partly be attirbuted to Salik. But I still know only two guys who lost their jobs, and another who lost it and got another in a month. The rest of my brown homies seem to be doing just fine. And Dubai continues to be a hellhole for parking.

Well you and your circle of grease monkeys in Sharjah may not be feeling it in terms of mass exodus (which I'll be a part of soon) but your a blatant liar. Just 4 months ago you were bragging about being a "noble landlord" for renting out your studio at 40% below the "market price". The rents have dropped another 20% in that area since then. Are you going to the "noble" thing and refund the difference or maybe even split the difference?

Well, buddy, I rented out my studio for 39k in Jan '08. Rents went up to 55k for those IC studios around summer '08. I renewed in Jan '09 for 39k again. Rents for those IC studios are now down between 38k to 40k. What do I refund? Your upscale nuts?

Let that K-Dog individual talk his bullcrap. You have decent prices following the market movements. If it is correct and you offered 40 percent below last years (peak) market prices, you are a very decent landlord and with current 20 percent drop in prices (for instance) you should be able to deal for the same prices again, since noble investors always average out the price spikes in my opinion.

You got my support on this one. Nothing wrong with those prices if the service and studio appartment is in decent condition.

Sage has gone quiet !! .......Don't tell me he was not enough of a Sage to spot this.

Thought sage knew his onions!!