Attacking Dubai has become fashionable in Western circles. British reporters in particular are sinking their teeth into the Emirate like dogs chomping on a juicy bone. The latest news that Dubai World seeks to restructure its debt involving a six-month payment delay has triggered a host of salivating media hounds baying for blood. Countries, companies and individuals restructure their debts all the time. There has been no suggestion that Dubai World is about to go under or that it will leave its creditors high and dry. The fact is Dubai is getting back on its feet. It’s true that it was more vulnerable to the global economic downturn than the rest of the Middle East but the crisis itself was not of its own doing. Even the finest financial brains were unable to foresee the US subprime crisis that spurred the global . There is absolutely no way that the federal government in Abu Dhabi would throw Dubai to the wolves, for if it did, the whole country would be dragged down with it; perhaps even the region. To prove the point, Abudhabi’s Central Bank has moved to guarantee Dubai’s debts while more liquidity is being pumped into Dubai banks. What Dubai’s rulers have achieved in less than four decades is incredible. The people from all over the world chose to come to Dubai because they could earn money to send to their families and, once they had managed to save a nest egg, they often returned home.
Re: dubai will bounce back
by Faceless Indian on Dec 01, 2009 01:00 PM
How long will you cut paste articles my boy ? Write something original. Oh wait.... you are from Dubai. ha ha... makes sense. Carry on. Now you know why the western media sinks its teeth into Dubai. You guys are incapable of even writing a paragraph on your own.
The note you have cut pasted has been written by a gora against an article on dubai on Arabian Business. lol.
Re: dubai will bounce back
by Zeng on Dec 01, 2009 01:21 PM
Stop being a Muslim, be human. Now I am not sure if this message will be reported for absue, since I use a bad word starting with MU...
Re: dubai will bounce back
by Zeng on Dec 01, 2009 01:21 PM
Stop being a Muslim, be human. Now I am not sure if this message will be reported for absue, since I use a bad word starting with MU...
Re: Re: dubai will bounce back
by Faceless Indian on Dec 01, 2009 02:03 PM
Bhai mere...it has nothing to do with being a muslim or anything. Dubai treats Indian muslims equally badly..... or rather, people from the Gulf don't consider Indian muslims as true muslims. Ask any dubai or saudi guy and see what they have to tell you. I have myself seen our Indian muslim brothers being discriminated against.
And yaaar.... we are Indians first. Religion comes later.yes, every religion has its fundamentalists, but you are doing not doing any good by calling every muslim bad.
Re: Re: dubai will bounce back
by Faceless Indian on Dec 01, 2009 02:03 PM
Bhai mere...it has nothing to do with being a muslim or anything. Dubai treats Indian muslims equally badly..... or rather, people from the Gulf don't consider Indian muslims as true muslims. Ask any dubai or saudi guy and see what they have to tell you. I have myself seen our Indian muslim brothers being discriminated against.
And yaaar.... we are Indians first. Religion comes later.yes, every religion has its fundamentalists, but you are doing not doing any good by calling every muslim bad.
Re: Re: Re: dubai will bounce back
by Samir Ahmed on Dec 01, 2009 11:13 PM
Ahaha!..Sahi Bola baap!..I was born in Dubai N the discrimination is just too much..You know..Maybe all this is happening now coz they fingered most expats for so many years!..Karrrmaaaaaa!!!!!
Re: India will suffer
by Faceless Indian on Dec 01, 2009 01:02 PM
Nothing of that sort will happen. Its a blessing in disguise. All the investment that would have otherwise gone to "developing" dubai will now come to India. Why ? becoz India is one of the 5 top countries which will grow in a big way this year.
All the labor that has come back may initially feel a burden but they too will find work once real estate bounces back next year.
indian companies are worse than mnc's they have started taking enployees on contract and firing without giving proper notice..we are talking of dubai companies but so calledindian companies are more high handed and worse than mnc operating in dindia and govt will not help or do anything..
Re: indian companies are worse
by Faceless Indian on Dec 01, 2009 01:06 PM
India has its share of nonsense but ever heard of an indian company taking away the passport of a foreign worker or putting a six month work ban on him if he dares to leave the company ? Ever heard of India putting a immigration alert on someone if the person loses his job and has a outstanding balance on his credit card ? Ever heard of a foreigner being jailed becoz he couldnt pay his car EMI ? Ever heard of a foreigner in a legal case not being allowed to know what is written on the court papers and case discussed in a vernacular langauge ? naaah.... foreigners live like kings here.
Re: No money to pay low skilled workers ...
by inty on Dec 01, 2009 12:58 PM
mr.chicago is children of TERRRORIST Nathuram Godse the killer of Mahatma Gandhi
Re: No money to pay low skilled workers ...
by siddique on Dec 01, 2009 12:39 PM
mr chicago even india has no money to feed and provide basic amenities to its people still indian elite spend like erstwhile maharajas.why u people r so jealous of dubai.may be u can not digest the fact that a muslim country can prosper in short time.whar uae achived in 38 yrs india cud not do a fraction of that in 62 yrs.if working condition in dubai is bad then travel in mumbai local.there is rule of law in dubai.no nun is raped.no missionary person is burnt alive no mandir is demolished dubai labour dept makes sure taht a person working in cafeteria also gets graduity and other benefits.compare this with millions of person working in unorganised sector in india who are working like daily wages people. set ur fact right before commenting others.
Re: Re: No money to pay low skilled workers ...
by Z X on Dec 01, 2009 02:26 PM
Rule of law in dubai ? yeah right. one set for towelheads & europeans and another for the rest.
Re: Dubai should dstart worshipping Laxmi instead of Dawood...
by erk l on Dec 01, 2009 01:29 PM
Even after worshiping Laxmi more tahn 60% people of india living below poverty line.
Re: Dubai should dstart worshipping Laxmi instead of Dawood...
by erk l on Dec 01, 2009 01:29 PM
Even after worshiping Laxmi more tahn 60% people of india living below poverty line.
Re: 59B?
by Faceless Indian on Dec 01, 2009 10:15 AM
The problem is NOT the amount of 59 billion.The problem is credibility and lack of transparency. In the US, there is a fair amount of transparency in business dealings and once the investors get a whiff of it, the scamsters are doomed. Here Sheikh Mohammed himself lied to the World economic forum last week. The problem was of NOT acccepting that there was a problems and that the worst was over and recovery was on. and next week this happened. The problem here of 59 billion is just a drop in the bucket but the bigger problem is not knowing who else is next and what else is going to default from Dubai. abu Dhabi will bail it out this time like it has twice in the last year - point is how long will it go on paying for the mistakes and false dreams of its neighbor ? That is what is worrying investors incase you still havent figured it out.
By the way...look at it this way. If an individual living in dubai had a loan of 200k from a bank and instead of paying it back had said I want a debt freeze for the next 6 months becoz I have a liquidiyt proble, what do you think would have happened ? His bank account would be frozen, his passport seized or a immigration alert sounded , his credit cards frozen and chances are that he would have been jailed. But since the offenders this time are the people who made the rules, the drama continues.
Re: Re: 59B?
by siddique on Dec 01, 2009 12:49 PM
mr faceless,may be shaikh muhammed lied about financial status of dubai.this will cause only monetory loss to investers but ur god on earth president of america mr bush lied about weapons of mass destructoion in iraq and started a war which cost thousands of lives.what u have to say abt that.almost 80% of indian beurocrate and ministers are corrupt and indians like u r criticising dubai govt.set ur own house in order before commenting.
Re: Re: Re: 59B?
by Faceless Indian on Dec 01, 2009 01:12 PM
dude.....no one is saying what Bush did was right or desi bureaucrats are god. The topic here by Lal is something else and i am answering it. I didnt talk about what is happening in your waziristan or swat. So for a change, stick to the topic. lets address those problems when the forum demands it.
Bush did something wrong, so Sheikh Mohammed has the right to lie about dubai's status. Wow. fantastic logic. By the way, when Bush invaded Iraqw, the stock markets boomed. You saw what happened when Shk Mohammed lied.
Re: 59B?
by Aam Aadmi on Dec 01, 2009 10:09 AM
because 59b for a native population of 100,000 is too much to repay. Where would they get that money? They promised too much to their investers and built infrastructure on these invester's money. Now they don't want to repay the money. 59b for dubai is equivalent to 180 trillion for the US based on population
Re: Re: dubai should convert
by Aam Aadmi on Dec 01, 2009 10:53 AM
yes, india is a creditor nation and growing at 8% anually. God is with true believers of india.
Re: Re: Re: dubai should convert
by Aamir Ali on Dec 01, 2009 01:15 PM
CREDITOR!!!!! HO HO HO...
The condition of India's external debts have further worsened in 2007, compared to the previous financial years. Today, the total outstanding loan on the Indian government is worth 41.57 billion US dollars, among which some portions belong to global financial organizations and some are meant for bilateral financial assistances. The actual breakdown of the outstanding loan amounts is stated below: World Bank will receive 25.49 billion dollars 14.05 billion dollars will go to the bilateral assistances In an nutshell, the external debt condition in India declined from March 2006 to March 2007 when the debt stock increased from US$126.5 billions (2006) to US$ 155.0 billions (2007). In 2007, the accumulation of debt worth US$ 28.2 billions represented an escalation of 22.6%.
Re: Re: dubai should convert
by Krishna on Dec 01, 2009 11:01 AM
Unfortunately, India is not a Hindu nation, but a secular nation. Hence all the problems....
Re: Re: Re: dubai should convert
by Aamir Ali on Dec 01, 2009 01:17 PM
Who told you that India is secular? Indian govt? The only country where mosques are broken down, christian priests are burnt alive and nuns are raped... but still India is secular...
Re: Re: Re: Re: dubai should convert
by Rohit on Dec 02, 2009 12:18 AM
Where we have had 3 Muslims Presidents, ine Sikh President and a Sikh Prime Minister in just 62 years.
Don't forget, the last time the Pak "Army" fought they were beaten by an Indian Jew, Gen. Jacob. hahahaha
