IBRAHIM'S SUMMARY AND VIEW
Article: Dubai Hit Hard by Global Crisis
By: Phillip Barea in 14/11/2009
Summary:
Global financial crisis has a negative effects on property boom in Dubai. The absence of home buyers led to reduced expenditure of giant companies. Also, layoffs. Restructure of staff and delay some growth plans are used as a way for finance current project (Barea. P. 14/11/ 2009)
Dubai's stock market has dropped into lowest level since its launched in 2004. The decrease was especially in companies which have project will take long time to finish. The reluctance of lenders for financing speculators in property companies has caused more fallen in stock market. Even though. Financing demand has been risen by citizens, lenders have set up new regulation for credit to reduce the problem of cash (Davies. P as cited by Barea. P. 14/11/2009)
Dubai crisis has created several problem in different aspect। NBD. The largest bank in UAE, has ceased landing to foreign workers. Might that they will lose their duty or face staff restructure. Firing staff is caused civil problem. Dubai has to deport foreign workers who lose their job to avoid some civil protest.
Article: Dubai Hit Hard by Global Crisis
By: Phillip Barea in 14/11/2009
Summary:
Global financial crisis has a negative effects on property boom in Dubai. The absence of home buyers led to reduced expenditure of giant companies. Also, layoffs. Restructure of staff and delay some growth plans are used as a way for finance current project (Barea. P. 14/11/ 2009)
Dubai's stock market has dropped into lowest level since its launched in 2004. The decrease was especially in companies which have project will take long time to finish. The reluctance of lenders for financing speculators in property companies has caused more fallen in stock market. Even though. Financing demand has been risen by citizens, lenders have set up new regulation for credit to reduce the problem of cash (Davies. P as cited by Barea. P. 14/11/2009)
Dubai crisis has created several problem in different aspect। NBD. The largest bank in UAE, has ceased landing to foreign workers. Might that they will lose their duty or face staff restructure. Firing staff is caused civil problem. Dubai has to deport foreign workers who lose their job to avoid some civil protest.
There are a high opportunity to maintain property in Dubai. Abu Dhabi is anticipate help Dubai to overtake this crisis. Central bank in UAE has argued plan to prevent continues meltdown in Dubai, property companies and banks in UAE. Also, they are arrange liquidity as well for this plan.
References:
http://emerging-business-markets.suite101.com/article.cfm/dubai_hard_hit_by_global_crisi
View:
From this article, it can be say, that there is no doubt that Dubai will face several problem as a result of credit crisis. Firstly, unwilling of finance providers will led to reduce profitable aspect. Secondly, fragility economy has created confident crisis in investors. Thirdly, job insecurity cause increase wage rate which will led to inflation. Forth, even if Dubai exceeded this crisis, but still needs long time to builds trust with investors and skilled workers
a way for finance current projectm - gr
ReplyDeleteNot bad. Too much detail in the summary. And the response is actually a summary. You still need to work on your grammar to make it easier to read.