Dubai in financial trouble?

That was really informative about the subject being discussed doham, thanks.

How did you know all these SANDEEP? are you beside every single person involved in all these things..are you really there first hand when all the things that you are saying are happening..don't pretend that you know everything coz u might end up giving wrong information so don't be stupid..frustrated business analyst and political adviser..waaaaaaaaaaaa

"HIPOS DYAN!!!"

being that the more you pay the better the Advisors must be!

Actually Dohamomma the problem is they hired too many advisors, they made tons of money off the locals advising them how to waste their money. I think they should never have hired those advisors..

I think that the creepy part is firing advisors and replacing them with your sons. Okay, fire your advisors but hire other ones who have a history of success and deep knowledge based on experience and education. This is the only way to begin to address this problem.

visit dubai to see the reality... even if abu dhabi got infected with global crisis they still have oil, but the dubai none!

DON'T LET FANTASY ROB YOU OF YOUR REAL LIFE BEAUTY

it was common knowledge that Abu Dhabi had bailed them out to a large amount ($10 billion). Apparently they are looking for another $56 or so billion.

They haven't much any oil to speak of for some time and something has to pay for the development.

This is just to do with Dubai Warld. Abu Dhabi is playing a good game. They will reel in the catch when they feel the time is right.

It is not a rumor, I think.

World stock markets fell sharply Thursday as investors fretted over the debt problems at Dubai World, a government investment company, and the continued fall in the dollar.

http://finance.yahoo.com/news/Dubai-debt-fears-hit-world-apf-3624614071.html?x=0&sec=topStories&pos=2&asset=&ccode=

no, most economies are not artificial, where you have people living where there is a natural advantage for doing so, an economy grows....however if the foundation to your bubble is made of sand ,,, wellllll.... :)

and besides that the Cyclone has closed!! so what is left anyway!! :)

anyway I am packing for a week's r&r in Odessa,,,,beer at 70 cents, and no passport checks at the bars... :)

Dubai's companies are going bankrupt too. Check the progress of Dubai Towers by Sama Dubai near Corniche here.. They don't even have money to dismantle the cranes erected there.. That tower is postponed indefinitely and that concrete structure will be an eyesore for a long time to come

Nephi, I'm not in Dubai and it's been years since I've written in newspapers.

If you go to Bloomberg's site and enter a search for Dubai you will find a full page about the repercussions on world stock markets of the Dubai government's announcement that it wants to default on the Dubai World loans.

It isn't a rumour.

nephi he is not publishing it in a newpaper in Dubai..

Anyway lets not make this thread a personal chit-chat one and lets keep out the wisecracks.. The fall of Dubai's economy is something the other countries can learn from so keep this thread clean..

SANDEEP....how can PAUL COWAN made a statement like this? is he not afraid of dubai officials? lolzzzzzzzzzzzzzzzzz.

anywayz maybe he has alot of money for the fine..

but still unless no data nobody caN PRove that dubai is in financial trouble...lets just wait..okeyyyyyy..

everthing is just rumors...

I suppose all economies are artificial. At the very least they rely on the belief that bits of printed paper or - and this is even less substantial - numbers on a bank statement have some genuine value.

and all that good stuff.

If you are going to build an artificial economy, and don't plan for the bubbles along the way, well, what can one say.

A mature economy works on supply and demand and it corrects itself every 7 years or so now....

Dubai will come back in a different form..

BUT remember,, those who left their debt behind will never return, so there will be lots of jobs and positions in the second wave,,,,,just plan your exit beforehand.

nephi if you are talking about the debt BBC posted it and I don't think there are more reliable sources than them in terms of reporting..

Dubai Govt had declared a fine of 250,000 AED for anyone reporting anything about recession in Dubai so you will never find a government release from Dubai on this subject...

unless it is from the authorized personnel to declare statement like that....everyhthing is nonsense...

@ Sandeep more than the rivalry,there are MASSIVE ego issues amongst the whole of the GCC,the UAE merely being an extension of that...all this while,Dubai one-upped Abu Dhabi despite Abu Dhabi being the capital,Abu Dhabi now sees it as their turn & have set about buying/bailing out Dubai's assets so they have the controlling say in matters of policy,something Dubai obviously won't be happy about but they don't exactly have a choice now do they?...it's a cycle,akin to everything else in life i suppose...Dubai's more grounded now,the boom was unreal & needed a pin prick to burst the bubble & allow it to settle,which it is in the process of now...

There is immense internal rivalry between the seven emirates paul especially between Abu Dhabi and Dubai.. I won't put it past them to let Dubai get embarrassed and then bail them out just to show to the world who's the boss in UAE.. Abu Dhabi ofcourse has oil money and could have bailed out Dubai if it wanted before it became public..

I suppose that if Abu Dhabi was happy to bail them out it would all have been done quietly behind closed doors, rather than revealing their embarrassment to the world. After all the Ruler is also the Deputy President of the UAE and Dubai is in effect the public face of the federation as a whole.

If I was Abu Dhabi, I would not. I'd say: "Down with the competitor!"

Just wondering if Abu Dhabi will bail them out again...

Nobody knows the extent of problem in Dubai as they put a ban on press from printing anything related to their financial troubles..

"Junk" status! I always knew it!