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Emirates airlines Dubai PR 20, February 2010

Posted by thegulfblog.com in The Emirates.
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I’ve just arrived back in the Gulf thanks to Emirates Airlines. From London to Dubai I flew on one of their mammoth Airbus A380s. It’s really quite a plane and essentially the most comfortable long-ish haul flight that I’ve ever had. It was amusing to see their Dubai PR video as I came into land at DBX. Amid the usual glossy shots of the Burj Al Arab, the gaudiest hotel in the world, the desert, the Souq etc etc came the line:

Forget the credit crunch….Spend!!

fitting, no?

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Migrants the only losers in Dubai 8, December 2009

Posted by thegulfblog.com in The Emirates.
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As much as Dubai is suffering at the moment from its crippling credit crunch, one must never lose sight of the fact that Emiratees will be fine. They will not go without their Porches, Range Rovers or trips to the South of France. The ones that will be suffering the most will, as always, be the migrant workers from Asia and North Africa. There are already stories of tens of thousands being laid off. Do you think that there is any – any – chance whatsoever that these workers will receive their owed back-pay or end of contract gratuity or severance pay? None. Khaaalis.

This is the reason that people should be angry with Dubai. Not because some greedy bankers in London have lost (yet more) money nor that the get-rich quick bankers and accountants from Essex who went to Dubai for no tax, cheap booze, the tackiest of houses and sex on the beach have lost their jobs, but because of the devastating knock-on effect that this will have on remittances and dirt-poor families in India, Pakistan, Bangladesh, Egypt, the Philippines….

Hat tip: Abstract JK

Debt Graphic 1, December 2009

Posted by thegulfblog.com in Random.
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The New York Times has this interesting little graphic picking out a few countries and where their debts are held. I suppose they have a good reason for essentially singling out Greece in this manner and they’re not seeking to spread unfounded concern about their debts…

Abu Dhabi bails out Dubai…again 25, November 2009

Posted by thegulfblog.com in The Emirates.
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Two Abu Dhabi banks have lent some $5 billion to Dubai which is by all accounts still struggling massively since its credit-crunch collapse. For this ‘investment’ Abu Dhabi have demands both large and small. For example, Abu Dhabi sought and gained a huge stake in Dubai’s flagship airline Emirates and also changed a bill-board in a prominent place in Dubai from a picture of Dubai’s ruler to a pointedly different message proclaiming ‘Long live our Emirates Union’ with a picture of UAE President Shiekh Khalifah bin Zayed Al Nayhan, just to rub it in.

 

Russian economy down 7.5% 14, October 2009

Posted by thegulfblog.com in Russia.
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…according to the BBC. This is a truly frightening figure. To think that those in the West are fretting about negligible growth…