Massive Lay-offs Begun 50000 - 100000 Losing Their Jobs

The storm is coming: a growth strategy for the country in perilous year
ABS CBN News, Philippines
What started out in the United States as an innocuous sounding name – subprime lending – has spread like a computer virus infecting the banks of the rich countries and then the banking system of the emerging markets. ... Of this number, 50000 to 100000 are losing their jobs NOW. ...

UAE Job Cuts Forces Lower Salary Expectations

Newly unemployed 'must lower salary expectations'
GulfNews, United Arab Emirates
Dubai: As the economic crisis hits the real estate market in Dubai, job cuts have occurred and the newly unemployed must readjust their expectations in the market, according to a real estate human resource company official. ...

Opportunity to Invest in Real Estate

Al Barakah offers stakes in the company to angry investors
Zawya, United Arab Emirates
Dubai: Real estate developer Al Barakah Group is offering equity stakes in the company to angry investors who were promised attractive returns on the properties they bought from the developer in Ajman and Dubai. ...

Dubai Airport Expansion Phase III $2.5 Billion Launched

Last Phase Of Dubai Airport Expansion Launched

Zawya

Dubai: A UAE-South African-Japanese consortium led by Al Habtoor Engineering has been awarded a Dh4.9 billion contract to build Concourse 3, the final package of the Dh15 billion ($4.1 billion) expansion of the Dubai International Airport. ...

Global Economy is Imploding and Dubai is Feeling it

NEWSWEEK INTERNATIONAL EDITIONS: Highlights and Exclusives
MarketWatch - USA
Is the Party Over? (All overseas editions). Middle East Regional Editor Christopher Dickey reports that the economic meltdown has come to Dubai, the city-state in the United Arab Emirates that, more than any other place on earth, is the creation of worldwide commerce. But now, the global economy is imploding and Dubai is feeling it. ...

Azizi Investments' Projects at Palm Jebel Ali Continuing as Planned

Azizi Investments Maintains its Business as Usual
Khaleej Times - Dubai, United Arab Emirates
DUBAI - In a latest development, Azizi Investments, one of the Gulf's fastest growing real estate developers, today announced in a terse statement that it was 'business as usual' on its projects at Palm Jebel Ali following Nakheel's statement on Monday...

Positive Signs Over UAE Property Slump

UAE Property Slump may be Short-lived
Khaleej Times - Dubai, United Arab Emirates
DUBAI - The property slump in the 
UAE is a painful reality check with all the signs pointing to a more severe global recession in 2009, but the sting is likely to be short-lived, said EFG Hermes.

Bussinesses in UAE Remain Optimistic

UAE businesses optimistic despite global crisis
Zawya - United Arab Emirates
Dubai: Despite the air of gloom, businesses in the UAE remain optimistic that the country is in a strong position to weather the global financial crisis.

From real estate to retail and exports, traders admitted a slowdown is imminent, but they are banking on the UAE's strong econ-omic fundamentals, robust reserves and crisis-responsive leadership to put the economy back on track.