Of course the present credit crisis might become a problem for the country. A lot of construction works are still going on like the highest building of the world. But the crisis is beginning to bite for the emerati. Gold sales are down with 80 percent, while petrol sales are down with 30 percent. Even 300 emerati did not meet their deposits for the home or office projects around Dubai. Yet the emirs of Dubai will not have problems for the time being as they have not really invested in the big projects like Palm island and the World island. As soon as these projects were announced investors were encouraged to put money in the projects. The government itself did not invest; so they will not loose money. They still have the revenues of the oil wells. Yet, the Dubai people are not all convinced and even start the rumour that the emir of Abu Dabi will take over Dubai.
Dubai Agencies and ministries will be more depended on the government for their budgets. So far agencies did not know whether they were going to be limited or not. With limitations also normal life (and shopping) in Dubai would be hit. Speaking of limitations, I was surprised to find that the United Arab Emirates block Flick and YouTube. My personal Oman guide Sangeetha explained it to me as follows: Flickr and Youtube have been blocked, as their content is inconsistent with the religious, cultural, political and moral values of the United Arab Emirates.

Blog Posting Number: 1288
Tags: content
No comments:
Post a Comment