Millhouse

Any views? Boom or Bust for the UAE in September?

From what I have heard, off-plan real-estate is dead although they keep launching, it's a buyers market.

As for the rest of it, impossible to see. Seems quite busy for the summer considering - I don't see the animal dying yet at all. The economic data seems positive with economy trackers all positive etc - although if the US increase rates I think it could deliver a death blow to the currency*

* rising US rates, pushes the US$ up in value. To maintain the peg, UAE would have to increase interest rates at a time when the local economy needs lower rates. If they increase rates, the local costs increase and the AED strengthens relative to the GBP/EUR - making the place even more expensive. It would deliver the another blow to the asset heavy sectors that the economy relies on (e.g. real estate) as well as tourism.

what's it like where you are? My taqado index is still negative, inflation of prices through shrinking of portions continues.

scrubbedexpat141

We're flat out busy locally. I've done more work locally here than I have in a long time, especially core construction - previous large exhibition based programmes have taken many people but in non-core ares (think: IT / Training / Risk / HR etc).

Developers appear to be booming or busting. We got half a dozen RFPs out of one last week, which is mental for them. Others are offering their staff to us and building nothing - finance issues? deciding to hold back?
So many of the developers are linked to each other and some areas are being scaled back and others pressing on. If developers are releasing building, it means they know they'll sell so there's money somewhere....but, a guy I met a few days ago said they'd (developer) been hit by the multiple angle approach and thinks the combination is far worse than any single element; oil price, Yemen war, Russian money drying up, Chinese money drying up, Indian money drying up, Qatar issues etc.
In 2015 they sold just over 1,000 small villas in 24 hours.
In 2017 they don't, won't and can't get anywhere near that sort of level.

I am ever positive, fortunately India is busy for us, Australia will be too I hope so that should keep me ticking over.

Had Taqado the other night delivered. Ordered extra / double meat, turned up and I have no idea if it was or wasn't extra / double. They go back in the 'don't order' category I think.

jam25mack

I'm pretty busy. Had a quiet few weeks but that finished about a month ago and now everyone is on at me, and as ever they want it NOW. Still cruising along tho.

In other news, it was announced yesterday that we have just been bought out for approx. $3.5 Bn. Let see what happens with this lot.....

Millhouse

If you order double meat you expect to see meat pouring out of the wrap. That's never the case. I've also noticed a bit of meat to rice swapping. That's poor form. Screwing me on the meat is one thing, but padding it and cheating me with extra rice is simply offensive.

It's a shame they are so stingy, as the food is quite tasty.

jam25mack

Hate Taquado. Duped me the first time with a stingy portion so have never been back.

scrubbedexpat141

Please tell me you've seen the video? The CEO with the cheesy tunes telling the world how this is a good thing that yet another name firm are disappearing into a balance sheet on a stock market. It's so American it's unreal.

Yes I do Millhouse and you're right, it's never the ****ing case.
We've said it before but paying for guac and cheese and other staple elements of a Mexican meal is a joke.

That being said, the burrito box with rice and small side of nachos to use as scoops was very tasty....but by the time you've added extras and things you are looking at a pretty lumpy amount of cash money for fast food.

Anyway, glad that was the only interesting bit of my post

Millhouse

It was all interesting. It was just that taqado gets me where it hurts.

scrubbedexpat141

Me too brother. I might try it again tonight after a few beers. That's the realest test.

jam25mack

I've seen them both but I'm expecting you are referring to the Jacobs one.... and yeah mega cheese!

scrubbedexpat141

Ah, I'd only seen a yank with a Greek surname. Whoever's CEO that is....

You're not Ch through and through though are you? You're another taken over old British firm, right?

TheShed

Back on topic.

As you know I work in O&G on the marketing and trading side. Just this week I’ve said goodbye to 9 traders who are relocating. At a buck a ton margin the model just doesn’t work any more.

Indian traders are bringing in more staff to fill out the tenders which seems to be the new model.

Total body count from my friends list now goes over 100 people left since Nov 2014.

I’m just negotiating to move to a new role in SG in October as there’s nothing much here for me now .

Millhouse

Love Singapore. Quite jealous, although it's a bit tough there too - they have been hit hard by the Chinese slowdown.

Miss Ann Thrope

Me too: i'm just too stingy to go there very often even though we get a 20% discount at our office local branch for being in an adjacent building.

Dubaiexile

I think Taqado is overated, stingy portions that have been diminishing week by week, stopped using them now!
Thinking about chartering a cargo aircraft to be positioned in Oman to ferry stuff to Qatar, anyone got any cargo they need shifting BE discounts available!!!!

Brains1983

You can charter from the UAE. It's just passenger flights that are the problem