Anyone recognise this country?
 

IMF Staff Completes 2017 Article IV Mission to the United Arab Emirates
:unsure:

Re: Anyone recognise this country?
 

Fascinating.

Even the IMF believe the Expo hype.

Re: Anyone recognise this country?
 

The IMF would never say otherwise.

What I find interesting is that some sectors of the economy are doing very well. It's just they do not translate to actual jobs or a feeling that things are doing well.

Let's also not forget that the IMF would have been fed questionable data.

Re: Anyone recognise this country?
 

Tongue firmly in helmet.

Dubai's the weirdest I've known it. Busy busy busy but also not and people being punted all over.

Very strange.

Re: Anyone recognise this country?
 

I think if you read carefully there are quite a few barbs concealed in the IMF report...

Re: Anyone recognise this country?
 

Its reminding me of 2007.
Certain sectors are doing very well, others are apocalyptic.
I had another mate laid off this morning, he thought he'd survived the oil and gas purge, apparently not and I must know about half a dozen long term expats bailing this summer, combination of cost of living and the distinct feeling we've been here before.

Re: Anyone recognise this country?
 

Cost of living is a new but valid reason for some leaving.

Re: Anyone recognise this country?
 

VAT is not going to help that!

Re: Anyone recognise this country?
 

No, I suppose not.

BUT - the Mrs just got an extra 5% on housing allowance and I'm in the middle of a pay review. :fingerscrossed:

Re: Anyone recognise this country?
 

It feels very 2008 down our way.

Two of our oldest friends are leaving. One, the project ended and the other hadn't seen his boss for 5 months, felt frustrated, so resigned. His team then resigned too. Interestingly he was offered a job in China for a big player but they couldn't make the numbers work so has chosen to 'retire' and become a consultant - back to the UAE! They will live in Europe and he will flit over when needed.

Other than that FB is full of leaving sales and Crown say they are inundated with few bookings for new arrivals.

Yet LinkedIn is full of jobs, some even don't specify UAE national only. There is a fair big of rejigging going on and we live in interesting times.

Re: Anyone recognise this country?
 

World Skills is being held in Abu Dahbi in October, goes without saying that finding native talent has been fruitless.
That potential loss of face on the world stage has repercussions and moves are afoot to redress the balance... though prolly not in our lifetime :D

Re: Anyone recognise this country?
 

I heard a rumour that even a former Bored member, The Dean, may be relocating back home........ :o

Re: Anyone recognise this country?
 

You're him aren't you?



We're offering jobs to people but generally they're taking the same cash. If they're at risk or even slightly concerned we're securing them for slightly less, more often than not.

Critical / hard to source roles still get increases but not much.

Re: Anyone recognise this country?
 

We are not that busy. Companies are not investing or expanding and hence are not requiring new money.

Local private equity money is busy looking for deals in India, and Africa. Very deal regional deals are happening. People are asset managing ... which normally means sorting out the bad shit. KSA is showing some hope, but we are still at the hope stage.

Re: Anyone recognise this country?
 

They are getting the last drips of milk from the cow before it dies.