From emptied accounts to fraudulent credit card charges, customers reportedly face blame and recovery agents — instead of solutions
Tim Fox, chief economist of Emirates National Bank of Dubai Capital was cautious about optimistic indicators.
“Not green shoots,” Fox said, alluding to a comment by British government economist Baroness Vadera that she could see the ‘green shoots’ of economic recovery. The comment brought controversy when opposition politicians said it proved Vadera was out of touch with people feeling the effects of recession. “Straws in the wind,” Fox said.
Protectionism, lack of participation from the private sector and slumping industrial production all indicate problems will continue through this year despite the modest growth in emerging markets.
Fox said issues of protectionism were raised in the first week of the new
Measures like government stimulus plans are worrisome, he said, because the private sector is not investing in the same way. “I’m concerned that as we go forward the private sector would be crowded out by the governments.” In the longterm, he said, recovery will be weak if this continues.
Waning demand has slowed industrial production. Only
“If you’d like the good news, and this is probably the only bit of good news that I’m going to have,” Ahmed warned the panel and audience. “We’ve come back from the brink of financial crisis.” He said the crisis peaked when the
“While we are back from the brink of collapse we are still in a systemically high risk,” Ahmed said. Ahmed said countries with current account surpluses, such as oil-producing
“The markets are distinguishing between those countries that entered with a relatively strong fiscal and current account position and the countries that had a large current account deficit.”
Despite the gloom, figures from the IMF show growth of 3 per cent by 2010.
From emptied accounts to fraudulent credit card charges, customers reportedly face blame and recovery agents — instead of solutions
Overall, today's weather is expected to be clear and partly cloudy at times
Influx of international stock led to an oversupply in the market, wiping out any chance of turning a profit
With the large-scale usage of social media, online bullying has become widespread in educational settings, particularly in schools
Ahmad Al Hafiti was invited by the late Sheikh Zayed to his farm, in 1997, while studying in London
KT visits a school transport provider’s operations hub to know how it ensures safe and smooth bus rides for students every day
Supermodel-turned-singer Bruni, who will debut at Dubai Opera on September 27, on what inspires her songs, and the influence of
BBC cameraman Peter Henderson on the Eat-2-Grow Food enterprise, which aims to empower people in war-torn zones