Inflation Inflation! EK what to expect?
Join Date: Feb 2007
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Anyone who cannot see that employment at EK simply results in a declining earning power is delusional....
You come here as a lower class pilot, meaning that as inflation does not affect the upper class, the lower one can take the cut or leave.
Join Date: Feb 2008
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For Fark's sake
Just got back from Choithrams on Al Wasl. Planned a barbie tonight as currently enjoying one of the two or three weeks of the entire year that the weather isn't complete crap and fillet steak has risen from 79.95dhs/kg last time I bought it (which wasn't long ago) to 105dhs/kg. More than 30% increase. We MUST get a pay rise of 20-30% minimum or it just IS NOT worth staying.
Join Date: Jul 2004
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Rampstalker!!!!
You still have not responded with an explanation!
You "STATED" that you and others are still waiting for payment of the provident fund.
Are you prepared to back this up, or are you just another MUCK stirrer.
I am very happy here, and I don't like ******* like you!
Speak up or shut up!
You "STATED" that you and others are still waiting for payment of the provident fund.
Are you prepared to back this up, or are you just another MUCK stirrer.
I am very happy here, and I don't like ******* like you!
Speak up or shut up!
Join Date: Oct 2007
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Reuters:
ABU DHABI - Inflation in the UAE probably hit 10.9 percent in 2007, the National Bank of Abu Dhabi (NBAD) said, revising up its forecast for price rises by almost three percentage points on rising rents.
Inflation is rising rapidly across the world's top oil-exporting region, where economies are surging on a near five-fold rise in oil prices since 2002. UAE inflation hit a 19-year peak of 9.3 percent in 2006, according to official data.
"Indicators continue to point to unabated inflation," - NBAD
"I am very happy here " From Red baron
Must have a shallow background........ I can maybe imagine some people here being happy but not Very happy as you put it...
Dubai is a ridiculous place to live . The job is fine when your out flying but i wish the management wouldnt screw with our rosters.
Im not saving any money here as a family and think I may as well go home and not save anything , will i get my provident fund and will they pay it in your own currency as a check in Dirhams may as well get stuck on the wall or binned.
Must have a shallow background........ I can maybe imagine some people here being happy but not Very happy as you put it...
Dubai is a ridiculous place to live . The job is fine when your out flying but i wish the management wouldnt screw with our rosters.
Im not saving any money here as a family and think I may as well go home and not save anything , will i get my provident fund and will they pay it in your own currency as a check in Dirhams may as well get stuck on the wall or binned.
Join Date: Nov 2003
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Two of a few posts from "The Real Pink Baron":
"OWW That hurts,
Sorry got to nip down to the 7/11 to get some more KY!
Why don't we all ring up these people (AAR,TCAS,ED,ETC) on their home numbers (from public phones) at 0200- 0500 and just say " Good morning this is your lazy pilot".
After about two weeks of this we will see if they change their attitude
Can someone please provide a list of home phone numbers?"
--------------------------------------------------------------------------------
"Please do!
This could make a huge difference to lots of leaving dates!
We are already being sk****d by changing T&C without having to worry about this!
27th February 2008 22:43"
Yep, you seem quite happy here.....
"OWW That hurts,
Sorry got to nip down to the 7/11 to get some more KY!
Why don't we all ring up these people (AAR,TCAS,ED,ETC) on their home numbers (from public phones) at 0200- 0500 and just say " Good morning this is your lazy pilot".
After about two weeks of this we will see if they change their attitude
Can someone please provide a list of home phone numbers?"
--------------------------------------------------------------------------------
"Please do!
This could make a huge difference to lots of leaving dates!
We are already being sk****d by changing T&C without having to worry about this!
27th February 2008 22:43"
Yep, you seem quite happy here.....
Join Date: Jun 2000
Location: UK
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03 March 2008 - Business 24/7
"UAE workers are the least satisfied with their salaries compared to their peers in the other GCC countries, a study has revealed.
Growing inflation was found to have pushed the increase in cost of living out of proportion to the pay rises in the UAE and the GCC as a whole during 2007, according to the Regional Human Resource Overview report.
In the UAE, the average cost of living grew by 37 per cent compared to a 17 per cent rise in overall salary levels. This was only beaten by Qatar, where living costs increased by 38 per cent as opposed to a 16 per cent growth in pay. Average salaries rose in the 12 to 17 per cent range for the GCC while average cost of living increases registered in the range of 27 to 38 per cent."
Full article at
http://www.business24-7.ae/cs/articl...eadlineID=3207
Do you think we will get a 27 to 38 percent payrise this year?
That would simply put us back where we were last year anyway.
"UAE workers are the least satisfied with their salaries compared to their peers in the other GCC countries, a study has revealed.
Growing inflation was found to have pushed the increase in cost of living out of proportion to the pay rises in the UAE and the GCC as a whole during 2007, according to the Regional Human Resource Overview report.
In the UAE, the average cost of living grew by 37 per cent compared to a 17 per cent rise in overall salary levels. This was only beaten by Qatar, where living costs increased by 38 per cent as opposed to a 16 per cent growth in pay. Average salaries rose in the 12 to 17 per cent range for the GCC while average cost of living increases registered in the range of 27 to 38 per cent."
Full article at
http://www.business24-7.ae/cs/articl...eadlineID=3207
Do you think we will get a 27 to 38 percent payrise this year?
That would simply put us back where we were last year anyway.
Join Date: Mar 2004
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Oman hikes state workers' wages by 43% - Reuters
Saudi raises wages, subsidies as inflation soars - Business24/7
This is what it actually needs to bring our salaries back to where they were. The chances of this happening of course range from non existant to zero.
We are in for a very thrifty 2008 and frankly I doubt Emirates will ever catch up ever again. The slide will continue until one leaves for greener pastures.
Saudi raises wages, subsidies as inflation soars - Business24/7
This is what it actually needs to bring our salaries back to where they were. The chances of this happening of course range from non existant to zero.
We are in for a very thrifty 2008 and frankly I doubt Emirates will ever catch up ever again. The slide will continue until one leaves for greener pastures.
Join Date: Apr 2005
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Just ordered a Chinese Take-Away from a well known joint in Al Barsha: 25% increase. Will have to take a look at the 10 Dhs all-you-can-eat in Al Quoz, problem is they have probably hiked it to 20!
The big price rises seem to have occurred since the beginning of this year. It looks as if the local suppliers have suddenly given up trying to keep the prices down. A lot of this price pressure has been surely caused by the 70% hike in Public Sector salaries. I'm told that the waiting list for all the top end vehicles stretches into the end of this year. All the senior military officers are placing their orders.
The big price rises seem to have occurred since the beginning of this year. It looks as if the local suppliers have suddenly given up trying to keep the prices down. A lot of this price pressure has been surely caused by the 70% hike in Public Sector salaries. I'm told that the waiting list for all the top end vehicles stretches into the end of this year. All the senior military officers are placing their orders.
Join Date: Oct 2007
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The Dirham has dropped further in recent days. The effect of that will take a few months to permeate the system.
It can only get worse and there is no immediate sign of any improvement. But humans adapt well. Take stock in 4 months and you will observe multiple sacrifices made to maintain status quo.
The frog eventually boils in the pot.
It can only get worse and there is no immediate sign of any improvement. But humans adapt well. Take stock in 4 months and you will observe multiple sacrifices made to maintain status quo.
The frog eventually boils in the pot.
Join Date: Mar 2004
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"UAE inflation will accelerate to 10.1% this year"
This headline started this thread. Since then the figure has been revised to 10.4 then 10.9.
Independent reputable economists have made estimates in the 12-13% region.
The 10.9% figure is held artificially low as it relates to Emirates Nationals rather than expats. They get certain alleviations on cost of living which expats indirectly pay for. Hence the independent higher figure calculated by the same standards.
The final figures will be higher and are climbing daily. With the Fed predicted to cut rates by a further 0.75%, the situation can only get worse. Inflation on foodstuffs will maintain their level over 30%.
We are at a position where bi-annual salary reviews are in order.
This headline started this thread. Since then the figure has been revised to 10.4 then 10.9.
Independent reputable economists have made estimates in the 12-13% region.
The 10.9% figure is held artificially low as it relates to Emirates Nationals rather than expats. They get certain alleviations on cost of living which expats indirectly pay for. Hence the independent higher figure calculated by the same standards.
The final figures will be higher and are climbing daily. With the Fed predicted to cut rates by a further 0.75%, the situation can only get worse. Inflation on foodstuffs will maintain their level over 30%.
We are at a position where bi-annual salary reviews are in order.
Join Date: Oct 2007
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Nice thought Disco but the further between pay reviews the better for EK. They have a whole year at discount then play catch up to the previous years inflation figures at best. By then we have moved on and another year behind the drag curve which is only getting steeper by the day.
Bi-annual pay reviews is a great fantasy. If they did anything the preference would be for reviews every 2 years. In a marginal inflational environment that might even make sense from a admin point of view.
Take the extremes: 0% inflation means no urgency for comparison. Marginal increases for years of service, the only issue. In a 1000% environment, weekly reviews required or no workforce by year end. The higher the inflation the more frequent the reviews required.
Rumour has it that EK HR is woefully behind in salary comparisons and are getting quite a few rude shocks in the sub-continent where offers are actually getting rejected. We will never see the stats on job offer rejections for the company as a whole, but those empty or hastily filled transition course places are some indication.
Bi-annual pay reviews is a great fantasy. If they did anything the preference would be for reviews every 2 years. In a marginal inflational environment that might even make sense from a admin point of view.
Take the extremes: 0% inflation means no urgency for comparison. Marginal increases for years of service, the only issue. In a 1000% environment, weekly reviews required or no workforce by year end. The higher the inflation the more frequent the reviews required.
Rumour has it that EK HR is woefully behind in salary comparisons and are getting quite a few rude shocks in the sub-continent where offers are actually getting rejected. We will never see the stats on job offer rejections for the company as a whole, but those empty or hastily filled transition course places are some indication.
Join Date: May 2005
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Ouch
This little gem just in. Probably a bit alarmist but even if half true it is cause for concern. Especially if articles like this are getting official sanction in a generally censored and "good news only" environment.
http://www.gulfnews.com/business/Com.../10194903.html
Food price inflation in UAE could hit 40%
By Ahmed A. Elewa, Senior Reporter
Published: March 05, 2008, 00:37
Abu Dhabi: Food price inflation in the UAE could rise up to 40 per cent this year from the already high 27 per cent, a top official said.
"The inflation rate of food prices in the UAE was between 27 and 30 per cent in 2007, according to a survey concluded by Emirates Consumer Protection Society (ECPS). This figure can rise to 40 per cent in 2008, unless strong government intervention takes place by introducing a basket of efficient measures," Dr Jamal Al Saeidi, director of ECPS, said. He demanded increased government subsidies on fuel.
http://www.gulfnews.com/business/Com.../10194903.html
Food price inflation in UAE could hit 40%
By Ahmed A. Elewa, Senior Reporter
Published: March 05, 2008, 00:37
Abu Dhabi: Food price inflation in the UAE could rise up to 40 per cent this year from the already high 27 per cent, a top official said.
"The inflation rate of food prices in the UAE was between 27 and 30 per cent in 2007, according to a survey concluded by Emirates Consumer Protection Society (ECPS). This figure can rise to 40 per cent in 2008, unless strong government intervention takes place by introducing a basket of efficient measures," Dr Jamal Al Saeidi, director of ECPS, said. He demanded increased government subsidies on fuel.
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Its not alarmist. Simply the truth.
Statistics for 2008 will show around 40% in this year due dirham decline combined with accelerating inflation. Countries battle to keep inflation below 4% at most otherwise the inflation spiral takes off. It has here and the genie is out the bottle. Its very difficult to get it back!
Assuming radical measures are taken right now it will take a few years to wind these levels back. But no measures have been taken and the dirham continues down. This may well be what finally brings the boom to an end.
Again anyone taking up employment in the UAE needs to be very careful.
Statistics for 2008 will show around 40% in this year due dirham decline combined with accelerating inflation. Countries battle to keep inflation below 4% at most otherwise the inflation spiral takes off. It has here and the genie is out the bottle. Its very difficult to get it back!
Assuming radical measures are taken right now it will take a few years to wind these levels back. But no measures have been taken and the dirham continues down. This may well be what finally brings the boom to an end.
Again anyone taking up employment in the UAE needs to be very careful.
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Why did the government employes get 70% payraise this year? Because the government of Dubai tought it was fair.
50% was not enough, 90% was too much, 70%.....Fair...
Governments don't have a reputation of being over-generous with public sectors employes. In fact, the private sector normally gets more...
Tells you how bad inflation is here.
50% was not enough, 90% was too much, 70%.....Fair...
Governments don't have a reputation of being over-generous with public sectors employes. In fact, the private sector normally gets more...
Tells you how bad inflation is here.