Inflation Inflation! EK what to expect?
Join Date: Mar 2006
Location: Dubai
Posts: 76
Likes: 0
Received 0 Likes
on
0 Posts
Plus this one from the Arabian Business. It goes back a few months, but is applicable now.
Wages 'just one issue' for UAE
by Joel Bowman on Thursday, 22 November 2007
Debate over the decision by the UAE government to grant employees a massive pay raise represents just one facet of the natural uncertainty of an emerging economy in its infancy, according to one presenter at the DIFC Week conference in Dubai.
The government of the UAE yesterday announced a 70% increase for government employees as part of its 2008 budget in an effort to combat inflationary pressure on low- and middle-income families.
At $9.5 billion (34.9 billion dirhams) the federal government's budget is the largest ever and represents the biggest increase year-over-year, up 20% from the 2007 number.
SM
Wages 'just one issue' for UAE
by Joel Bowman on Thursday, 22 November 2007
Debate over the decision by the UAE government to grant employees a massive pay raise represents just one facet of the natural uncertainty of an emerging economy in its infancy, according to one presenter at the DIFC Week conference in Dubai.
The government of the UAE yesterday announced a 70% increase for government employees as part of its 2008 budget in an effort to combat inflationary pressure on low- and middle-income families.
At $9.5 billion (34.9 billion dirhams) the federal government's budget is the largest ever and represents the biggest increase year-over-year, up 20% from the 2007 number.
SM
Join Date: Sep 2005
Location: Europe
Posts: 327
Likes: 0
Received 0 Likes
on
0 Posts
Indeed. I can't believe the headline in the GN today. 
This is another slap in the face of most expats and workers over here.
well...I guess the locals are the ones who need it the most after their 70 percent pay rise...
I guess this is their own version of helping the poor out there.....
This is another slap in the face of most expats and workers over here.
well...I guess the locals are the ones who need it the most after their 70 percent pay rise...
I guess this is their own version of helping the poor out there.....
Join Date: Oct 2007
Location: United Kingdom
Posts: 66
Likes: 0
Received 0 Likes
on
0 Posts
Dollar and Dirham continue to set record lows
Oil at record highs
Inflation at record highs for Dubai
Now Abu Dhabi is setting records for most vehicles involved in a traffic accident.
Bigger, better, faster (especially on the roads) and taller.
We have it all! - Come and join the fun!
Oil at record highs
Inflation at record highs for Dubai
Now Abu Dhabi is setting records for most vehicles involved in a traffic accident.
Bigger, better, faster (especially on the roads) and taller.
We have it all! - Come and join the fun!
Well the locals need cheap fuel , has anybody got the fuel flows for a ferrari and a hummer. they should all get ID 90 travel on Emirates I mean its there airline.
I just hope the local pilots set up a table of cheap food at the CBC for the poor people flying their slave ships.
I just hope the local pilots set up a table of cheap food at the CBC for the poor people flying their slave ships.
Join Date: Apr 2003
Location: Crawley, Surrey
Posts: 92
Likes: 0
Received 0 Likes
on
0 Posts
Looking at this from the other side of the coin, imagine if our respective governments could give us a 70 % payrise and subsidies on certain items. Man, l don't know where u guys are from but you don't see that a lot these days if not never. So from the local perspective they are looking after their people like any responsible govt would. Call it whatever you like l wouldn't give a rat's behind if the expats in my country didn't get enough to get by. Moreso if they where the majority. Inflation in the UAE is just our problem as expats which we can moan about in the paper or on Pprune. Honestly expecting our "hosts" to do something about it when they are still flooded by blue eyed job seekers is a bit far fetched. When it suits them a respectible payrise will be in order.........and as far as l can see it will be the usual bits and bobs each year just to keep people working.
Yes, the media will say people are leaving the Sandpit but number is still minute to cause any improvement in the salaries.
At this moment l wish l was an Emarati............
Yes, the media will say people are leaving the Sandpit but number is still minute to cause any improvement in the salaries.
At this moment l wish l was an Emarati............
Join Date: Oct 2007
Location: United Kingdom
Posts: 66
Likes: 0
Received 0 Likes
on
0 Posts
McGreaser you make a point but I thought the general consensus was that discrimination was not conduct becoming of gentlemen.
If the world decided that suddenly it was, who would be the ultimate losers?
I think looking after your citizens is admirable but where does the line get drawn? If it is continually relaxed in every facet of life it would ultimately result in anarchy by citizens without any notion of responsibility towards others.
Oh I forgot...history taught us just that...hence we decided it was conduct unbecoming. I believe the process is known as civilisation....
If the world decided that suddenly it was, who would be the ultimate losers?
I think looking after your citizens is admirable but where does the line get drawn? If it is continually relaxed in every facet of life it would ultimately result in anarchy by citizens without any notion of responsibility towards others.
Oh I forgot...history taught us just that...hence we decided it was conduct unbecoming. I believe the process is known as civilisation....
Join Date: Sep 2005
Location: Europe
Posts: 327
Likes: 0
Received 0 Likes
on
0 Posts
McGreaser,
You completely miss the point here. Remember that it was their idea to build a mega monster project in the middle of nowhere. Without the expats and workers they would still be riding their camels.
What they do is discrimination and some might call it racism.
From where I come, government programs are not related to nationality nor skin color. They are targeted to the ones who need it the most...
I do not consider myself in that category but I can assure you that the last group who need it are the locals over here.
After being here for a considerable time, most of us are still in disbelieve over all the practises over here...other good suggestions for them : VAT for non-emirati? Income tax for expats... bring it on...
interesting to see what will happen the next few years...seems to me like a big house of cards in a way...
You completely miss the point here. Remember that it was their idea to build a mega monster project in the middle of nowhere. Without the expats and workers they would still be riding their camels.
What they do is discrimination and some might call it racism.
From where I come, government programs are not related to nationality nor skin color. They are targeted to the ones who need it the most...
I do not consider myself in that category but I can assure you that the last group who need it are the locals over here.
After being here for a considerable time, most of us are still in disbelieve over all the practises over here...other good suggestions for them : VAT for non-emirati? Income tax for expats... bring it on...
interesting to see what will happen the next few years...seems to me like a big house of cards in a way...
Join Date: Feb 2007
Location: i don't know
Posts: 320
Likes: 0
Received 0 Likes
on
0 Posts
McGreaser
Imagine for a second a country like ********* (set in any one to your liking, i.e. Denmark, Israel etc. etc.) giving subsidies on basic foods only to nationals, leaving out non nationals like ******** (set in any group to your liking, i.e. asylum seekers, Palestinians etc. etc.).
Now picture the uproar in this region and the words chosen for such a behavior. And rightfully so.
It seems though that concerning basic foods they will do it through cooperatives where any resident can go and buy. That would be the way to go, allthough i still think that by subsidising stuff you only fight the symptom and not the root of inflation.
Imagine for a second a country like ********* (set in any one to your liking, i.e. Denmark, Israel etc. etc.) giving subsidies on basic foods only to nationals, leaving out non nationals like ******** (set in any group to your liking, i.e. asylum seekers, Palestinians etc. etc.).
Now picture the uproar in this region and the words chosen for such a behavior. And rightfully so.
It seems though that concerning basic foods they will do it through cooperatives where any resident can go and buy. That would be the way to go, allthough i still think that by subsidising stuff you only fight the symptom and not the root of inflation.
Last edited by GMDS; 13th Mar 2008 at 13:01. Reason: spelling
Join Date: Feb 2008
Location: Tent in the Desert
Posts: 43
Likes: 0
Received 0 Likes
on
0 Posts
The Govt. has ordered the price freeze on 16 basic food items at 2007 values available at certain stores in an attempt to curb inflation.
Also, cement and steel is exempt from customs duty to try and reduce pricing pressures on the building industry.
Something is being done, but a nice big fat salary increase would be even better to deal with all this.
Also, cement and steel is exempt from customs duty to try and reduce pricing pressures on the building industry.
Something is being done, but a nice big fat salary increase would be even better to deal with all this.
Join Date: Mar 2004
Location: UK
Posts: 165
Likes: 0
Received 0 Likes
on
0 Posts
Gold hits $ 1000 per ounce
Oil at $110 per barrel
Euro at 1.56
$200 billion pumped into a market that continues to fall.
Anyone not convinced that the inflation in the UAE is only just beginning is in denial. Either they unpeg or they collapse.
Until they decide, they have made it quite clear who will pick up the tab. To resort to such overt discrimination shows the level of fear and who will be sacrificed as certain asset classes collapse.
Still looking for a job paid in USD or Dirhams? You need your head examined.
Oil at $110 per barrel
Euro at 1.56
$200 billion pumped into a market that continues to fall.
Anyone not convinced that the inflation in the UAE is only just beginning is in denial. Either they unpeg or they collapse.
Until they decide, they have made it quite clear who will pick up the tab. To resort to such overt discrimination shows the level of fear and who will be sacrificed as certain asset classes collapse.
Still looking for a job paid in USD or Dirhams? You need your head examined.
Join Date: Apr 2007
Location: The Heavens
Posts: 144
Likes: 0
Received 0 Likes
on
0 Posts
Keeping food prices at 2007 levels has to be paid for by someone if not the consumer. If the co-ops recieve subsidies then this is pro inflationary by putting more money into the system. If the co-ops wear the costs then expect the quality of product to fall. (Zimbabwe did the same thing...). Dropping the import duties on cement and steel allows the construction companies to maintain their margins, the money stays with them instead of the government, it is still in the money supply system therefor no change to inflation, just the price of cement and steel. (Who owns the construction companies??) 70% pay rise to 'selected' workers and food cards...all these measures mentioned are not designed to combat inflation. Less money spent on food leaves more money left over for big screen TVs etc, pro inflationary spending as the money is still in the system. There have been no measures announced to combat inflation, only measures to keep the locals happy so they don't get restless. This quite clearly indicates the intentions of the authorities towards those it needs to keep happy and those it doesn't need to care about...
Join Date: Aug 2007
Location: MEL
Age: 55
Posts: 131
Likes: 0
Received 0 Likes
on
0 Posts
It is quite stupid for ANY ruler ANYWHERE not to look after the majority of people under his/its protection.
Be they from here or from the otherside of the globe. They are still the bulk of the people, without which the castle walls will crumble.
It IS blatant discrimination based on nationality - and it sucks!
Be they from here or from the otherside of the globe. They are still the bulk of the people, without which the castle walls will crumble.
It IS blatant discrimination based on nationality - and it sucks!
Join Date: Mar 2004
Location: UK
Posts: 165
Likes: 0
Received 0 Likes
on
0 Posts
CNN:
Gold hit $1,000 an ounce for the first time ever Thursday morning. Oil is slouching towards $111 a barrel. And the dollar hit a 12-year low against the yen and a new record low against the euro. Can you say inflation?
Actually, it's worse than mere inflation. The combination of rising commodity prices and the weakening growth forecast for the economy has people worried about 1970s style stagflation. I hope Bernanke can dig up a pair of old bell bottom pants. Do the hustle!
Gold hit $1,000 an ounce for the first time ever Thursday morning. Oil is slouching towards $111 a barrel. And the dollar hit a 12-year low against the yen and a new record low against the euro. Can you say inflation?
Actually, it's worse than mere inflation. The combination of rising commodity prices and the weakening growth forecast for the economy has people worried about 1970s style stagflation. I hope Bernanke can dig up a pair of old bell bottom pants. Do the hustle!
Thread Starter
Join Date: Mar 2005
Location: Dubai
Posts: 278
Likes: 0
Received 0 Likes
on
0 Posts
Stop the girly fighting PLEASE and stick to Thread.
Here are some fact about inflation:
http://www.business24-7.ae/cs/articl...eadlineID=3943
The cost of power generation is set to shoot up by at least 100 per cent in the next two years making electricity an even more expensive commodity, industry sources told Emirates Business.
Join Date: Jan 2002
Location: West Country
Posts: 1,271
Likes: 0
Received 0 Likes
on
0 Posts
The cost of power generation is set to shoot up by at least 100 per cent in the next two years making electricity an even more expensive commodity
Join Date: Nov 2003
Location: Canada
Posts: 121
Likes: 0
Received 0 Likes
on
0 Posts
Jet II
It still doesn't make it fair.
Oh yeah, I should be happy to pay 1000 dollars for a slice of bread, it's cheaper than on the moon!
Jet, nobody is happy with 20% inflation, specially when salaries don't follow.
Always compare your situation to the worst!!!! Come on.
It still doesn't make it fair.
Oh yeah, I should be happy to pay 1000 dollars for a slice of bread, it's cheaper than on the moon!
Jet, nobody is happy with 20% inflation, specially when salaries don't follow.
Always compare your situation to the worst!!!! Come on.
Join Date: Jul 1999
Location: Stockholm / Sweden
Age: 48
Posts: 125
Likes: 0
Received 0 Likes
on
0 Posts
@ LR 3 - Spot on, mate!
"So, yes they(the locals)may get paid more then you and yes that is racism but one day you will be able to leave this stinking pile of crap and go home to your beautiful country and leave this hole to the people that deserve it.
Don't worry about what others are making.
Just worry about yourselves and plan for your escape one day"
Yeeep - that's it - property sold already, SUV wiil be advertised @ spinneys soon - i leave this crappy place asap. to the camel-sha**ers!
"So, yes they(the locals)may get paid more then you and yes that is racism but one day you will be able to leave this stinking pile of crap and go home to your beautiful country and leave this hole to the people that deserve it.
Don't worry about what others are making.
Just worry about yourselves and plan for your escape one day"
Yeeep - that's it - property sold already, SUV wiil be advertised @ spinneys soon - i leave this crappy place asap. to the camel-sha**ers!
Join Date: Feb 2007
Location: i don't know
Posts: 320
Likes: 0
Received 0 Likes
on
0 Posts
Very sound conclusion SNAM, staying is better than getting stuck in the sandpit right now.
No way, at least in the mid term.
Well, it might have been so. The aircraft and destinations are still nice. But we're now more often than not confined in a torpedo tube 70 meters away from the cockpit and 300+ "nice"passengers in between, toilets always occupied and you can't even SIT!!!!!! .....
and the layovers are just that -> lay completely shattered to overcome ridiculous sleep patterns and advice from the company that makes any medically trained shiver ....
Again, sound decision not to get stuck in this outfit (which could still be great with just a teeny little bit of effort from above)
but maybe things will revert and go the opposite direction... who knows.
Unless the flying experience (in EK or even EY) is really that interesting/valuable from a professional point of view...
and the layovers are just that -> lay completely shattered to overcome ridiculous sleep patterns and advice from the company that makes any medically trained shiver ....
Again, sound decision not to get stuck in this outfit (which could still be great with just a teeny little bit of effort from above)
Thread Starter
Join Date: Mar 2005
Location: Dubai
Posts: 278
Likes: 0
Received 0 Likes
on
0 Posts
Give me a pay raise that follows inflation please!
UAE transport firms have called for government action over skyrocketing diesel prices, which have increased by 175% in the past three years, it was reported Tuesday.
175% pay increase would be nice... if they can do it why can't we? Afterall we provide the services... they have to pay for it
Keep discovering!
