|
The Dollar is showing some signs of stabilisation due to radical movements by the Fed to save the markets and economy collapsing completely. The USD came very close to a meltdown on Monday.
However from the point of view of inflation, this means very little. Prices have risen and will not go down. It is now built in and the 2008 inflation figures for the UAE will be much higher than the 11% of 2007 regardless of the dollar movement from hereon. Are we going to see an increase in salary of around 30% to account for this and bring our salaries back to a neutral level of a year ago? I doubt it. Recession is here, times are hard and airlines will feel it. EK is counting on continued low cost recruitment and will minimise the salary increase based on this possibility. With oil at the current levels they will have to provision for recovery of this cost in the next financial year. This is the burden that we will be made to bear. |
Dollar recovery over. Euro back at 1.58
The Fed is running out of options. They are powerless to prevent the inevitable and are resorting to lies and "optimism". Inflation and decreasing salaries are here to stay. |
but not me...
|
?????
Furbpilot............
where are you going????? I was thinking to open a shisha bar somewhere in calabria............... :p Flare |
It is just like in argentina were inflation is 20/25 percent and the gob try to make me belive that we have an inflation of 8 percent. :mad::mad::mad::mad::mad::ugh::ugh::ugh::ugh::(:(:(:(:(
|
Where I'm going....?...mhhhh... shisha bar.... Calabria...where is it? Me from India...what about Mumbai?
|
cost of living
Seeing the $ going into an unstopable downturn I wonder about the cost of living in DXB.
A familiy of 3, 2 adults + one baby approx 1year when coming to DXB. I ve been to DXB last in 10/06 and still found prices for food very fair compared to here (germany) What costs do I have to expect these days for food, EPC, Gas and s.o. I know it all depends on the choosen lifestyle. I would appreciate any Information or hints on this topic, as the $ turns out to be one of the biggest issues for an european coming to Dubai. Thx in advance |
Cityliner are you blind??
Check out the thread on Inflation. And think very carefully before coming... |
Kraut to Kraut
@ Cityliner
Been here for the best part of a decade and the bang for the buck still checks out. A kilo of Argie-steak in the supermarket is still half the price compared to Germanistan. A taxi ride a fifth. Same for gas. Besides, moving heavy metal for Sheikh Ahmed beats riding CRJs for CLH. Lass Dich von den Heulsusen hier nicht ins Bockshorn jagen. Die haben ihre eigene Agenda. Je weniger Leute anheuern, desto hoeher der Markwert der Anwesenden. |
Bockshorn hunting
Ciao SNAM, i used google to translate, this is the result:
Do the crybaby here is not to Bockshorn hunting. They have their own agenda. The less people hired, The higher the market value of those present. ciao bubi |
and there are people who say that one day online translators will revolutionize the way the world does business. Second part is almost correct. First part does not have a direct English meaning. Losely translated: Don't let the crybabies send you into a dead end.
|
Cityliner, just come and find out.
And, if things don't turn the right way for you here. You will know who's face to break. zi grass zalwayz lookz greener in ze neiberz backyaaaard. Shuuuuuuusss. |
Cityliner,
Prices over here in the mean time close to the prices in Germany. Veg. might be a bit cheaper if you buy local stuff. The thing that frustrates me the most is that most of the vegetable stuff has no flavor. Don't know why. Ooh yeah : meat. Forget your bratwurst. Pork is so expensive over here. I think 50% more than in Germany. Gas still cheap compared to EU-Land (controlled by government). Most cars cheaper over here ( there is no VAT, so that is the difference I think). And... there is no such thing as Lidl, Aldi or Metro over here. NO COMPETITION on prices. At times frustrating. But I understand your reasoning. If you're flying cityline and you did not pass LH DLR test, coming here might be the only chance of getting heavy time. If you did pass it then you must be joking that you are considering coming over here. (I do know the conditions at LH). Not so many Germans here with EK (a lot more at EY). Don't know why. With the dollar woes I must conclude they are very clever.... |
Looks like there is inflation here
Well it is so bad now that even the violence level is going upward. I can feel it with people every day. Streets, shopping malls, roads, bank everywhere you go you feel it. People are more intense, more aggressive, they feel the pressure of being trapped here with nowhere to go since they left what they had builded for years in their home country to come here for an opportunity to make money. The reality is that they end up in the same or worst situation then back home with the hurdle to be stuck in this place. I have to say that in the last year i felt it too. This place is not what it used to be and the worst is that it is not improving. On the contrary i feel it is going the wrong way big time.
http://www.arabianbusiness.com/51554...tions-security "Inflation has affected many expatriates, consumers and traders," he said. "There have been cases of violence and this affects our security." |
Originally Posted by ekpilot
(Post 4032408)
Well it is so bad now that even the violence level is going upward. I can feel it with people every day.
i've never seen any violence here and even if it is going up it is still infinitesimally less than where I came from (UK) so everything is relative :ok: |
Comparing to something worst may make you feel better, but it doesn't make EKpilot statement invalid!
Fact is a fact. More violence, yes! Less than in other places, yes.... But still increasing violence! Good or bad? depends how deep your head is in the sand. |
Sorry to disappoint you but my head ain't in the sand or up my ar*e.
And what 'facts' are these? if you think the UAE is a violent country then I humbly suggest you get your head out of the sand. |
UAE is not violent. Compared to USA , europe, even Canada. I lived there for 14 years....no knifes no guns, no ppl smoking pot in the corners, no drunkness in public, etc etc I live in Canada right now, and I have to say that i have seen some very very disturbing things. I live in an expensive/rich neighbourhood btw. My car's stereo got stolen PARKED ON MY DRIVEWAY!
Ive had to call the cops a couple of times b.c of kids smoking pot roaming up and down my street:= At least not as violent or even close to other (developed) parts of the world dbl |
Please read the Arabian Business article
Guys i'm saying that the tensions are building. Not saying there is war out there and that it is unsafe. Read the article. That's what i mean. As for what i feel everywhere it is the pressure on people. If you don't feel it, maybe you should get out of your house. One thing is for sure people are not the same as 10 years ago around here. I used to live in Canada as well. The difference is you know what's going on around you in Canada. Here you read the gulf news and everything is ok with no problems. I love it.
Keep Discovering:ok: |
Oh, If smoking pot, or stealing a car radio is violence...
I give up then... Dubble_ There is violence everywhere, INCLUDING Dubai. As for teenagers smoking pot......Peace man!!!!! |
LONDON, England (CNN) -- The Gulf may still be booming but inflation - and skyrocketing prices - is making life tough for the workforce.
Working in the Gulf is less profitable for expatriate workers because of inflation Many expats initially drawn by the region's tax-free salaries and high standard of living are now feeling the effects of inflation in high rent and living costs. All this is making work in Dubai, Qatar and the surrounding countries a less attractive proposition than it was a few years ago. "The working population here is growing restless and the reasons are obvious," said David Westley, Editorial Director at ArabianBusiness.com. "Inflation has become a real issue across the region... salaries have risen but they haven't risen as fast as inflation, which in real terms means you've had a pay cut," he continued. This means workers are finding it harder to save money and are experiencing a decrease in their standard of living. Add to that a lack of key social infrastructure like schools and some of the major incentives for people to stay in the region are disappearing. ArabianBusiness.com recently conducted an online survey which found that more than two thirds of workers who responded were more inclined to look for another job this year than in 2007. Off the record, even EK recruiters admit there is a serious problem. Lots of job browsers, but many rejecting the final offer. A few are foolish enough to fall for the hype and distorted facts they get told on interview but the more savvy see the potential pitfalls and real problems and steer clear. |
The USD is now within a hair of 1.60 on the EUR. I remember when the "Pro's" boldlly claimed that the Europeans would take action when it was at 1.50.
The point is the USD is doomed to fall a lot more. The country would be bankrupt if it was a company and no-one wants to do business with a company that looks wobbly. The effect for us in the UAE is to expect even more rampant inflation unless some sort of revaluation or de-peg of the Dirham takes place. Not likely however in the immediate future for a number of reasons, not least political. The Americans need a low dollar. The Fed are actively seeking this, though trying to control the fall to avoid panic and a large overshoot of where they need it. Here in the UAE, we go down with it and are indirectly now paying for American excesses. That's right, by virtue of the devaluation of our salaries we are paying the bills for America, and shackled to this by the Dirham peg. I resent working for those who elected a monkey for a president and paying for his illegal and ill-considered war. But those are my views so I'll move on. Oil now at 115 means aviation is going to suffer badly. Its not likely to recover with further dollar decline. US carriers are collapsing and more will fall. Inflation in the US is, and will get even more, serious. Aviation is the first luxury to economise on. High oil prices and lower passenger loads. No-one needs to think to hard too figure out where all this is heading. Back in the UAE we can expect minimal salary increases, rampant inflation and longer hours as the company milks this situation for all its worth. We have been warned..... |
Won't get better
|
Who are the pilots that are actually stupid enough to come to this inflationary environment? Are they that desperate? Can they not extend the numbers and trends to a position 2 years ahead?
I guess they are as stupid as someone who would criticize them and he himself is still here in this inflationary enviornment. It's called airline job stabilization, compared with other parts of the world. |
Schismatic,
I completely understand your situation. But do you believe that the guys joining now live in a complete bubble of ignorance? Do you honestly believe that they have left stable companies and countries to come here? They have come from failed carriers, no opportunities other than RJ captain, much greater deterioration of T&Cs than what we have experienced, worse political enviornment perhaps, lost retirements and pensions, etc. All have valid reasons for coming here and most probably would not if there were better alternatives, FOR THEM. They might not have the wide body jet time or whatever, like you. So for them, they may be doing exactly what you are, coming in, get the command and a few hours and then look for a better opportunity. The days of "womb to tomb" airline jobs are all but over, except for maybe UPS, FedEx, BA, Air France and a few others. But 10-15 years to any command at those places. I guess what I'm saying is, you are denigrating your future copilots by implying that they are stupid for doing what you are still doing. Five more years or less for you-five years or less for them: what's the difference? It's no harder for you to "untangle" here than it is for them to leave their country, enviornment, comfort zone, and move family and belongs here. You know, they already may have their exit plan and are wondering about your intelligence for staying as long as you have with all the wide body command time you have and with all of the other opportunities in the world vying for your experience.:ok: And to add one more comment on why pilots are still wanting to apply/work here. If you don't think the below doesn't scare the bejeezus out of them.......everywhere! Delta reports $6.4 BILLION loss for 1st qtr. Delta reports $6.4B loss in first quarter Wednesday April 23, 7:35 am ET Delta says it lost $6.4 billion in first quarter on hefty fuel costs, market value decline ATLANTA (AP) -- Delta Air Lines, the nation's third-largest carrier, says its loss widened in the first quarter to a whopping $6.39 billion due to soaring fuel prices and the steep decline in the company's market value.The results badly missed Wall Street expectations, despite a 12 percent increase in sales. NWA reports $4.1 Billion loss for 1st qtr. CHICAGO (Reuters) - Northwest Airlines Corp (NWA.N: Quote, Profile, Research), which plans to merge with Delta Air Lines Inc (DAL.N: Quote, Profile, Research), on Wednesday reported a quarterly net loss as the carrier grappled with skyrocketing fuel prices. The No. 5 U.S. airline said it lost $4.1 billion, or $15.78 per share, in the first quarter, compared with a loss of $292 million a year earlier, while the company was restructuring in bankruptcy and before its new shares were issued. The results include a $3.9 billion non-cash goodwill impairment charge |
Just don't be fooled, it's far from going away...
Al-Mansouri said last month it would be a "miracle" if the UAE meets its 5% inflation target this year. A little off target. Remember that not much is transparent around here. The last figures are 11.8% inflation. UAE inflation rose to at least a 20-year peak of 11.4 per cent last year and will rise slightly to 11.8 per cent this year, the poll showed But as discussed earlier it is more like 20% +++. Keep Discoreving:ok: |
Jan 1/08 most things went up by 20%
|
The dollar will continue to fall. America is deliberately doing this to make others pay the bill for their irrational lending, greed and overspending. Hardly surprising it has lost world respect. Its leadership is corrupt and morally bankrupt. Their mantra of democracy is wearing a bit thin as they hardly walk the walk.
UAE will continue the peg. Who cares about inflation - it keeps their property bubble growing and lowers ex-pat employment costs. Also keeps them in the good books with Mr. Bush. If they dumped the dollar peg, he would go down as the second president in power when the american currency collapsed entirely. Inflation will be officially 20% by the end of 2008. The dollar will not recover for a few years yet. America has not completed its cycle of systematic devaluation. |
A long article but very interesting. UAE will of course follow suit as they will not give up the dollar peg.
Joining EK? - Spend 10 minutes on reading this: http://www.shadowstats.com/article/292 |
Will next year bonus cover inflation?
Today we get the bonus for last year's work. It will compensate last year's inflation. But what about this year?
http://www.arabianbusiness.com/51999...hroughout-gulf Very interesting times ahead of us. Keep Discovering:ok: |
I don't think EK pilots have any idea of what is coming over the next 12 months in relation to cost increases.
Even as we get the salary increase of a pathetic 12%, there has been over 15% cost increases during the preceding 12 months. In some areas its a lot more. We are down 3% since the last pay review even with the latest increase. The alarming thing is that over the next 12 months inflation will be over 20% even at the most conservative economist estimates. One only has to look at the oil price to see why. Even if oil subsequently drops, the new prices will be set and will not roll back. Traders will try to recover for losses incurred during the high prices. EK is looking forward to an actual salary reduction in the order of 20% over the next year. |
Just to keep it up to date for all!
Well well
14 to 15% figure about to be released. Imagine the real numbers. Come to YOUBUY! and Keep Discovering! |
Money Week in the UK now puts Dubai inflation at 20%
Why America's debt makes it a dangerous place - Money Week The same article doesn't place much faith in the USD or the Dirham if it remains pegged at current rates. More inflation to come. |
REMEMBER and don't be fooled
Dubai has become a really expensive place. Keep posting important info about the cost of living around here. This thread has to be kept updated as much as possible. Prices just do not stop to go upward. Already the pay raise has been wiped out by the 20% +++ inflation
Officially, inflation is 11% but locals say the real figure is almost double that. When it comes to rent and property prices, they say, the rate exceeds 30% Keep Discovering :ok: |
Originally Posted by ekpilot
(Post 4354994)
Dubai has become a really expensive place.
Compared to Europe Dubai isn't expensive, most things are cheaper, but compared to the US then it probably is a bit more expensive. It's all relative :ok: |
Relative of course but..
Well of course everything is relative. But do you agree that if you get 12% pay raise and you have 20% inflation... well relative or not you loose buying power. Relatively it becomes more expensive. If you live in Europe or US, you probably own a house that is probably 3 to 4 times your yearly salary. Here in Dubai you are looking at paying 5-7 times your yearly salary at an interest rate of 7 to 8 % for a house. When basic needs like housing and food are going upward so fast, all I can say is that the place is getting expensive. I can't wait to see where a " FlyDubai " Captain with 2 kids will get for housing around here with the 16K DHS a month. Not a House for sure, just an apartment. For me that's expensive. And that's my point.
|
Also hard to swallow is the fact that EK "MAINLINE" only pay 14000 dhs per month.. for its existing pilot workforce who are outside company accom..:{
|
No brainer:
The poor EK guys are already stuck here, so why pay them adequately. The FD newbees still have to be lured in, so give them a carrot that seems fresh from far - but is basically rotten from the start ..... Housing is what will be the main motive to leave earlier than anticipated and will therefore cost the dishdashs more in the long run. |
Originally Posted by ekpilot
(Post 4356790)
If you live in Europe or US, you probably own a house that is probably 3 to 4 times your yearly salary. Here in Dubai you are looking at paying 5-7 times your yearly salary at an interest rate of 7 to 8 % for a house. When basic needs like housing and food are going upward so fast, all I can say is that the place is getting expensive.
I can't wait to see where a " FlyDubai " Captain with 2 kids will get for housing around here with the 16K DHS a month. Not a House for sure, just an apartment. For me that's expensive. And that's my point. Compared with the UK where your housing costs come out of whatever is left after tax of your total income. So surely you have to compare property prices in DXB with your total income - if you do that then DXB doesn't look so bad. Of course DXB is getting more expensive, but then so are many other cities throughout the world. If you find one where they pay megabucks and the cost of living is peanuts then let me know - I'll race you there ;) |
I reckon most pilots own a house 4 to 10 times their annual salary in the UK, depending on how hard they've tried to trade up.(4 times if aged less than 40 or up to 10 times if older than 50)
|
| All times are GMT. The time now is 09:45. |
Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.