Dubai has been hit by two financial crises in the last eight months, which have combined to bring the emirate’s real estate market to a crawl.

As well as the current global credit crisis, Dubai has suffered from its own run on liquidity based around the hype surrounding the dropping of the dollar peg.

Rumours of a possible revaluation caused a number of global investors to speculate on the pegs, bringing billions of dollars into the UAE and, in turn, creating an influx of liquidity and allowing banks to lend at very attractive rates, Ali Al Shihabi, CEO of Rasmala Investment Holdings told delegates at the monthly Dubai Property Society meeting.

When the central banks put an end to speculation by issuing repeated denials, these speculators pulled capital from the region. By July the market was suffering from a major lack of liquidity, causing tightening in lending criteria, and by August, the emirate was undergoing its own mini credit crisis.

The global crisis being felt by countries across the world, has further compounded the problem by causing local markets to plummet and regional investors to question local stock – especially the real estate shares that prop up Dubai’s economy.

Repatriation of capital, Though the market is undeniably slowing, witnessed by the falling trend amongst speculators looking to flip off plan properties, there has been no sign of a halt in buying by end users.

If recent past precedent is any guide then Dubai will be a winner from the current global financial crisis. And remember, in big financial shakeouts there are always winners and losers.

After 9/11 – which at the time looked an absolute disaster for inward investment into the Middle East – Arab investors brought an estimated $1 trillion back to the region from America where it was under threat of seizure. It was this money that first powered up the Dubai property boom.

Similarly the invasion of Iraq in 2003 hardly appeared good for regional confidence at the time. But Dubai gained in the aftermath as a safe haven in a troubled region and from the war’s impact on oil prices that fuelled its trading and service economy.

Capital flight this will be a flight of capital to safety and quality. It could well mean that Dubai property prices have another up leg to come, and that the crisis today is no more than a slowdown in the bull market.

In the meantime, if a fall off in cash flow to under-capitalized developers results in a consolidation of the sector, that will be healthy in the long run.

The losers will be the people who cannot afford their installment payments and who were relying on flipping to cash out before payments became due. Over-stretched speculators both among buyers and sellers will go through a painful consolidation period, unless new capital arrives from overseas very quickly.

Given that their financial distress may be very immediate this is where a shakeout is most likely. However, the market for completed property in many locations is severely undersupplied and will not suffer much – prices for villas are still going up, and even in the middle of last week’s crisis, completed properties were selling in Dubai, although at a slower pace than previously.

Avoid These 7 Work Taboos
By Rachel Zupek, CareerBuilder.com writer

Whether it’s dancing on top of the bar at the company holiday party, chewing with one’s mouth open or falling asleep in a meeting, everyone is guilty of committing some kind of faux pas — social, professional or otherwise.

To avoid putting your career on the line, try to avoid committing the following taboos while on the clock.

Taboo No. 1: Kissing a co-worker

The likely scenario: You’ve had a crush on your co-worker since you started working a few months ago. Now it’s the holiday party and you’ve taken full advantage of the open bar and the liquid courage it’s provided you to flirt with your fling. Before you know it, you’re locking lips for all to see — and talk about come Monday morning. If this sounds familiar, you’re not alone; 35 percent of workers in a 2007 survey admitted to kissing a co-worker.

Our advice: If you can’t restrain your desires to smooch your colleague, at least do yourself the favor of waiting until you’re behind closed doors.

Taboo No. 2: Lying about your credentials

You’ve read the stories in the newspapers — CEOs, celebrities and ordinary workers alike are fired every day for one common crime: lying. In a recent CareerBuilder.com survey, one candidate invented a school that didn’t exist, while another went as far as submitting samples of work — that actually belonged to the interviewer. Thirty-eight percent of workers surveyed indicated they had embellished their job responsibilities, 18 percent lied about their skill sets and 10 percent lied about their academic degrees.

Our advice: Whether it’s about your education, experience or previous employers, fudging anything on your résumé is never a good idea.

Taboo No. 3: Wearing inappropriate clothing

How many times have you heard, “Dress for the job you want, not the job you have?” Yet how many times do we see this mantra avoided in our offices? Something tells me that the marketing assistant from the 15th floor doesn’t strive for a career in prostitution, so why is she dressing that way? Not only does dressing inappropriately at work send the message that you don’t care about your professional image, it also hinders your chances of moving up the corporate ladder. In a recent CareerBuilder.com survey, 41 percent of employers said that people who dress professionally tend to be promoted more often than others in their organization.

Our advice: Follow the mantra — and mean it.

Taboo No. 4: Gossiping

Rumors in the workplace are like gasoline on a trash-can fire — they spread … fast. While lighthearted conversations around the water cooler are one thing, standing around dishing about your co-workers is another. Unfortunately, it’s a common scenario in most corporate cultures: 19 percent of workers in a 2007 survey said they have spread a rumor about a fellow employee.

Our advice: Co-workers who gossip or spread ugly rumors can harm the work environment. Do your best to stay clear of these people. If you can’t get away, at least avoid engaging in the tittle-tattle.

Taboo No. 5: Drinking too much … inside or outside the office

It’s not the 1960s, people. This means it is not OK to keep a bottle of whiskey in your desk drawer and pour yourself a drink every time you want to celebrate or glower. Employees seem to be confused on this standard office rule, as 31 percent of those surveyed by CareerBuilder.com admitted to tipping the bottle at work.

Our advice: Unless you’re having a party in the office (approved by management), save the libations for happy hour. Even then, always drink responsibly.

Taboo No. 6: Forgetting someone’s name

Have you ever been in a meeting with an important client and, to your horror, when you introduce him to your boss you can’t remember the client’s name? Such a grave mistake is not only taboo, it’s embarrassing. The easiest way to overcome this gaffe is by asking the nameless client if he’s met your boss, Albert Hanson. Hopefully, your client will respond by introducing himself.

Our advice: Forgetting a name has happened to everyone. The best way to recover is by trying something like the aforementioned tactic. If your plan backfires, however, the best thing to do is apologize and admit your mistake.

Taboo No. 7: E-mail mishaps

Whether it’s hitting “reply all” by accident, sending an e-mail to the wrong person or making adverse comments for all to see, examples of e-mail mess-ups are endless. Be careful when it comes to e-mail; it’s not private and can be the quickest way to end your career if you misuse it.

Our advice: Never say anything in an e-mail you don’t want broadcast to the world. Also, keep e-mail use to a minimum and give a little face-to-face time a try once in awhile.

Rachel Zupek is a writer and blogger, She researches and writes about job search strategy, career management, hiring trends and workplace issues.

Live Positive Think Positive

How you look at life is a matter of choice. Say hello to positive living with these steps

An increasing number of people in the UAE are seeking advice from certified hypnotherapists to get to the bottom of many problems such as negative thoughts and feelings.

Hypnosis – believed to have been around for thousands of years – refers to a state of focused consciousness. It is described as a process where one can hear what is happening but may not want to move, leaving one in a highly suggestible state.

You can be guided into this state by a hypnotherapist who will also give you “hypnotic suggestions”.

Safiya and M.R. Hussain, a married couple who run the Orators’ Forum Institute for Human Development and Behavioural Therapy in Dubai, say such suggestions enable people to make desired changes in their life.

Hussain said some of the most widespread reasons for negative thoughts in the UAE are related to events that have caused psychological traumas, marital problems, addictions and low self-esteem.

“Hypnosis is such a normal state of mind most people usually don’t even realise they are hypnotised,” Hussain said.
“Normal, everyday hypnosis occurs when you are driving and lose track of time or when you are focusing on a book or TV programme and you don’t notice something that is going on around you.”

Eliminate negative thoughts and feelings and replace them with positive thinking by following these simple steps recommended by Safiya and Hussain:

Step 1
Try to see every problem as a challenge, and an opportunity to improve yourself. Remember, only you are capable of changing yourself, not anyone else.

The outside world will be what it is, so try to see it through a positive lens as much as you can.

Step 2
Have a contagious enthusiasm — it not only means you generate positive energy but also acquire a positive mental attitude.

Move in the company of positive-minded people. Try to stick to the changes you make.

Find out the real cause of your negative feelings and thoughts through hypnotherapy and cognitive behavioural therapy, which can help you forgive at a subconscious level.

Step 3
A positive mental attitude will automatically raise your self-esteem and self-confidence, which equip you with the skills necessary to better your life.

“When you have a positive mental attitude, your physiology changes. You walk three inches taller. You will project a better image and speak with astounding impact,” Hussain said.

Step 4
Each time you leave your house — whether it is to work or to go on a trip — remember to take your positive attitude with you (along with your cellphone and laptop, of course).

Avoid those who display negative energy, as they can hold you back or drain you. If that happens, try to identify them to either help or just accept the way such people are.

Step 5

Try to stop using words such as “don’t”, “but”, “if” and “why”.

Replace these words with positive words such as “remember”, “and”, “when” and “what if”.

When you are at home, separate rooms for various self-reflection purposes such as worry, self-development and hypno-coaching.

Causes in the UAE

The most common reasons that make people in the UAE experience negative emotions are:

* Shyness caused by low self-esteem. This results in inferiority complex, social phobia and fear of public speaking.
* Sexual dysfunction.
* Marital problems.
* Poor self-image, caused by obesity or anorexia, among other reasons
* Addictions such as smoking and alcoholism.
* Compulsions – OCD (Obsessive Compulsive Disorder) and/or Perfectionism.
* Feelings of anger and hatred. Jealousy, resentment, revenge, criticism or being judgmental or fearing being judged, fear, doubt or superstition.
* Psychological trauma such as childhood abuse.
* Anxiety, in the form of poor concentration, test anxiety and examination phobia.

Avoid them

Pent-up negative emotions are believed to cause conditions such as cancer, diabetes, high blood pressure and arthritis. Here are other traits that can affect, too:

* Not having a pleasing personality.
* Lack of self-discipline.
* Lacking enthusiasm.
* Not learning from defeat or failure.
* Not maintaining good health.
* Inability to control bad habits.
* Procrastination.
* Blaming others.
* Not having motives or goals.
* Stress.

Healthy steps
Control your life better by following these simple guidelines:

* Have a daily exercise routine.
* Practise self-hypnosis regularly.
* Flush out negative thought patterns from your subconscious.
* Use positive language patterns
* Feed your subconscious with positive affirmations.

Missing South African woman Kerry Winter is dead

The 1st case of 2008 of a Missing Expat woman – Murdered by the Boy Friend.

Illicit physical relationships have grown very common in UAE specially in the Modern Developed Dubai, the Expats practice Living together life style, despite law of the land despise, detest and BAN such relationship status.

The main suspect in the Kerry Winter case has told police that she was dead in the car while with him but has not confessed to murdering her, Gulf News has learned.

The police are continuing to look for the body. as if it is not a human body it is a needle in haystack.

The 35-year-old woman was last seen on August 20.

Authorities have “crimnally” declined to comment as the investigations are underway.

It would not be unusual before the Dubai police put up a hush hush on this murder and do all the proceedings quietly without bringing the trail & its details to the media.

The Killer another expat shall be made an example of justice & punishment according to the law of land.

*Ducks Quack, Eagles Fly*

No one can make you serve customers well. That’s because great service is a choice.

–
Harvey Mackay, tells a wonderful story about a cab driver that proved this point.

He was waiting in line for a ride at the airport. When a cab pulled up, the first thing Harvey noticed was that the taxi was polished to a bright shine. Smartly dressed in a white shirt, black tie, and freshly pressed black slacks, the cab driver jumped out and rounded the car to open the back passenger door for Harvey .

He handed my friend a laminated card and said:

‘I’m Wally, your driver. While I’m loading your bags in the trunk I’d like you to read my mission statement.’

Taken aback, Harvey read the card. It said:

Wally’s Mission Statement:

To get my customers to their destination in the quickest, safest and cheapest way possible in a friendly environment.

This blew Harvey away. Especially when he noticed that the inside of the cab matched the outside. Spotlessly clean!

As he slid behind the wheel, Wally said, ‘Would you like a cup of coffee? I have a thermos of regular and one of decaf.’

My friend said jokingly, ‘No, I’d prefer a soft drink.’

Wally smiled and said, ‘No problem. I have a cooler up front with regular and Diet Coke, water and orange juice.’

Almost stuttering, Harvey said, ‘I’ll take a Diet Coke.’

Handing him his drink, Wally said, ‘If you’d like something to read, I have The Wall Street Journal, Time, Sports Illustrated and USA Today.’

As they were pulling away, Wally handed my friend another laminated card. ‘These are the stations I get and the music they play, if you’d like to listen to the radio.’

And as if that weren’t enough, Wally told Harvey that he had the air conditioning on and asked if the temperature was comfortable for him. Then he advised Harvey of the best route to his destination for that time of day.

He also let him know that he’d be happy to chat and tell him about some of the sights or, if Harvey preferred, to leave him with his own thoughts.

‘Tell me, Wally,’ my amazed friend asked the driver, ‘have you always served customers like this?’

Wally smiled into the rear view mirror. ‘No, not always. In fact, it’s only been in the last two years. My first five years driving, I spent most of my time complaining like all the rest of the cabbies do. Then I heard the personal growth guru, Wayne Dyer, on the radio one day.

He had just written a book called ‘You’ll See It When You Believe It’.

Dyer said that if you get up in the morning expecting to have a bad day, you’ll rarely disappoint yourself.

He said, ‘Stop complaining! Differentiate yourself from your competition. Don’t be a duck. Be an eagle. Ducks quack and complain. Eagles soar above the crowd.”

‘That hit me right between the eyes,’ said Wally. ‘Dyer was really talking about me. I was always quacking and complaining, so I decided to change my attitude and become an eagle. I looked around at the other cabs and their drivers. The cabs were dirty, the drivers were unfriendly, and the customers were unhappy. So I decided to make some changes. I put in a few at a time. When my customers responded well, I did more.’

‘I take it that has paid off for you,’ Harvey said.

‘It sure has,’ Wally replied. ‘My first year as an eagle, I doubled my income from the previous year. This year I’ll probably quadruple it. You were lucky to get me today. I don’t sit at cabstands anymore. My customers call me for appointments on my cell phone or leave a message on my answering machine. If I can’t pick them up myself, I get a reliable cabbie friend to do it and I take a piece of the action.’

Wally was phenomenal. He was running a limo service out of a Yellow Cab. I’ve probably told that story to more than fifty cab drivers over the years, and only two took the idea and ran with it. Whenever I go to their cities, I give them a call. The rest of the drivers quacked like ducks and told me all the reasons they couldn’t do any of what I was suggesting.

Wally the Cab Driver made a different choice. He decided to stop quacking like ducks and start soaring like eagles.

How about us???
Leading the Change of Life & Many More………

Enjoy The Life……..

Something I drew attention to back in November was Dubai’s tough anti-drug laws.

It’s surfaced again because there’s a web campaign under way for the release of German citizen and UK resident Cat Le-Huy, who was detained under the laws. The campaign says that he is not guilty and was falsely imprisoned, the medication he was carrying was not banned and the ‘marijuana’ he was accused of carrying was in fact specks of dirt. Several bloggers have joined in, while the main site pushing the issue seems to be thetruthaboutdubai.com.

According to these sites, Le-Huy was detained on suspicion that the (legal) Melatonin bottle found in his bag contained other pills. They say that tests conducted by the authorities indicated that the bottle did not contain any other substances and the Melatonin was cleared, that Le-Huy’s urine sample also tested negative for any drug use that the German Embassy expected that Le-Huy would be released at this time, but authorities have called on an option to extend his detainment in order to investigate the specks of dirt that they found.

Because I have no way of telling the truth of Le-Huy’s case I won’t comment on it. Except to say that if he is indeed innocent then he should be released immediately with at the very least a fulsome apology and some sort of compensation.

I must point out though that there are some tabloid-style hysterics on the site though that are misleading for travellers in general, and that’s dangerous.

They also make ridiculous demands of the tourism authority.

I’ll go into both later.
(more…)

When I first landed in Dubai, I was taken in by the sights, by the traffic, and above all, by the roads and by what to me then looked like perfection. Few months in, and I can see clearly the chink in the armour. I can spot the places where paint has peeled off and the brickwork (figuratively) shows through.
Rahul Bhatia talks much the same thing in this post:

The feeling that Dubai had moved on lasted a few years. Then, quite recently, a visiting cousin mentioned the spate of robberies and murders. Another spoke of seeing beggars for the first time. The city had poverty, it had crime, labor unrest, the traffic situation was incredibly bad – these were real problems and the newspapers were reporting them. This, ten or even five years ago, was unthinkable. They didn’t exist. Zero-crime place, we told everybody. But what to tell them now? That it is a city with real problems? In a funny way, this is rather satisfying. The city has overtaken everybody, its planners included, and is now something else. Now the fun begins. Now concerts will be chaotic, now social norms will change, now its pristine image will lose some shine, now classes of people will be more distinct and there will be markets for each of them. It will produce art and literature and all kinds of creativity. This is immensely exciting. It’ll be a real city.

Read the whole post. It’s brilliant.

[via]

I’ll vouch for Automatic’s good-ness. Many a lunch hour has found me walking into/calling in Automatic.
But, this post is not about Automatic. This is about a cozy place called Stefano’s, in Al Barsha, past teh Mall of Emirates.

Stefano’s is an Italian restaurant. Though, I am not sure if the term restaurant applies to a place like it. Paintings line the wall (and are for sale), the overall ambiance is warm and rustic. And the food. The food is (of what I ate) fantastic. I had pasta (the name of which eludes me right now – but it had aubergines, tomato and something else) and a brilliant Tiramisu. Meal for two came to about 90 dhs. Which, to me, is a spiffy deal.

The chef I hear is an Indian. Which makes this place even better in my eyes.

On a scale of 10, I’d give it a 8.

One of the nice things about Dubai is that it’s easy for us to indulge in one of our favourite pastimes – eating out.

We have hundreds, maybe thousands, of cafes, coffee shops, restaurants from horribly expensive signature restaurants in five-star luxury hotels to little neighbourhood street cafes. And cuisine from just about anywhere in the world, so the choice is amazing.

We like to ‘graze’ rather than have a set meal – the Spanish tapas, Chinese dim sum, Arabic mezza style with several small dishes of different items giving a range of textures and flavours.

I’ll talk about mezza another time because I wanted now to highlight something that has always surprised me – the amount of free food that comes with an Arabic meal.

Salad, olives, pickle, bread basket are all normal complimentary items, and not in small amounts either.

For example, here’s what we get in Automatic, which is a small chain of restaurants dotted around the city. We go to the one in Beach Centre Mall at the top of Beach Road in Jumeirah where I took this photo of the free inclusions:

(more…)

Let me just continue Seabee’s previous post. The Dubai Airport is truly staggering, especially if you come from a not-so-glittering-yet-efficient-and-decently-run airport that Chennai (MAA) is. And, DXB is tiringly big. Arriving passengers have about a mile and a half to walk, just to get to the visa collection area. Throw in a few stairs (oh, well, Escalators) and a long queue at the passport control, and you have what’s a brilliant way of keeping me hungry for a long time.

But, well, introductions, first. I’m Chandru, till recently a resident of Chennai, India.

Chennai, they say, is one of the best airports in India. And one-heck-of-a-city. I’d like to think so. But, Dubai will be home, I think, for a little while more. Give me a few days (or weeks, more likely) to explore this city, and some time to settle in, walk around, get my bearings. And I shall blog this city up for you all.