Businessman had unpaid fines and bank case; Suffocated child in despair, then he and wife hung themselves -

Based in RAK – UAE Anil & Sareeja from India with an 8 year old child Anishree, took the most unfortunate step out of stress & financial suffocation.

The Businessman Anil was in transport business with trucks leased from banks. As the Platinum period of UAE come to an end in 2007 businesses related to construction & logistics movement came to an snails pace. 1st forcing the small entrepreneurs out of league then the mediocres and come halt to the Fleet owners.

Story of Anil is from the 1st category of an struggling hardworking entrepreneur who at the crux of his decision was driving truck 24/7 by himself to keep ends intact.

The Financial Vultures hawking the debt ridden Anil ensured that he does not miss what according to LAW is a mandatory obligation – Installment payment.

Anil is not the only one, the newspapers across UAE have reported multiple sucide cases in past 24 months. All related to debt ridden individuals.

The Govt of UAE Central Bank shall step-in between the Dead Business debtors & banks, to devise a re-payment plan. Freezing of Debt amount shall be done once the agreement is made between the banks & the debtor.

Saving human lives is most important then hawking a person to commit a sucide.

STORY

An incident of Protest Organizing VIA FACEBOOK took place in Dubai last night.i.e Sunday Aug 21 2011

Five of the Indian expat organizers managed to gather people from Indian expat community in support of Mr. Anna Hazare at Al Mamzar Beach Park. It was all managed by the 5 people using Facebook & via BlackBerry Text messaging over the network. People fed-up of political atrocities & bureaucratic corruption in India came out & gathered in the Al Mamzar Beach Park, March started at 8.30 PM Local time. Intercepted & Dispersed by Dubai police after a kilometer.

Police arrested 5 of the organizers and referred to public prosecution. Rest of the crowd was advised to disperse & go home since such activities without permission are Illegally & not-allowed in UAE.

It is evident that the organizers are aware of the law but willingly tried defying it to express solidarity with their leader back in India.

Sorry GUYS, respect the law or face the consequences.

It was 5 days before the developer knew it and 4 days before the Property managers moved their lazy being to get-it-fixed the damage to a water pipeline.

Residents at Palm Jumeriah Seven building complex Oceana suffered high & dry water-less for 4 days. The property manager instead of getting work done on war-footing & urgency due to Holy Month of Ramadan, offered Hotel accomodation at a PRICE. Ironic isn’t it, we cannot supply water to your home so you move out and stay at hotel pay for it while we TRY to fix the problem.

No wonder if DEWA jursidiction seize to exist on the free-hold Palm properties. Property managers take residents for granted to suffer with their attrocities & violation of basic human rights.

US rating dropping from AAA to AA+ is about to show impact on GCC economy. The stock markets are visibily shaken The GCC currencies are pegged to the US Dollar and a double DIP is at Horizon end Q3 2011 and will continue till end Q1 2012.

The GCC currencies will depreciate and will be a while before the coma is over.

It may be ENOC, EPCO, EMIRATE under stress and losses, Fuel prices are likely to be Doubled if not trippled. from 6.80 / gallon to 18.50 / gallon

Eppco and Enoc have submitted reports to the Ministry of Finance and Industry recommending lifting the fuel price cap and letting the market decide what is a fair rate for fuel in the UAE.

The two companies say that the cap on prices is leading to massive losses due to rising crude oil prices on world markets

Lifting the ban may result in a tripling of the price of petrol, from around Dh6.80 per gallon to around Dh18.50

on the other hand,

Sources in the oil sector said that the UAE Government is moving to cancel licences owned by Eppco and Enoc in the northern emirates and allow the Abu Dhabi National Oil Company (Adnoc) to take over the running of the service stations.

They added that Adnoc has shown a high degree of interest in the matter and it will manage and run all the stations previously run by both companies.

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Non-resident Indians (NRIs) have been warned that they will have their bank account in India frozen if they fail to update their personal details with their bank.

“As per RBI [Reserve Bank of India] guidelines, banks are required to periodically update customer identification documents, including photographs. Therefore, we request you to complete and submit the know your customer [KYC] documents listed below along with a duly filled customer update form.”

An NRI has to submit his current passport and visa copy, address proof (Indian or overseas address, whichever is available), a recent passport-sized photograph along with the customer update form.

The bank adds: “The above documents need to be submitted within 30 days of date of this intimation. The bank reserves the option to freeze the account in case of non-submission of the said documents.”

An individual, who works as a manger in a real estate company, told “I have two NRE accounts. Yesterday I got this email and fortunately I opened to read it… they have asked me to update my details and failure could result in bank freezing my account.”

Cut off line for submission is April 30 2011

Barring a few niche sectors and positions in particular, employees in the UAE did not see any pay hikes coming their way in the first quarter of this year, say HR and recruitment experts.

“There are no major salary increases in the market. On the contrary, the cost of housing is still falling, so this cost does not affect negatively the remunerations of the executives. Increases are mostly based on individual or company performance, or the rarity of the expertise of the individual,” Konstantina Sakellariou, Partner, Marketing & Operations Director at Stanton Chase.

According to experts, it’s still an employers’ market where remunerations are being negotiated hard and pay hikes are hard to come by.

Easy availability of employees will keep the salaries depressed in the market. “I can only see the private sector reducing salaries as they believe that they can still hire people cheaply and that there is no problem in the supply of people. Existing staff still employed can expect a reduction in salary to be discussed in 2011 along with a reduction in quality of benefits , such as cheaper healthcare , cheaper flights etc .We expect bonus levels to drop as well.,” said Matthew Carter, Managing Director at McArthur Murray.

The Ministry of Labour has said workers can avail temporary work permits for a fee, provided certain conditions are met.

The ministry has fixed Dh500 as charges for issuing temporary work permits for workers, for a period not more than one year for all categories of enterprises, reported by the Labour Ministry.

Mandatory conditions include the category of profession.

Workers profession should match the activity of the enterprise and he/she should not be less than 18 or more than 65 years. Also, priority will be given to Emiratis and GCC nationals who can take up the required job. And the licence of the enterprise should be valid.

The ministry also set conditions to approve issuance of a work permit for a period of time to the workers registered in the ministry, including that they possess a labour card and a valid residency.

The Govt of UAE have decantralised the motor vehicle registration renewal and D/L renewal. means if you have a driver’s licence and a vehicle is registered in your name, you may renew it from any where in UAE. However you will need a copy of passport and valid residence visa to that effect.

Thank you GOVT

UAE is oversupplied with talent which can be hired cheaply compared with the heydays of 2007/08. In 2011, The private sector reducing salaries and perks is widely whispered. As they believe that they can still hire people cheaply and that there is no problem in the supply of people. Existing staff still employed can expect a reduction in salary to be discussed in 2011 along with a reduction in quality of benefits, such as cheaper healthcare, cheaper flights cutting on perks & extra benefits.

If a company feels comfortable with revenues and their sustainability, then senior executives are going to receive an increase, either in the basic salary or in some of the allowances offered. Senior executives know from the beginning that they are not simple employees, waiting for a salary increase, but they contribute in making this happen.

The international markets are not solid yet, so all companies are very cautious as per the increase of their expenses (including expenses in human capital). Companies will be making rational decisions for their expenses and will avoid the huge remunerations of the past that were not really paying back in productivity and profitability. This is indeed a way that most companies will choose for their operations in the next year(s) , considering the current global economic scenario, hikes may not be expected.