Tuesday, October 14, 2008

'Expats feel very lucky to be in the UAE' - Dh120 billion pumped in!

While our opposition leader is crying for blood in Parliament for new fresh 2009 budget to be tabled by the new Finance Minister in the wake of the ongoing global financial crisis, the UAE is already making immediate bold steps to address and overcome the crisis.

In Malaysiakini, Anwar also criticised Najib for allegedly being more preoccupied with approving projects worth billions of ringgit without tender instead of concentrating on efforts to tackle the economic situation in the country.

Among the projects, he claimed, were the RM11.3 billion high-speech broadband project, the controversial Maybank-PT Bank Internasional Indonesia (BII) deal and the purchase of 12 helicopters worth RM1.5 billion from Eurocopter.


Latest news splashing all around the UAE few minutes ago:-
Shaikh Mohammad orders Dh70b fund transfer to pump liquidity into banking sector

His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has ordered a Dh70 billion transfer to the Ministry of Finance to pump liquidity into the banking sector.
The new transfer brings the total emergency funds for the UAE banking sector to Dh120 billion, WAM reported on Tuesday.
The decision to transfer the fund came after guidance from President His Highness Shaikh Khalifa Bin Zayed Al Nahyan.

As per today's Gulf News, expats feel lucky to be in the UAE:-

Dubai: Gulf News readers welcomed the government announcement to guarantee bank deposits across the UAE.
The decision has reassured UAE residents about their financial situation, at a time when people around the world are worried about their savings.
Canadian expatriate, Philip Norman, believes this makes a strong statement about the government's commitment to ensure financial stability in the country. "Banks take a risk when they spread operations in different countries," Norman said.
"By making this announcement, the government is giving out a message that we are safe. Even if things go wrong and we are facing problems, we have all the support from the government. It is an extremely generous step," he said.
Abu Dhabi-based Salvadorean, Jaime Samour, also echoed the sentiment as his concerns about the spiralling economic situation were put to rest.
"My friends who live outside the UAE have been severely affected by the crisis. We were all concerned about our savings with banks closing down across the world," Samour said.
"The announcement has come as a excellent news. It gives us security that we can stay in the UAE and not worry," he said.
Malaysian expatriate, Radhika O'Sullivan, received e-mails from her friends from across the world, telling her that the UAE is the best place to be in during the global crisis. She feels the government's reassurance has made a world of difference for the average resident.
"I feel very lucky to be living in the UAE," O'Sulllivan said. "The government has supported us in this difficult time. Whatever savings I have are extremely important for me as I plan for my son's future. He is going to start college in a few years time, and it feels good to know that my deposits are safe," she said.
For Sharjah-based Indian expatriate, Mohammad Ameen, the announcement was further reassurance of the security he enjoys while living in the UAE.
"I have a deposit in the UAE and I am fully satisfied with the safety. I was always confident in the government's commitment towards our well-being," Ameen said. "With this announcement, we are further reassured that the leaders are always concerned about the residents in the UAE and their sense of security," he said.

1 comment:

kruel said...

Hujan emas di negeri orang... not that I am judging anyone or trying to be sarcastic but some do try to fight the good fight either within or without...