Results 21 to 30 of 73
-
November 20th, 2008 12:23 PM #21
^^I dunno. I don't have a crystal ball only the companies can say if they plan to lay off or not.
By the way Advanced Contact Solutions (AKA Paxys which is a listed company in the PSE) layed off some agents because one of their US clients went bankrupt.
http://www.abs-cbnnews.com/video/nat...r-lays-workers
-
BANNED BANNED BANNED
- Join Date
- Aug 2008
- Posts
- 1,099
November 21st, 2008 04:00 AM #22
-
November 21st, 2008 11:17 AM #23
This news is also a bleak outlook for our OFW's based in Dubai.
[SIZE=3]`Dubai Dream' May Be Over on Lower Oil Price, Citigroup Says [/SIZE]
By Camilla Hall
Nov. 18 (Bloomberg) -- The ``Dubai dream'' may be over because lower oil prices will leave smaller fiscal surpluses among its crude-exporting neighbors to invest in the emirate, said Citigroup Inc.
``We believe it is safe to say the Dubai dream is perhaps over,'' Citigroup economist Mushtaq Khan said in a report e- mailed today from London.
Dubai has borrowed from its neighbors and international banks, sparking a real-estate boom that saw residential property prices increase fourfold in the last five years. The bubble may be about to burst as HSBC Holdings Plc said Dubai and Abu Dhabi house prices fell for the first time this month, after credit markets seized up, banks tightened mortgage criteria and developers started to scale back projects.
The emirate ``has been booming on the oil surpluses'' from neighboring Gulf states and Russia, Khan said. ``Dubai's two specific concerns are its real-estate sector and how it will refinance the debt it has built up in recent years.''
The price of New York-traded crude has more than halved to about $55 a barrel since reaching a record $147.27 on July 11.
Gulf states will be able to maintain fiscal spending at current levels as oil remains above the breakeven point for most governments, Fitch Ratings said in a report on Nov. 11. New York-traded crude closed at $59.33 that day.
Dubai has borrowed to fund real-estate projects including Burj Dubai, the world's tallest tower, and to buy stakes in companies such as Deutsche Bank AG as it seeks to diversify its economy away from oil.
-
November 21st, 2008 12:03 PM #24
money is drying up everywhere
even in the middle east
much of the world's money is parked in US T bills
go to Washington...
that's where the money is
the US govt is spending trillions
-
November 21st, 2008 12:36 PM #25
^^That is misleading and you know that! Washington is the most bankrupt entity in the world. But given the powers of the printing press, they can instantaneously create money out of thin air without pain, and all the gain!
-
November 21st, 2008 12:49 PM #26
hehehe
ok i failed to add one word -- paper
go to Washington
that's where all the paper money is
-
Verified Tsikot Member
- Join Date
- Jul 2008
- Posts
- 17
January 1st, 2009 04:23 PM #27tanong ko lang po: if most banks worldwide don't have the money, eh saan po napunta ang pera ng mundo?
-
January 1st, 2009 05:24 PM #28
no, there's money in the banks
they just won't lend
so there's less money in the economy
-
January 1st, 2009 07:20 PM #29
I'm on semiconductor industry and it really hit by the global crisis. I know some semiconductor companies started to reduce their manpower due to their loading forecast really drop... hundreds as I speak and it is really bad for our country. Many of the OFW's in Taiwan who worked for semicon have been lay-off and went back here without any money in their pocket... may utang pa!
Products of semiconductor are for electronics, telecommunications, automotive.
-
January 1st, 2009 08:59 PM #30
Any country who depends on US and EU demand is affected
China, Japan, Taiwan, etc
Life Lessons From A Monk & His Tuned Mini Cooper S - Speedhunters Sent from my SM-S901E using...
Monk-owned R53