corruption charges

[monsi]

Is it as bad as it looks from a distance?

Corporate corruption investigation widens in Dubai

[Gashead]

Dep chairman and chief financial officer of Eztithmar (sp?) both suspended today on corruption charges.

[georgihh]

Originally Posted by Gashead

Dep chairman and chief financial officer of Eztithmar (sp?) both suspended today on corruption charges.

Yes the market is sinking this time the game could be over.
People are taking money out of the country with unbelievable speed.

[Investoman_uae]

Originally Posted by georgihh

Yes the market is sinking this time the game could be over.
People are taking money out of the country with unbelievable speed.

Please stop spreadin false information. No such thing is happening.... i dont kno how you came to the conclusion tht people are takin out their money with and I quote "unbelievable" speed

I have not noticed any such thing goin on.... its actually a good thing that Dubai is crackin down on corruption.... this will build more investor confidence DUHHHH!!!

Inv.

[Roshan]

Originally Posted by Gashead

Dep chairman and chief financial officer of Eztithmar (sp?) both suspended today on corruption charges.

My...My...another one bites the dust

Good riddance to bad rubbish....

Roshan

[Roshan]

Originally Posted by georgihh

Yes the market is sinking this time the game could be over.
People are taking money out of the country with unbelievable speed.

On what do you base this info ???.

Roshan

[georgihh]

Originally Posted by Roshan

On what do you base this info ???.

Roshan

The Dubai Financial Market

[New_Investor]

Originally Posted by georgihh

Yes the market is sinking this time the game could be over.
People are taking money out of the country with unbelievable speed.

I've followed some of your posts and it's obvious that you're opinion is neither built on Dubai financial market and nor to any other credible resources, it's obvious that this is your Biased personal views and for personal reason you are trying to spread the word that the market is collapsing to scare off every one from buying, hence prices will go down and you can buy cheap......

I've seen such attempts from several investors and it never help them.. when the market will fall it will and no one can predict it, yes the market is currently slow, but this happens always during Ramadan, and even if the speculation that we will SEE a correction in the market during 2009-2010 it does not mean that the market is collapsing.

My advice is to be as neutral as possible as this might lead to misleading your self before any one else.

Good Luck.

[Fran]

The Emirates News Agency WAM reported that the board of directors of Central Bank discussed on Sunday the current position of liquidity at banks, and in the country in general, and confirmed that almost 90pc of foreign, speculative hot money has already flowed out of the country.

At this year’s second meeting presided over by HE Khalil Mohammed Sharif Foulathi, Chairman of the Board of Directors, the Board also instructed the continuation of monitoring the situation closely.

The Board was ‘assured that the Central Bank has the necessary tools to deal with the situation if so required’, said a statement from the Central bank.

The Board also reviewed applications submitted by banks operating in the UAE to expand their businesses and open new branches, and reviewed applications from natural and juridical persons to found companies and establishments to undertake financial activities and money changing business. The Board approved the applications, which fulfill the terms as per the law and regulations, as applied to each business activity.

The Board also discussed memoranda relating to organizational matters at the Central Bank and took appropriate decisions.

The meeting was attended by HE Dr Omar Mohammed Ahmed Bin Sulaiman, Deputy Chairman, HE Sultan Bin Nasser Al Suwaidi, the Governor, Younis Haji Khoori, Mubarak Rashid Al Mansouri, Hilal Khalfan Bin Dhahir Al Muhairi, Khalid Mohammed Salem Balama, Board Members, and Mohamed Ali Bin Zayed Al Falasi Deputy Governor.

WAM

[Fran]

What I think ( and I am an optimist), is that all of this high profile actions against corruption, speculative activities and new real estate regulations are aiming only to strengthen the market in a long term and establish confidence in foreign investors (end buyers and end users), which may be not so long term actually (keep in mind the speed), but from Cityscape onwards.

As for the DFM, let's face it: Lehman Brothers are filing for bankruptcy and all over the world markets are trembling down. Oil is around $93 which is very very low , but that also has explanations and measures are already taken: OPEC cuts production : Dubai Chronicle

Gulf markets pummelled by Wall St crisis - Financial Markets - ArabianBusiness.com

What will help: Sovereign Wealth Funds may change direction of investment flows : Dubai Chronicle

All if this maid be a bit difficult to understand if you are not reading news daily.

My conclusion is that we are at the end of the beginning, rather than the beginning of the end.