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Saudia, Bahrain, UAE & Egypt cut diplomatic ties with Qatar

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The Accountant said:
because this is half of the picture, Dubai was about to be bank corrupt in 2008 when Abu Dhabhi provided them money whereas Abu Dhabhi source of income is from Oil ...

In short if we keep out the Oil from UAE then they suerly have huge economic activity but the cost is even higher and they are continuously in unfavourable condition ... So if your revenue is high but you are a loss making entity then eventually you will be closed ... Same is the condition of UAE without oil ...
Click to expand...

"Bank Corrupt" - Please explain, what does that mean?

Nonetheless, You couldn't be more wrong.

"Currently, the non-oil sector contributes 70 per cent of the UAE’s GDP with oil contributing the remaining. By 2021, the non-oil sector will contribute 80 per cent"

http://gulfnews.com/business/econom...ution-to-gdp-to-swell-to-80-by-2021-1.2092158


Secondly, with 70% of our GDP contribution from non oil, we are in a very good position, considering our local population is only 1.5m
 
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Khafee said:
"Bank Corrupt" - Please explain, what does that mean?

Nonetheless, You couldn't be more wrong.

"Currently, the non-oil sector contributes 70 per cent of the UAE’s GDP with oil contributing the remaining. By 2021, the non-oil sector will contribute 80 per cent"

http://gulfnews.com/business/econom...ution-to-gdp-to-swell-to-80-by-2021-1.2092158


Secondly, with 70% of our GDP contribution from non oil, we are in a very good position, considering our local population is only 1.5m
Click to expand...
Sir its not about economy but about revenue of the gov which were primarily being generated from oil, sale of property and other gov services but now gov is finding it realy difficult to make both ends meet and here comes the sales tax ... If everything is fine then why introducing sales tax on heavily inflated economy ? Isnt it counter productive ?

Believe me my friend UAE is not in a good shape they are trying it hard to maintain it but uae will be in lots of trouble when oil is gone ... Still i would say that out of all the arabs dibai shiekhs are much better infact genious as they made dubai one of the central city of the world out of the desert but it has alot of backing from abu dhabi oil resources ...
 
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IMG_4196.JPG

Turkey's T-155 Firtina Howitzers enter Qatar during the early days of GCC crisis.
 
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Mrc said:
I have no clue why Pakistan never opted for fritna..... its a monster... beautiful monster
Click to expand...
There have been talks of Firtina II, I don't know the latest developments regarding it. According to C4 Defence, MKEK also announced 155mm Guided Projectile (GPS/INS, Laser Seeker) Project. Anyways, better no off-topic posts.
 
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. . .
The Accountant said:
Sir its not about economy but about revenue of the gov which were primarily being generated from oil, sale of property and other gov services but now gov is finding it realy difficult to make both ends meet and here comes the sales tax ... If everything is fine then why introducing sales tax on heavily inflated economy ? Isnt it counter productive ?

Believe me my friend UAE is not in a good shape they are trying it hard to maintain it but uae will be in lots of trouble when oil is gone ... Still i would say that out of all the arabs dibai shiekhs are much better infact genious as they made dubai one of the central city of the world out of the desert but it has alot of backing from abu dhabi oil resources ...
Click to expand...

I would like to believe you, but ground realities, and statistics, contradict your claims.
 
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Khafee said:
I would like to believe you, but ground realities, and statistics, contradict your claims.
Click to expand...
Lets agree to disagree ... Lets see how the future gets shape up ...

In my previous role I was looking at revenues of APP (Arabian Penunsila and Pakistan) and we had a consistent revenue drop in our revenues despite of being market leaders except for our monopoly product and the reason of decline in our revenue was due to decline in business activities of our Clients (all the multinatinationals in FMCG, Telecom sector and in gov as well are our Clients and we ourselves were a fortune 500 company) ... Previously our overall growth target was focused on middle east but now we were consistently underperforming against budgets ... Most notably our social sector (gov projects + NGOs) business was on declining trends as both of the governments were continuously in budget constraints ...

I wish that our middle east brothers get strong economy but unfortunately gulf economy is oil-driven and only KSA is involved in the manufacturing of licensed products mostly,,, there is no R&D, designing and original products and nor the need is being felt ...

The issue of our Gulf state is with such a high standard of living they do not have Plan B yet (except for Dubai) for keeping the economy at such a high level in the post-oil world ... With regards to Dubai, it is too much dependant on external factors, external workforce, external companies, only service sector with such a huge expenditure ... Like crisis of 2009 leads to a situation where UAE was unable to meet both ends meets ... I understand you don't know me, therefore, my opinion does not matter to you but I am posting an analysis of Reuters for you :

http://www.reuters.com/article/us-e...-billion-of-dubais-debt-idUSBREA2F0EQ20140316
 
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The Accountant said:
Lets agree to disagree ... Lets see how the future gets shape up ...

In my previous role I was looking at revenues of APP (Arabian Penunsila and Pakistan) and we had a consistent revenue drop in our revenues despite of being market leaders except for our monopoly product and the reason of decline in our revenue was due to decline in business activities of our Clients (all the multinatinationals in FMCG, Telecom sector and in gov as well are our Clients and we ourselves were a fortune 500 company) ... Previously our overall growth target was focused on middle east but now we were consistently underperforming against budgets ... Most notably our social sector (gov projects + NGOs) business was on declining trends as both of the governments were continuously in budget constraints ...

I wish that our middle east brothers get strong economy but unfortunately gulf economy is oil-driven and only KSA is involved in the manufacturing of licensed products mostly,,, there is no R&D, designing and original products and nor the need is being felt ...

The issue of our Gulf state is with such a high standard of living they do not have Plan B yet (except for Dubai) for keeping the economy at such a high level in the post-oil world ... With regards to Dubai, it is too much dependant on external factors, external workforce, external companies, only service sector with such a huge expenditure ... Like crisis of 2009 leads to a situation where UAE was unable to meet both ends meets ... I understand you don't know me, therefore, my opinion does not matter to you but I am posting an analysis of Reuters for you :

http://www.reuters.com/article/us-e...-billion-of-dubais-debt-idUSBREA2F0EQ20140316
Click to expand...

Like I said, ground realities are very different. Secondly, There is a "Plan B," and a "Plan C," it's just not something I will discuss in public.

As for VAT - show me a country in the world, except GCC that does not have taxation. There is nothing wrong in diversifying govt revenues, at the same time, subsidies need to stop. Nonetheless, let's see if it actually happens.

Regards
 
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Khafee said:
Like I said, ground realities are very different. Secondly, There is a "Plan B," and a "Plan C," it's just not something I will discuss in public.

As for VAT - show me a country in the world, except GCC that does not have taxation. There is nothing wrong in diversifying govt revenues, at the same time, subsidies need to stop. Nonetheless, let's see if it actually happens.

Regards
Click to expand...
Yes, VAT is not an issue but an economy which is already suffering from high inflation its not good ...

lets agree to disagree ...
 
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