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Saturday, November 7 - 2009

Finance and Economy

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Saudi scores in business confidence over UAE

Saudi Arabia: 5 hours, 23 minutes ago
US-based research and polling firm Zogby International has released a survey of business confidence in the Gulf revealing that senior executives in the UAE are much less confident about their economic prospects than their counterparts in Saudi Arabia, Khaleej Times has reported. The findings were based on interviews with 126 chief executives and other senior managers in the UAE, Saudi Arabia and Qatar — during October 22 and 23. From 47 respondents in the UAE, 15% said their businesses were flourishing while 57% said their businesses were in decline, while among 67 Saudi respondents, 46% said they were prospering, and only 15% said they were in decline.

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Salaries have fallen in most sectors

UAE Cost of Living Report: Salaries fall as crisis takes its toll

United Arab Emirates: Tuesday, October 27 - 2009 at 12:50
Nowhere has the effect of the financial crisis been more evident than in the job market, as a number of companies, particularly in the real estate sector, have been forced to make swingeing cuts in order to deal with the fall out from the global financial crisis. Kershaw Leonard has released its annual Cost of Living report, the sixth installment of the paper. After comparing the UAE market in mid-2008 to the California gold rush of the 1800s, the Dubai-based recruitment and HR consultancy has said that the market in 2009 now resembles 'survival of the fittest'.

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