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Dubai
Dubai
Dubai
Dubai
Dubai
Dubai
Dubai
Dubai
Dubai
Dubai
Dubai
Dubai
Dubai
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Dubai

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  • 1. Global Economy-Recent affairs<br />
  • 2. United Arab Emirates<br />
  • 3. Dubai - Economy<br />GDP : : $835 billion in 2009 <br />(compared with $1.1 trillion in 2008). <br />Oil 5%, non-oil 95%.<br />Main non-oil industries: Trade, Tourism.<br />Manufacturing and Transport.<br />Diversified economic base.<br />
  • 4. Infrastructure Based on Tourism <br />
  • 5. Recession came into picture<br />Dubai World is Government Company having central role in Dubai economy during the construction boom.<br />They borrowed a sum of US $ 60 billion for investing in real estate development .<br />During the recession, investors from USA and other countries whom invested their money at Dubai want it back. <br />Economic growth has fallen sharply from nearly 8 percent in 2008 to under one percent.<br />
  • 6. What Happened then<br />More than half of the construction projects in the United Arab Emirates, worth $582 billion, have been put on hold..<br />Some projects are still going ahead to the value of $10 billion bailout from the UAE's capital, Abu Dhabi..<br />But, many workers are unemployed and stuck here..<br />
  • 7. Gulf countries<br />Other Gulf countries were in a position / condition to help UAE by providing subsidiaries . <br />The Saudis, along with other states, have concentrated on infrastructure projects and helping the private sector take a larger role in developing the non-oil and gas sectors.<br />Kuwait Funded for Future Generations of $250 billion. <br />Even Libya had provided $50 billion in its Oil Reserve Fund.<br />
  • 8. Effect on Global Market<br />Economists fear that the latest Dubai financial crisis could have a major impact around the world.<br />So there was a sudden hike in oil price of <br />$42->$70/barrel. <br />Directly affects the global market as the price of crude oil plays the vital role in the global economy.<br />
  • 9.
  • 10. Effect on Indian Economy<br />A large number of Indian companies have exposure in the region, and over 4.5 million Indians live and work there..<br />Indian tourists -nearly 5 lakh tourist visit every year –alomost 5% impact on Dubai economy.<br />Indian workers in Dubai–00.05 % remitance to Indian Economy<br />Investment by Indian bankers ,companies are 2% to Dubai economy.<br />Indian exposure to Dubai economy –staggering 10 to 12 % intermsof investing in properties ,hotel and other business.<br />
  • 11. Indian Companies<br />India export to UAE stood a $23.92 billion in 09 Dubai world crisis effect Realestate, Baking and Constructions business.<br />NagaarjunConstruction have 440 flat project.<br />L&T invested about $20 cr.<br />Voltas of about Rs.400cr.<br />
  • 12. Present status<br />The Dubai economy is forecast to remain in recession in 2010, the second year in a row that the emirate has experienced negative growth..<br />
  • 13. THANK YOU<br />

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