Oh yes? World economy Recovering?

[jumpmrt]

Even the oil rich Arabs are in deep shit.

Chartered Bank and HK Shanghai are burnt in this one. Question is how much for UOB DBS & GIC TemaSICK this round?

http://hk.news.yahoo.com/event/fc/20091127indubaiworld.html


負債4600億 杜拜瀕臨破產
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中東的阿聯酋杜拜政府宣布，負債達五百九十億美元（約四千六百億港元）的主權投資公司杜拜世界（Dubai World），要求債權人延長債務償還期六個月，以便對杜拜世界進行重組。消息震撼環球市場，一眾債權銀行包括匯豐固然受到衝擊，投資者更擔心事件打擊全球復蘇...
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曾俊華：迪拜影響香港不大
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(法新社) 11月27日 星期五 12:20

（法新社杜拜26日電） 杜拜提出延長「杜拜世界」（Dubai World）償債期限的要求後，引發各金融市場關切，但分析師表示，杜拜有阿布達比（Abu Dhabi）這個口袋麥可麥可的兄弟當靠山，用不著擔心債務問題。...
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[jumpmrt]

http://sg.news.yahoo.com/afp/20091127/tts-germany-steel-company-cuts-thyssen-509a08e.html


Thyssenkrupp to axe 20,000 jobs

AFP - Saturday, November 28

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German steelmaker Thyssenkrupp is set to reduce its workforce worldwide by about 20,000 in the coming fiscal year, its CEO said as the firm battles with record losses and an industry in crisis.

BERLIN (AFP) - – German steelmaker Thyssenkrupp is set to reduce its workforce worldwide by about 20,000 in the coming fiscal year, its CEO said Friday, as the firm battles with record losses and an industry in crisis.

Speaking as the company, Germany's largest steel producer, unveiled its annual report, Ekkehard Schulz said: "The effects of the crisis will be temporary. We will return to our long-term growth path."

"On September 30, 1999 the group had around 185,000 employees. At the end of the fiscal year on September 30, 2009, it was more than 187,000 ... at the end of the current fiscal year Thyssenkrupp is ... expected to have around 167,000 employees," he said.

"All the key personnel measures were decided in agreement with the employee representatives after in some cases heated discussion," Schulz added.

Earlier this month, the group announced that it had made a record loss of 2.36 billion euros (3.5 billion dollars) in its 2008/2009 fiscal year.

The firm, which manufactures elevators, submarines and yachts in addition to steelmaking, added that sales in the year to September 30 had plunged by 24 percent to 40.6 billion euros.

Battered by the financial crisis, steel output in Germany is set to collapse by 30 percent this year to a level last seen in 1963, sector federation WVS said in November.

Slumping demand in the sector has begun to stabilise, however.

 

[theblackhole]

dubai world in deep shit...causing the world to tumble along....so called recovery is now in real danger of another financial collapse...what a shitty christmas present for everyone...wake up singaporeans!

 

[TeeKee]

i am searching for Dubai One World with SGP Gabramen/ Singapore Sovereign fund linkages....on the Internet...no news....

So hush hush...hehe...

Used to read about SGP Lau LeeRegime visitings UAE/Dubai plenty of times....to buy out some companies in Europe...hehe..

政府破产啦!

 

[singveld]

it is coming to be sinkie worse nightmare, double dip.

soon, your property price will be worth much less than you expect.

 

[commoner]

besides state of california government going bankrupt, 4 other states are going the same way soon,,,,,

don't bet on recovery just yet,,,,,,,,,,,,,, asia is not doing that great too

 

[halsey02]

i am searching for Dubai One World with SGP Gabramen/ Singapore Sovereign fund linkages....on the Internet...no news....

So hush hush...hehe...

Used to read about SGP Lau LeeRegime visitings UAE/Dubai plenty of times....to buy out some companies in Europe...hehe..

政府破产啦!

Wasn't it the 'to buy' came & bought the Chao Ta Semi CON, which; everyone is mumbling..."don't buy, don't buy"...

Now the 'to buy' got no money...they gonna pay in CAMELS?..not the cigarettes!