Posted Sat, 28/11/2009 - 06:29
UK economy News - Friday 27th November 2009
Worldwide stock markets lower again on Dubai fears |
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Friday 27th November 2009
Worldwide stock markets have again been marked lower on concerns that the Dubai saga could overflow into the general worldwide money markets. While the ruling family in Dubai has moved to allay market fears about the future, there is some concern that we could possibly move back to a similar credit crunch scenario that we saw two years ago - but this time against an already weakened worldwide economy. Many western banks and Western businesses have significant exposure to Dubai which is starting to cause a ripple effect across the world. While it is still very much early days regarding the Dubai issue there are already fears it could impact upon demand for commodities such as oil if the worldwide economy was to slow again. This particular issue has "come from nowhere" although in reality the various parties in Dubai have built a $60 billion deficit over the last few years trying to expand the economy and attract more investors from overseas. Many people believed this expansion and investment programme was too much too soon and in many ways they have been proved correct in their assumptions. Confidence has taken a hit in the short term and confidence was already fragile due to the difficulties already being experienced around the world.
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Comments
by Anonymous - 28 Nov 2009 - 02:12
With the recent news regarding Government loans to banks without the shareholders or tax payer's being informed, you'd think there'd be a public outcry demanding Info on how much dosh are said banks...into...in Dubai. Also...what percentage of lending went through London to fund the
Dubai World
by Anonymous - 28 Nov 2009 - 01:31
The world Governments need to wake up and realize what is really happening that is the primary drivers such Oil Markets etc are all to few. Currently Global Trading is mostly on Communications, IT and apps, the transport industry, Oil and Utilities. We need new patents it’s as simple as that. Then we can begin to reverse this stagnant Global Financial downturn.
We need new Inventions to invest in and trade with yet until Government’s of all countries get their act together and realize that the systems to secure such important issues as Copyright and fast Patent Protection are still (so to speak belonging) to the ‘Dinosaur Age’ in relation to technology?
That, which stops inventions from coming out on mass, is the cost of patent protection and the thought of after much work the idea gets stolen and used without payment.
If the I.C.C.O System logged through Business Management Advisor Mr Peter Singlton with business link in Poole Dorset was to be rolled out as planned and designed by myself the economies of all participating countries would rise considerably.
The I.C.C.O System has the ability to generate new business on a scale as never before possible under current legislation. It is primarily designed to replace the current outdated and slow ‘Copyright and Patent Protection Processes’ with built in safety nets for those who invent.
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