Have you been following what’s going on in the UAE?
First I saw these two articles a couple of days ago:
Dubai cancels 1,500 work permits daily
Many companies have given redundant employees a grace period of two to three months to look for alternative work. Jobs are, however, rare to find with most companies freezing recruitment.
Report sees Dubai population fall(requires registration).
Dubai’s recent surging population growth will reverse over the next two years as the troubled, but important, real estate and construction sectors cause the number of immigrants to slow and many expatriates to leave, a report said on Wednesday.
And today Juan Cole posted the follwoing link
3000 Abandoned Cars at Dubai Airport as Economy Turns Down
Local police have found at least 3,000 automobiles — sedans, SUVs, regulars — abandoned outside Dubai International Airport in the last four months. Police say most of the vehicles had keys in the ignition, a clear sign they were left behind by owners in a hurry to take flight.
The UAE bubble bursting?