Arab Emirates were not immune to the global financial crisis that hit in particular real estate and banks in the emirate of Dubai, which turned to her older sister Abu Dhabi to help them. Some experts believe that the crisis will not last more than 6 months. News from the UAE in particular, and the Gulf states in general, indicate that the global financial crisis rocked the region as a whole, especially real estate internal and external where investments because of the financial entanglement between these countries and the West in loans bad assets or issues against the backdrop of the dramatic decline in oil prices and gas. In this context, Foreign Minister of Kuwait Sheikh Mohammad Al-Sabah revealed last January that the Arab Gulf states lost by the crisis during the four months just $ 2.5 billion. In the UAE alone it amounted canceled construction projects worth almost $ 260 billion, as issued by the real estate company "Emaar" Foundation "Morgan Stanley" and the bank "HSBC" data. He stopped working entirely or in part in a number of "palm" islands of the most important "Nakheel Harbour & Tower", where the work was under way to build the highest tower in the world. Since Dubai has received the bulk of the raging financial storm that has yet to wane, the duration of her sister Grand Emirate of Abu Dhabi least hit by the crisis, and the richest money and oil and gas, with the help of an initial value of 10 billion euros in order to be able to pay interest bank loans owed them. In addition, the Government of Abu Dhabi has worked in recent months to buy many of the construction projects, which failed to bridge the Emirate of Dubai for its inability or salvaged.
In spite of the current difficult situation in the Gulf and the UAE, which reflected negatively on real estate prices, which fell between 25 and 40 per cent, and the foreign employment situation, the economic expert, Dr. Suheil Hamada, director of the group "anamnesis sunset" European marketing for Economic Consultancy, It seems optimistic to a large extent. In an interview with our site about the repercussions of the crisis on the UAE Hamada expressed his belief that the effects of the crisis will begin to decline in the next six months. Speaking about the size of the affected UAE crisis, Hamada, who works for nearly thirty years in Abu Dhabi said was economic adviser at the Chamber of Commerce and Industry in the emirate, said that the repercussions of the crisis was to stop local and international banks several indirectly finance new projects, particularly construction projects. But economist continue to optimism, expressing his belief in this context that this situation is not only a "wait by the stage banks will not exceed half a year after the banks will reconsider their positions and screening projects proposed for funding and work on a new basis
He added Hamada said that the financial and banking sector in the UAE was one of the most sectors that suffered the negative repercussions of the financial crisis, which severely affected the reconstruction projects. But "anamnesis Group," group director believed to be pumping medical Abu government for $ 20 billion to support the four major banks in the country, has reflected positively on funding the movement in recent weeks, where "we noticed that a number of projects began preparations to start construction and acceptance of offers and tenders offered by construction companies. " Hamada was considered that the advantages of the crisis when it revealed those companies that did not prove its seriousness and the financial ability to afford to meet their obligations. He attributed the economic expert, the reasons for the bankruptcy of many companies in Dubai to enter the real estate development companies to the market without previous experience, in addition to the entry of foreign investors with loans to the real estate sector, which was growing very fast paces in light of weak oversight. In spite of the crisis UAE officials still talking enthusiastically about a giant urban plan they called "Abu Dhabi 2030", will cost hundreds of billions of dollars. Hamada has displayed during his talk with some of our details, saying it was aimed at infrastructure and equipment. In addition, there is a "Saadiyat Island" project, one of the largest nearby islands of Abu Dhabi city and constitute an area of about 18 per cent of the city area. This project alone will cost $ 180 billion, according to an economist.
Hit countries entirety several years before the financial crisis and targeted real estate and banks, that their influence is still so far to most countries, most notably the United States, which were considered formerly of the biggest economic nations, as the financial crisis significantly affected the internal and external investments due loans and assets bad, as that of the main reasons Almqahth financial crisis unexpected decline on oil and gas prices, and the Gulf states it has had a large share of this crisis, according to Statistics Gulf States has lost nearly $ 2.5 billion, and the United Arab Emirates was planning to set up construction projects Huge where it was canceled, ranging projects that were canceled nearly $ 260 billion value.
The importance of the economy in contemporary life
Singles economy: namely, that the individual truly fulfills decent living through work and self-reliance and livelihoods, which includes all physical activity or my mind is then reached into a commodity or to achieve a particular service leased by the person the product, and the money earned by the individual of his labor, known as the ceiling economic and physical capabilities, so the economy is a method of organization through which the choice of a lifestyle consistent with the physical capacity.
International Economics: Is the science is based on the collection of economic transactions between the countries of the world, and is interested in trade relations between the states and the ability to compete in the global market for products, so that this international economy affect the state and its place among nations and is considered the standard of the power of the state standards, a strong state is controlled on the production of a particular commodity or more of the commodity in the world market and thus there is a high yield of money, which affects the country's economy. Through this article we will recognize the importance of the economy in a person's life and way of financial planning for the individual and also the importance of the international economy.
The importance of the economy in a person's life that domestic failure and deterioration of the standard of living falls on the poor economy, or in other words, the misuse of money, because this is money that is being earned him a fixed roof at the person and not open, and therefore this economy must be between extravagance and thrift that is, the person moderate in personal and family expenses, and the informal economy has an impact on the individual and his life, including:
To get rid of poverty: one of the causes of poverty is the mismanagement of money or what is known as the failure of individual economic system that leads to poverty, the lack of care to cover the needs of the job and save money for the future and burdens. Achieve a standard of living well: those who have their income is limited and insufficient should seek to achieve a good standard of living, the economic system of money can achieve this by exploiting some money in meeting the goals, most important thing to be keen upon the poor person is to find small projects successful intervention it returns well financially, and this can not be achieved only if applied in the economy and saving money part of it for projects that achieve a good standard of living, economy gives the ability and courage to achieve the ends through the availability of part of the money saved.
Bring happiness: the economy with money and know how to dispose of it properly achieves the happiness of man and also for the entire family, because the money is a way to avoid and deal with problems where the person is located, and there are a lot of crises in life dealing with money only and not, as some believe, for example, when buying something CAR important or self-entertainment can only be achieved with money.
Financial planning for the individual method is no doubt that each one of us looking for financial stability in his life, which is a major pillar in the life which is known as stability will the standard of living, and the idea of financial planning may be vague when many or the belief that it confined to the field of companies and countries only, and this It is wrong is also located at the individual level and the whole family, and the idea of financial planning is based on the identification of the individual financial goals they wish to receive it, and there are methods that can contribute to financial planning, namely: setting financial goals and specific time-bound: You must do the Status of objectives to be achieved during the time period . Knowledge of the head money: You must specify all of its holdings, such as the house, the car, the debt discount. Knowledge of aspects of exchange in order of importance: You must specify all aspects of exchange in your life and can be arranged by: the basic needs: the needs that can not do without, such as food, drink, and at home. Secondary needs: the needs that can be dispensed with, but you need them such as a car, computer, and mobile phone. Amenities: It is you do not need and unnecessary in your life but of supplements such as perfumes, expensive clothes. Identify sources of income: You must specify the amount of income and begin to divide them on the aspects of exchange are a beginner it is important to the basic needs and then the secondary needs and luxuries. The division of revenues and expenses: then be deducted the amount of income the amount of expenses, and should be the amount of income is greater than the amount of expenses and if the contrary is known economic helplessness, and must be considered luxuries and try to avoid them so that things be clear if there is a financial deficit. Savings: Value raised from the amount of income the amount of expenditure must be placed in savings and not final disbursement, because this money is of great significance in the future person has been located in a dilemma or a particular crisis resolves Baldechr located, and this Aldechr can be used in many aspects, including: buy critical needs: such as a car, house, home furniture. Investment capital: income can invest in a particular project, preferably by the amount of money saved and no more of it. And presumably you earn in the $ 700 nations month were expenses equal to 450 US states, and thus the value of the remaining of the launch of $ 700-450 dollars is equal to $ 250, and thus the value saved in the month to $ 250 a $ 3000 per year, and this amount may give the opportunity to improve the standard of living the purchase of the necessary requirements to open a door or a small project or successful until at least avoid the fear of future financial burdens.
The importance of the international economy successful state is that the economic paybacks Aaleguela There is then the deficit but a surplus, and if the state deficit are suffering from poverty and submission and the need to console and support the other states and the inability to build economic relations with neighboring countries, and this destroys the structure of the state and its place between countries and also poverty whole people, and therefore economic power have an impact on many aspects of the state, including: military force: Always state needs to spend on its military term of equipment, machinery, and ammunition, and in the absence of a strong economy, there would be a military power. The status of the state: the state should have an impact in the world, or at least to be famous in the production of a particular commodity are better than others, because the state's ability to control the global market gives her place among the nations and the ability to build economic relations with many countries. Create and invest large projects within the State: countries that have a surplus in the budget have the ability to open large projects within the state, and this addresses the important and many such issues (unemployment, successful and employment opportunities, and the cohesion of the state, and welfare of the people), and this we need to even be eliminated poverty and open the door for young people to work and production and creativity. The development and prosperity of the state: When you open projects and the elimination of unemployment and opening opportunities for young people to self-realization, and work there is a producer and personnel producers, production is is the foundation to any country to prosper and progress forward, because all of the country's working and there are production and there is a good per capita income there is reconstruction, A family is made up and there are those who realize their dreams etc ..., then there is a great country prosperous and strong Guetsadia.
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