World Online Money News » Sweepstakes http://moneynewsworld.com The Latest News About the World of Money Wed, 14 Jul 2010 15:16:17 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 Dubai World Financial Situation and How It Affects Others http://moneynewsworld.com/money/dubai-world-financial-situation-and-how-it-affects-others/ http://moneynewsworld.com/money/dubai-world-financial-situation-and-how-it-affects-others/#comments Sat, 19 Dec 2009 16:52:26 +0000 admin http://moneynewsworld.com/?p=78 Over the past few months the prices of used cars and electronic goods have risen as the Dubai world financial situation gets worse. This has a spiraled effect on other economies like Kenya which depends heavily on this rich Arab nation. For instance the increase in price of second hand cars from Dubai means less Kenyans can afford this leading to un-utilized capacity. It has been estimated that close to ten thousand Kenyans live and work in the UAE. Trade relations between the two countries have increased over the years with a lot of Kenyans now regularly traveling to UAE to buy household items, automobile spare parts and office appliances.

Also another party taking a keen interest in the latest financial woes of Dubai is British Airways. It is reported that British Airways have cut down flights to Dubai. Also there could be an inflation of oil prices because of the economic crisis. The Central Bank of UAE has in recent times offered bail outs to the local and foreign banks in the country. However, there have been shock waves in the world markets as even the Dubai World conglomerate is pleading with its creditors to give it a six-month expansion in paying its $60m debts. Dubai World which is the governments investment flagship and popularly known for its slogan – ‘the sun never sets on Dubai world’ has been engulfed in a serious debt crisis.

Fears have been raised from countries like the USA and China about the fact that the economic meltdown in the Gulf can distract the recovery from the world’s financial crisis which could eventually spill over into the financial sector. The Dubai World Financial situation is also sending shivers the spines of banks in the UK. A lot of the commercial banks are vulnerable to the UAE’s financial crisis.

Because of this situation some financial analysts have raised doubts about a recovery as there seems to be a lack of details on the crisis situation. Some have gone as far as saying that this is financial meltdown part 2. It has lead to the down rating of a lot of state-owned related institutions.

Dubai which is just one of the small emirates has in recent years transformed its economy characterized by very tall buildings with the huge presence of foreign workers. Experts have therefore purported that it is a disintegration of asset bubbles.

Tags: dubai world, dubai business, dubai property, dubai financial market, UAE

]]> http://moneynewsworld.com/money/dubai-world-financial-situation-and-how-it-affects-others/feed/ 4 PayPal Holiday 2009 Sweepstakes Win Cash! http://moneynewsworld.com/money/paypal-holiday-2009-sweepstakes-win-cash/ http://moneynewsworld.com/money/paypal-holiday-2009-sweepstakes-win-cash/#comments Wed, 02 Dec 2009 16:47:19 +0000 admin http://moneynewsworld.com/?p=64 Pay Pal is a system that has received over 20 awards for being the most reliable and most trusted money transfer channel. It has over 150 markets in the world over, and accepts over 20 currencies of the different nations. It has enabled global e-commerce to spread far and wide. Already 220 Million Pay Pal accounts worldwide. PayPal is sponsoring an interesting sweepstakes this year for the Holiday. The PayPal’s Wishing Wonderland Holiday Sweepstakes and Instant Win Game where you could win $50,000. in Cash or thousands of other great prizes. Don’t miss your chance and go www.paypal.com to register. You just have to  enter your email address for your chance to win $50,000. If you are already a Pay Pal Customer you will only need to enter the email address that you use as your Paypal transaction account. With that Paypal address you will be entered into the sweepstakes every time you make a purchase with Paypal. Sweepstakes end on December 24, 2009  – for US resident only. See Paypal website for the official rules.

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Tags: PayPal Sweepstakes, Paypal Holiday Sweepstakes, Paypal.com, Pay pal.com, www.paypal.com, win cash

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