this is really getting cute. instead of opening up their press as the country progresses, they decided to ban all negative press reporting that might destroy their market:
Instead of moving toward greater transparency, the emirates seem to be moving in the other direction. A new draft media law would make it a crime to damage the countrys reputation or economy, punishable by fines of up to 1 million dirhams (about $272,000). Some say it is already having a chilling effect on reporting about the crisis.Last month, local newspapers reported that Dubai was canceling 1,500 work visas every day, citing unnamed government officials. Asked about the number, Humaid bin Dimas, a spokesman for Dubais Labor Ministry, said he would not confirm or deny it and refused to comment further. Some say the true figure is much higher.
At the moment there is a readiness to believe the worst, said Simon Williams, HSBC banks chief economist in Dubai. And the limits on data make it difficult to counter the rumors.
Kyith is the Owner and Sole Writer behind Investment Moats. Readers tune in to Investment Moats to learn and build stronger, firmer wealth foundations, how to have a Passive investment strategy, know more about investing in REITs and the nuts and bolts of Active Investing.
Readers also follow Kyith to learn how to plan well for Financial Security and Financial Independence.
Kyith worked as an IT operations engineer from 2004 to 2019. Currently, he works as a Senior Solutions Specialist in Fee-only Wealth Advisory firm Providend. All opinions on Investment Moats are his own and does not represent the views of Providend.
You can view Kyith's current portfolio here, which uses his Free Google Stock Portfolio Tracker.
His investment broker of choice is Interactive Brokers, which allows him to invest in securities from different exchanges all over the world, at very low commission rates, without custodian fees, near spot currency rates.
You can read more about Kyith here.
- Singapore Savings Bonds SSB November 2023 Yield Bashes Higher to 3.32% (SBNOV23 GX23110V) - October 2, 2023
- How to Inflation-Adjust Your CPF LIFE Basic or Standard Plans - October 2, 2023
- Historic Bond Move Has Killed This Crazy Portfolio Strategy (for now…) - September 30, 2023