Entries categorized as Dubai
Burt Hill cutting 111 jobs in Dubai
Architectural design company Burt Hill has announced 111 redundancies at its Dubai office following a strategic review of the business. The job cuts were carried out in response to the slowdown in Dubai’s property market, the US company, which designed the MotorCity project being developed by Union Properties, said in a statement on Tuesday. “This More...
Shuaa Capital starts redundancy talks with 21 employees
Dubai-based investment bank Shuaa Capital yesterday confirmed it had started redundancy consultations with 21 staff in order to realign its cost base. “Staff affected representing nine per cent of Dubai-based employees are from across the business, with the majority being in middle and back office positions and from non-fee-based businesses,” the company said. Shuaa is More...
UAE Poised For Two-year Slump
The UAE is poised for two years of slow economic growth as its property sector is hit by the global financial crisis and banks rein in expansion, the central bank governor said. Growth in gross domestic product (GDP) in the world’s fifth-largest oil exporter would fall to low-single-digit levels in 2009 and 2010, Sultan Bin More...