Daily Recession covers the world as it goes into recession. The financial crisis, stock market crash, bankruptcies, job cuts, and the turmoil that follows.

20,000 Indian workers to be flown out of UAE

Posted: February 8th, 2009 | Author: | Filed under: Recession News | Tags: , , , | No Comments »

According to figures released by Indian Consulate in Dubai, 20,000 Indian workers, mostly labourers working in the construction industry, are leaving UAE in bulk booked flights to India.

They are either being sent back home on long leave, or are being redeployed to work on projects in other Gulf countries, such as Qatar.

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Mashreq Bank cuts 175 jobs

Posted: February 5th, 2009 | Author: | Filed under: By Location, UAE | Tags: , , | No Comments »

Mashreq has announced that it has axed up to 175 staff, four percent of its global workforce, to reflect reduced market activity.

Read more about Mashreq Bank cuts 175 jobs (243 words, 1 image, estimated 58 secs reading time)