Did recession effect Qatar

rajeev70
By rajeev70

I am looking how recession has effected Qatar. Is that the same what you feel 10 months back and now. Do you feel any difference. Please comment

By heero_yuy2• 5 May 2009 22:46
heero_yuy2

...as they were afraid of deducting their monthly basic 'salaries', leaving the rest of the 'slaves' in more inadequate necessities and more improper human rights.

The big spenders have to maintain their 'image' in this times of crisis, y'know?

"Everything in this book may be wrong." Illusions: The Adventures of The Reluctant Messiah by Richard Bach

By shoeaddict• 5 May 2009 22:32
shoeaddict

if people are not willing to buy basic commodities such as rice,cooking oil and laundry soap is it called recession?

By cynbob• 5 May 2009 12:32
cynbob

No, Qatar is not "safe from the Gobal Crisis."

This is a GLOBAL crisis, and as far as I can tell, Qatar is on this planet/globe; thus, is experiencing economic hardships.

The propaganda machine is alive and well in your mind.

By rajeev70• 5 May 2009 11:56
rajeev70

Most of the workers in a company are idle because companies dont have sufficient work to give them. Educated professionals find a way or other for new opportunities. The case of labours will be worse they dont know how to search for new ones and their options are limited.

When ever i look in to huge projects i feel a stand still.

However we can hope for the best as Stock markets around the world started picking up.. This will slowly start reflected in all areas.

By atif242• 5 May 2009 11:52
atif242

Like other countries, Qatar is also effected too but not on large scale as life is going smooth here too.

.

Few companies & banks have done some amendments by firing their employees just incase but overall, Qatar is safe from Global Crisis

-------------------------------------------------------

Everybody wishes they could go to heaven but no one wants to die.

By chevydjak• 5 May 2009 11:36
chevydjak

" AN END DOES NOT JUSTIFY THE MEANS "

By bingbong• 5 May 2009 11:34
bingbong

The government just pretend that the are not affected but the truth is big YES....

By bint_maldeni• 5 May 2009 10:06
bint_maldeni

yes loans are insured - BUT insurance companies will pay for "specific" reasons only.

as for my friends, they were terminated due to poor perfrmance and not because of recession... funny though, they terminate u coz of poor performance after 5 yrs of service.!

acccording to my friend, there was a memo from labor saying that all those who were terminated should be sent back to their home countries ASAP and cancel their visas or else bank will be penalized for abt 10k per case...

yes Ive ask them to go to labor and their embassy... coz if the bank does opena case on this..and worst come to worst...the police cant take them from there unless and until the embassy will surrender them.

but i sicerly hope it will not reach that point.

By A GANI• 5 May 2009 10:02
A GANI

4000 people brought for some project in qatar by al jabor eng. , due to recession the jobs is in shelf so 4000 people a back to their respective country same time

By chevydjak• 5 May 2009 09:52
chevydjak

without being transferred, that's illegal...Doha bank can sue him...

Regarding your questions:

1. As far as I know, All loans has insurance... If I am not mistaken they will be the one who will pay for the remaining loan...else the company...

2. Maybe they are just harassing your friend... labor department is the answer :D...Trying is better than doing nothing :D

" AN END DOES NOT JUSTIFY THE MEANS "

By bral1960• 5 May 2009 09:49
bral1960

I relocated in Singapore from Doha few months ago and as per mails I got from local friends few weeks ago several Construction Companies and Banks fired plenty workers; this behaviour will continue until the end of this year.

Good luck

Angelo

By bint_maldeni• 5 May 2009 09:34
bint_maldeni

not only QASCO, include the 450 from Doha Bank.

Fortunately, the 1st batch terminated were given NOC's, but the rest NO....

I have a friend who was terminated last Jan, they were given 5 months to transfer sponsorship to be able to continue paying their loans... i dont know how s2pid this person was, but in 5 months he didnt even get a call back from any company, last thursday they called him to HRD and said that were giving u a week to clear out ur debts and we'll send u home, if u cant pay we will report to the police. Another friend has already started in Qatar Foundation, only waitng for NOC from Bank, but bank refused!

Question:

1- if NOC will not be given, then how will the get a job to get salary to pay for their debts???

2- How will they pay their dues if they are in jail??

By Saurabh7• 5 May 2009 09:16
Saurabh7

more than 300 employees got sacked from QASCO....Qatar is still unaffected ai? :P

By DaRuDe• 5 May 2009 08:55
DaRuDe

when they will fire you then you will know.

By rajeev70• 5 May 2009 08:30
rajeev70

vegas that is a very good slogan

By Vegas• 5 May 2009 08:27
Vegas

You can't teach experience...

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