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Local News:

a)Hike in petrol prices: Sep 1 saw more than 30% jump in petrol prices which would ultimately drive up the living expenses.Dubai especially is known for hike in rents upto 30% every year,each time managing to shock the residents and now for the times to come grocery bills,school fees and an evening outing would cost much more.The Asian expat community however still complains that if there is some aspect that doesnot seem to improve then thats the figure on the paycheck over the months.

b)Interestingly,Standard Chartered have started their Phone banking in Hindi and Urdu languages besides the standard offering in English and Arabic.Ofcourse, the Indians and Pakistanis being a large part of the expat population, this time i guess the other banks would follow suit quickly.

c)An AbuDhabi Investment house worth AED 200 million has been setup to build on various investments such as pvt equity,capital markets and even asset management.They would try to bridge the gap between the investment opportunities and high net-worth individuals.Ahem,calling out all the potential investors --i can manage portfolios!



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