Tag: dubai

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Dubai crisis threatens OFW market

MANILA, Philippines – A brewing debt crisis in Dubai has raised a specter of gloom on the Philippines, where many households have been relying on petrodollars sent home by a large pool of overseas workers in the Middle East. While the immediate impact is in the form of escalating risk aversion in the financial markets, the sharpest blow could come from the potential loss of overseas Filipino jobs that, in turn, could curb remittance flows and dampen domestic consumer spending if the Dubai crisis worsens, analysts and economists said. Global…

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Dubai family talks of narrowly escaping death

Dubai: A Dubai-based father has told of his family’s desperate escape from the devastating floods that have swamped the Philippines. William Milligan, an ex-employee of Sama Dubai, said he “narrowly escaped death” after fleeing his Manila townhouse with his wife Dainha, daughter Ramzel and sons Ramgil and Edsel. The 56-year-old,…

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Short on boats, short on noodles

IN THE WAKE OF Tropical Storm Ondoy’s devastation, many companies, big and small, rushed to lend a helping hand to relief efforts for affected communities. Most of them extended assistance in line with their core businesses (e.g., PAL shipped relief goods for free, and mobile phone firms waived transfer fees for e-money donations). For sure, there was no generosity contest and no one was keeping score.