[BAD 130Y]

So i guess if i was living in dubai and wanted to put just Dubai 1 on a supercar i.e. SLR and drive around i would get into trouble.!!! ha ha ha
Do the traffic patrol police cars in dubai have access to database on all the cars details etc?? Just wondering so that when they pull someone over to do a check.!!!

[Steeroid]

Originally Posted by BAD 130Y

Do the traffic patrol police cars in dubai have access to database on all the cars details etc?? Just wondering so that when they pull someone over to do a check.!!!

Yes, they do have online access to the database that contains your registration details, your personal details, your employer's details and your phone numbers. You can also pay your fine by credit card - after all this is "Do Buy".

[1Day]

Dubai being able to afford everything is no big deal if you look at it, raise the income of the people in the world by 3x, keeping dubai's natives the same you will see how much of that gap reduces to nothing..

for one they have no income tax, a straight saving of 35+% and then no custom tax, another saving of 50%, so if you look at it, if I want to afford a 100 Rs car in india I would have to be making atleast 300 rs where as in dubai, you would easily be making only 100 and spend all of it..

[rankoz350]

Arabs enjoying football win.......When they win, havoc!!!






Team members on their rides.....gotta appreciate the real fanhood!

[Steeroid]

Originally Posted by 1Day

Dubai being able to afford everything is no big deal if you look at it, raise the income of the people in the world by 3x, keeping dubai's natives the same you will see how much of that gap reduces to nothing....

I doubt if its as simple as that. The population of Dubai is about 1 million. Is it easier to increase the income of 1 million or to increase the income of the balance 5,999 million?

Besides, if you increase the income of the rest of the world the arab income will only go up further. They own a lot of companies around the world. The kingdom group of Prince Waleed, for instance, owns substantial bits of Kodak, Pepsico and Citicorp (citibank) among others. The Abu Dhabi government owns about 30% of VW, some large percentage of Porsche and they bought a 5% stake in Ferrari so that they could set up a Ferrari Theme park. The Kuwaiti government's investment arm has large interests in most of the pharmaceutical companies in the world including Hoechst and Bayer.

And lately, Arab money has turned to India in view of their reluctance to park their money in the west. One of the reasons for our stock market booming away to glory is the number of india-specific arab funds that have started parking their $$$ in our market.

The liquidity and investment power in this part of the world has to be seen to be believed. The recent IPO of the new Dubai-based telecom operator was a world record - the IPO for about 2 billion Dirhams (about 0.6 billion dollars) was over-subscribed about 200 times and the company ended up collecting 434 billion dirhams (about 120 BILLION, yeah BILLION, dollars). Thats more than the GDP of several countries around the world...this for a telecom operator.

[jamminbobin]

An F430 I spotted and drooled over last evening
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[1Day]

Originally Posted by Steeroid

I doubt if its as simple as that. The population of Dubai is about 1 million. Is it easier to increase the income of 1 million or to increase the income of the balance 5,999 million?

Besides, if you increase the income of the rest of the world the arab income will only go up further. They own a lot of companies around the world. The kingdom group of Prince Waleed, for instance, owns substantial bits of Kodak, Pepsico and Citicorp (citibank) among others. The Abu Dhabi government owns about 30% of VW, some large percentage of Porsche and they bought a 5% stake in Ferrari so that they could set up a Ferrari Theme park. The Kuwaiti government's investment arm has large interests in most of the pharmaceutical companies in the world including Hoechst and Bayer.

And lately, Arab money has turned to India in view of their reluctance to park their money in the west. One of the reasons for our stock market booming away to glory is the number of india-specific arab funds that have started parking their $$$ in our market.

The liquidity and investment power in this part of the world has to be seen to be believed. The recent IPO of the new Dubai-based telecom operator was a world record - the IPO for about 2 billion Dirhams (about 0.6 billion dollars) was over-subscribed about 200 times and the company ended up collecting 434 billion dirhams (about 120 BILLION, yeah BILLION, dollars). Thats more than the GDP of several countries around the world...this for a telecom operator.

when I said raise the income i literally didnt mean it

What I was showing was the obvious advantage they have, fine if you find it difficult to raise the income of 5999 mil ppl(i dont c y ) then all you do is, charge income tax and custom duty like most part of the world and you will see how many of these amenities disappear..or if you want it a little different, do the same in india..no income tax and no custom duty, you wouldnt believe what you will see in india..

forgot pre-independence???

anyhow my point was..for a small nation of just 1mil to primarily gain money on oil and then evolve and understand the dependence of oil money to divest into different sectors is nice but nothing to go gaga over..seriously...if india has 1.3 bil ppl it makes it not 1300 times more difficult but more like 13000 times more difficult...I live in the states, the kind of money you talk of in dubai is serious pocket change in the US..but then again you dont see that much here because its 350 times more difficult(i reduced the factor because of the level of education)..

btw which IPO you talk about..the largest i had heard of was reliance which was over subscribed to 28 bil USD, the world's largest IPO and it was only 4 weeks back..

and y on earth would anyone want to put money in dubai based telecomm company, i mean they wouldnt ever be able to compete with the largests of the world in terms of technology and number of subscribers which eventually means more moeny for the investors??

anyhow dubai based telecomm company would hardly be a place to put my money..since it would never make as much and yield that kind of returns you would expect from other emerging markets like china and india..

and on top of that if you think the boom in the indian stock market is even closely related to middle estern inflow of money then that couldnt be further from the truth, the reason the middle eastern people are investing here is because of the boom in the market, not the other way around..

dubai has some serious money but one of the bigger reasons it because they have been privileged over the years...


AND NOW WE ARE BACK TO THE TOPIC

that F430 is awesome...love the red dash + java interiors with red piping


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[Steeroid]

Originally Posted by 1Day

What I was showing was the obvious advantage they have, fine if you find it difficult to raise the income of 5999 mil ppl(i dont c y ) then all you do is, charge income tax and custom duty like most part of the world and you will see how many of these amenities disappear..

The fact that tax isnt charged does not make that much of a difference in DXB. We'd much rather that tax was charged and living expenses were more "normal". Trust me - what you 'save' in tax is more than made up by the higher cost of living. I dont mean the cost of petrol.

Originally Posted by 1Day

or if you want it a little different, do the same in india..no income tax and no custom duty, you wouldnt believe what you will see in india..

Yes, and see a government bankrupt for want of revenues. Things are bad enough as it is - reducing or doing away with all taxes may allow some people to live more extravagantly, but who will pay for the roads, the development of infrastructure, free schooling, water?

Originally Posted by 1Day

forgot pre-independence???

What about it?

Originally Posted by 1Day

anyhow my point was..for a small nation of just 1mil to primarily gain money on oil and then evolve and understand the dependence of oil money to divest into different sectors is nice but nothing to go gaga over..seriously...

You forget that less than 1% of the revenues come from oil. Dubai itself has little or no oil. Which is why the transformation is all the more phenomenal.

Originally Posted by 1Day

and y on earth would anyone want to put money in dubai based telecomm company, i mean they wouldnt ever be able to compete with the largests of the world in terms of technology and number of subscribers which eventually means more moeny for the investors??

Because middle-east based telecom companies are a lot bigger today than what you would imagine. MTC from Kuwait today owns as many as 28 networks in different parts of the world. Etisalat from the UAE today has telecom interests in about 14 countries, and is looking at a major acquisition in India if possible. The new telecom operator we are talking about itself has bought 2 key licenses in other parts of the world and has a war chest for 10 more acquisitions this year.

This is not pocket change, pal - people from your part of the world are getting some serious wake up calls, usually with blanket offers to buy them up. See what happened when Dubai Ports took over P&O - your senators cried national security to try and keep their ports to themselves. And thats just a small company based in Dubai.

Originally Posted by 1Day

and on top of that if you think the boom in the indian stock market is even closely related to middle estern inflow of money then that couldnt be further from the truth, the reason the middle eastern people are investing here is because of the boom in the market, not the other way around..

Its a mixture of both. Oil money is now flowing in the wrong direction basically because the arabs who had tied themselves up to the US economy and currency are slowly edging away. One of the primary drivers for the Euro post 9/11 was arab money shifting away from the US to Europe. As of today, Kuwait has become the first arab nation to remove the dollar pegging on its currency. The whole bunch of GCC nations are expected to move away from Dollar pegging (their currencies have been pegged at a fixed rate to the USD from time immemorial, but this is set to change). This is probably the beginning of the end of the 'petro dollar'.

There's more to things than what we see - a growing economy does not become red-hot without sufficient funding. We had the growth, but the funds have come from elsewhere. Easiest way to find out would be if there is a sudden scare and foreign investors stay away from the market - that 12,000 will disappear before your very eyes. Where are those funds suddenly coming from - dont tell me its Infosys, Wipro and Satyam thats driving the Indian economy today because thats only a part of the story.

Enough of this. If you want to discuss this further we can take it offline. Back to the topic.

[spdfreak]

This site got lotta pics of supercars and other exotics in dubai and the neighbouring emirates. Its got some nice videos too.

http://www.dubaisportscars.info/

[BAD 130Y]

In the western- world Middle east or arabs in general will always be associated with 'all the money but no class'. It is very hard to change that view.!!!
We get a lot of Arabs comming to london from the UAE and middle east during the summer and they very wealthy. But somehow they dont seem to fit in if you know what i mean. They think they can buy everything, and throw money around. They seem to think they can treat asians out here like they treat em in thier countries till they meet thier match who put them in thier place. For some strange reason arabs in general think they are better than the rest because of the money they have.

[khamsinmerak]

Is this some MIDDLE EAST ECONOMIC FORUM?? Let the Sheikhs live their lives,buy super cars and fly around the world...its because of them companies like Pagani and Sbarro exists and we get to see atleast pictures.

[1Day]

Originally Posted by khamsinmerak

Is this some MIDDLE EAST ECONOMIC FORUM?? Let the Sheikhs live their lives,buy super cars and fly around the world...its because of them companies like Pagani and Sbarro exists and we get to see atleast pictures.

I thought i would let it be after stratos and i had a minor disagreement, but to say because of the sheiks any company is living is just absurd..

[BAD 130Y]

Yeah this is not a middle East economic forum. !!!
Keep them pics comming of cars in Dubai.!!! No point talking about politics. Like i said 'arabs all the money but no class'
Ciao

[rankoz350]

No CLASS ??!!!

[wacky]

well who sais arabs dont have class the new generation of arabs are very smart they are not like their fathers without any class but well there will alwais be a few and thats in every country ok