tag:blogger.com,1999:blog-6283845125208268798.post6582096498799741335..comments2024-03-27T11:21:40.742+04:00Comments on Muscat Confidential: India booms, Inflation ragesUndercover Dragonhttp://www.blogger.com/profile/10577931944980469254noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-6283845125208268798.post-21718305657101463332008-05-08T22:27:00.000+04:002008-05-08T22:27:00.000+04:00This comment has been removed by a blog administrator.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6283845125208268798.post-80826026700711274342008-05-03T09:44:00.000+04:002008-05-03T09:44:00.000+04:00Indians are cheaper and that is why many companies...Indians are cheaper and that is why many companies hire them, there are many omani expats in all fields espeacially IT industry. this is not the 80's anymore. Omanis are educated these days and are handling very high positions in big companies.<BR/> Kimjis will never be omani. even if they dress up like one.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6283845125208268798.post-52759022798812786142008-05-02T11:21:00.000+04:002008-05-02T11:21:00.000+04:00Muscati,Well, we'll see. It does seem that house a...Muscati,<BR/><BR/>Well, we'll see. It does seem that house and land prices are so high to be totally unsustainable. The only motivation is to buy on the hope of future reselling for a profit, unconnected to the fundamental value. Afterall, at 9% interest, 500k needs 4,000 rials per month for 30 years to pay off. Who's got that sort of cash? <BR/><BR/>Tumble, As Alex says, we're not talking about the Khimjis, (who are not NRIs!), but those middle managers and skilled workers (or even low skilled workers but with an actual work ethic).Undercover Dragonhttps://www.blogger.com/profile/10577931944980469254noreply@blogger.comtag:blogger.com,1999:blog-6283845125208268798.post-2995853271570465932008-05-01T07:54:00.000+04:002008-05-01T07:54:00.000+04:00The Khimjis? Absolutely staying put as well they ...The Khimjis? Absolutely staying put as well they should as proud Omanis. <BR/><BR/>The crunch is going to come first at the middle - all the Indian restaurant managers, bookkeepers, salespeople, IT staff, fixers, clerical help, etc., who do so much of the literal and metaphorical heavy lifting at businesses across the country. <BR/><BR/>As for labor, with a building boom going on at home, it's going to get that much harder to persuade Indian workers to come over and be treated like disposable assets.<BR/><BR/>Omanization is well and good, but if you can't fid someone to come in and reboot your server, supervise your busboys, or balance your books, let alone build your new mega-projects, life could get a lot more complicated and a lot more expensive. It will be especially interesting to see how the reaction of truly professional Omani employees - educated, trained, diligent, and caring - develops as they more and more experience shouldering the burden for their less motivated colleagues, a burden 'til now carried primarily by expats.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6283845125208268798.post-17249476512463903112008-05-01T02:34:00.000+04:002008-05-01T02:34:00.000+04:00you gotta speculate to accumulate as they say..and...you gotta speculate to accumulate as they say<BR/><BR/>..and something tells me the Khimji's wont be going to India, especially now they have married into royalty AND been given an Omani tribal name :-)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6283845125208268798.post-30283793565991607382008-04-30T17:31:00.000+04:002008-04-30T17:31:00.000+04:00I wouldn't worry about bank and loan exposure to t...I wouldn't worry about bank and loan exposure to the MSM. The CBO is very strict in its control of banks with regards to loans given for investment in securities. Of course, people who take personal loans and then use the money to invest in shares is another issue. But still not a big one.<BR/><BR/>The big worry is exposure to real estate. Some banks have really opened up to cowboys who take massive loans to invest in land with the repayment source being the sale of the land itself. If the property market falls- I am not talking of a collapse, just a decline, it might have massive repercussions on some banks. Some banks like Bank Sohar are given people loans of 80 multiples of their salary repayable over 15 or 20 years. These are not housing or mortgage loans where people buying a house for themselves to live in. The bank doesn't ask what the borrowers are going to do with the money. A lot of these loans are going into land speculation. Everyone is dreaming of owning land in the next area which will boom. If the land they invest in ends up not selling, these people will end up spending the next 20 years paying off their loans while owning a worthless barren property.<BR/><BR/>It is scary.muscatihttps://www.blogger.com/profile/15955758251080080159noreply@blogger.com