A survey of letters to the editor of Gulf News, December 30, 2008
December 31, 2008
Thirteen letters in all were published yesterday.
Two were about a secret cave found last year that was now a construction site. One on untended garbage. One on high rents. One proclaiming love for Gulf News. Two on Umm Al Quwain cricket tournaments being banned by Sharjah Cricket Council. One advising India and Pakistan to work together. One requesting heavy vehicles and buses to maintain a specific distance between one another. One complaining that there are too many complaints in the letters section. Three on bank lending practices, including this one:
“Banks have truly tightened the reins on lending. I am looking for a loan to pay off my Dh 8 million (Rs 10.5 crore) villa and have been unable to acquire one at a reasonable rate.”
Money was cheap, and returns were guaranteed within a day. The residents of Dubai are now coming to terms with their first true squeeze, and like everywhere else, the first reaction is to save their money. This is new for a place built for spending.