Until only a few months ago, many executives from developed economies viewed the Gulf as bolthole to ride out the global economic storm.
Now the axe is falling heavily on the staff of Dubai real estate companies as a six-year property bubble finally bursts, while similar cost-cutting measures are sweeping through the investment banking community.
Morgan Stanley, Credit Suisse and Goldman Sachs have already cut about 10 per cent of their regional staff as the prospects for next year's fees dim with the oil price slump.
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As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.
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