Tag Archives: Investments

Start 2014 Anew: Saving Tips from Globaleye

The New Year means fresh starts, and a chance to create a new you; financially, personally, career wise, and more. So here are some tips from Gobaleye on different areas that can help you gain more success in 2014.

Exercise

If you don’t have your health, then it doesn’t matter what else you may have. Starting to get into a regular exercising routine will not only have immense benefits for your body, but your mind will be sharper and in just a week of sticking to a routine, you’ll already notice a difference and have more energy.

While going to the gym is the typical place to workout, it’s a common misconception that it’s the only place you can. Investing in a fitness ball, a pull-up bar and a few dumbbells can open up a lot of opportunities for exercising at home when you’re not able to make it to the gym. Also, keep in mind that you can still get the same benefits from body weight training (not using weights) – squats in a wide stance, side bends, holding push-ups, jumping-jacks, and other activities that combine strength with cardio. The key is to remember the higher the intensity, with fewer breaks, the more reward and improvement you’ll see.

Career shift

If you’re tired of your current job and looking for a refreshing change, you have to clean up your CV as it’s the first thing your potential employers are going to see and your ticket to getting an interview. The most basic point is to cut to the chase; employers generally have a lot of applicants and little time, so don’t waste your time with long run-on sentences or points that aren’t relevant – make sure your strongest qualities and experience are covered right of the bat and if they want to know more, they’ll ask. You’ll also want to highlight what makes you unique and separates you from all the other applicants, so think carefully what strengths you have that will be an asset to an employer.

And if you’ve been sending out the same version of your CV, you’re doing it wrong. You should be adjusting it to the needs and wants of each employer, because while two companies may be in the same industry, their mission and goals could be completely separate.

Also, spelling or grammatical errors are a definite deal breaker, so have someone else look it over before you submit it; a fresh pair of eyes is always a good idea to give you feedback and notice if anything is off.

Earning and saving more

There’s a reason a large portion of the wealthiest individuals are entrepreneurs – they utilize all of their strengths and find ways to develop basic things into profitable businesses. So maybe you have a hobby that could be earning you some extra cash by turning it into a home business, perhaps it’s knitting clothes or photography that you could try to sell online, either way there are plenty of ways to make the most of your activities.

Or maybe you’ve been working at the same place for a while and are about to get a raise. Instead of taking that extra cash and having some fun, the smart way to save is to stick to the budget you were operating off of before the raise, and stash the extra bit away, as if you didn’t even have it. Save it; invest it; just don’t spend it and it’ll make up for those dipping pensions. And if you’re not sure how or what to invest in, talk with a financial advisor at Globaleye to see how you can make the most of your money.

Remember, it takes some determination to stick to it, but if you do, by the time 2015 rolls around you’ll look back and see just how far you’ve come.

Looming Debt Challenges with Dubai Expo 2020

World Expo

Following Dubai winning its bid to host the World Expo 2020, there’s been a lot of celebration and optimism around the event. Yet, with the high cost of hosting such an event, financial experts are turning their focus to the elephant in the room, the emirates debt. At the moment the emirates debt is estimated to be around US $103 billion, and is expected to increase with renewed borrowing needed to fund projects for the Expo.

With an estimated $43 billion needed in infrastructure projects to prepare for the Expo, the government of Dubai has indicated that a considerable amount of funding for the event will probably come from borrowing, most likely from state-linked firms. According to the IMF, the borrowing is expected as the emirate is set to pay off $85 billion in debt before 2017.

Even though Dubai has been curbing its levels of debt since Dubai World, a state-controlled firm, called for a freeze on $25 billion of debt in November 2009, the levels of government debt and state-owned companies is still quite sizable, having increased by $13 billion from last year to almost $103 billion, as according to estimates by Barclays.

Yet with the overall excitement from Dubai winning the bid for the Expo, along with gains in the economy, have, within the bond market, helped push Dubai’s credit to right levels. Yet, these high levels of debt could increase borrowing costs for Dubai.

However, a great deal of focus is being targeting on $20 billion of debt which was borrowed from the government of Abu Dhabi and other domestic institutions as a result of the financial crisis in 2009. The total amount comes from $10 billion borrowed from the Central Bank, $1 billion split between two banks in Abu Dhabi, and another $9 billion from the government of Abu Dhabi. The good news is Dubai is on track to paying back the debt and there are no talks to refinance the debt with Abu Dhabi.

But it’s not just the government that’s coping with debt; many state-owned companies are also facing debt payments, which are coming up. Dubai Group is still restructuring $10 billion of debt, aiming for repayments to be within the next three to 12 years. Dubai World is also coping with debt, but has managed to deal with a $4.4 billion loan due in two years by selling off some of its assets.

Yet, companies such as Borse Dubai, with $1.8 billion in loans due, and Nakhell with $1.9 billion, are expected to be refinancing according to a recent report by Barclays.

Even though the debt repayment schedule looms over Dubai, most companies are going to be able to pay back the loans, and those who aren’t will simply refinance those loans, while all companies are expected to borrow again in the next year to prepare for the Expo and make the proper investments, which should turn by 2020. So for now there’s little need to worry as the recovery from the 2009 financial crisis is still taking its course, all while Dubai’s economy continues to grow and show no signs of stopping. That being said, now is the right time to start thinking about new investment opportunities in anticipation for an economic boom from the Expo. So talk to Globaleye and find out what’s right for you and your portfolio.