Employees in the UAE have told ARN News how they feel, after a new report found that eight out of every 10 people in the country fear getting laid off.
The study by McKinsey & Company also revealed that 40 percent of people in the UAE and Saudi Arabia are cutting down on spending and paying closer attention to prices.
Here's what these residents said:
Meanwhile, the report also found that consumers are also becoming less brand loyal, with at least 15 per cent switching to less expensive brands.
UAE President and Rulers offer condolences to H.H. Sheikh Mohammed
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, along with Their Highnesses the Supreme Council Members and Rulers of the Emirates, offered their condolences to His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, on the passing of Sheikh Ahmed bin Rashid Al Maktoum.
Sheikh Ahmed bin Rashid Al Maktoum laid to rest
Sheikh Ahmed bin Rashid Al Maktoum has been laid to rest at Dubai's Umm Hurair Cemetery on Tuesday, following a funeral prayer attended by royals at Grand Zabeel Mosque.
UAE, partners renew push for Gaza peace plan
Foreign ministers from the UAE and seven other countries have expressed deep concern over the continuing humanitarian suffering in Gaza.
Sharjah Ruler approves major leisure project in Kalba
Sharjah is moving ahead with a major new recreational project in Kalba.
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, along with Their Highnesses the Supreme Council Members and Rulers of the Emirates, offered their condolences to His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, on the passing of Sheikh Ahmed bin Rashid Al Maktoum.
Sheikh Ahmed bin Rashid Al Maktoum has been laid to rest at Dubai's Umm Hurair Cemetery on Tuesday, following a funeral prayer attended by royals at Grand Zabeel Mosque.
Foreign ministers from the UAE and seven other countries have expressed deep concern over the continuing humanitarian suffering in Gaza.
