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Tuesday, 25 January 2011

Rising stars of Middle East power a global recovery - The National

Four Middle East companies, including three from the UAE, are listed among the 100 "hidden engines" that are driving the world's economy, says a major US consultancy.

In a report entitled Companies on the Move,the Boston Consulting Group (BCG) identified Emirates Airline, Etisalat and DP World as among the fastest-rising stars in developing economies. It also identified Saudi Basic Industries Corporation (SABIC) - marking the first time a Saudi Arabian firm has appeared on the list.

These companies "have a strong local presence, but more so global", said Thomas Bradtke, the author of the reportand a partner at BCG's office in Dubai. "I would expect them to come strengthened out of the recent [global] turmoil."