While the rest of the world is scrambling to put together banking bailouts and economic stimulus packages, business leaders in the Middle East remain confident that their governments already have the plans and resources in place to carry the regional economy through the global recession.
Sharif Al Diwani, Head of the Middle East and Arab Business Council of the World Economic Forum (WEF), says: "The thing that comes across consistently is that there is no major concern about the threats, relative to the rest of the world, that this region faces because it still possesses a great deal of reserves." He was speaking in an interview with Gulf News.
"[There is] not too much of a panic as far as the economic conditions are concerned, no grand schemes of rescue or anything of the sort. There is always this underlying confidence that the government will step in whenever it's necessary [in the Gulf region]," he added.
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