The cloud that still hangs over Dubai's financial future more than a year after the Dubai World debt crisis is the main risk to watch in the United Arab Emirates.
Despite political upheaval in Tunisia and Egypt, the rich federation of seven emirates remains a relatively calm haven in the Middle East, along with its neighbours Qatar, Kuwait and Bahrain.
The more immediate concern is whether investors, spooked by events elsewhere, take their money out of the region, prolonging a long-hoped-for recovery in trade and investment.
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