Events in the Middle East during the first days of 2013 gave an indication about the tailwinds and the headwinds the United Arab Emirates will face in the next 12 months.
According to US investment bank Merrill Lynch, the UAE, a major oil exporter, will see its real economy growing by 3.2 percent in 2013, the same rate in last year. But the ongoing turmoil in Syria, the West's continuing pressure on Iran's nuclear program and newly emerged tit-for-tat politics between the Emirates and Egypt might put a cap on the UAE's growth potential.
Stock markets in Dubai and Abu Dhabi performed the best in the Gulf Arab region in 2012, and they entered with strong index gains into 2013, hitting a nine-month and one-month high, respectively, on Jan. 3.
News Analysis: Regional woes damp UAE's growth potential | philstar.com (Xinhua)
According to US investment bank Merrill Lynch, the UAE, a major oil exporter, will see its real economy growing by 3.2 percent in 2013, the same rate in last year. But the ongoing turmoil in Syria, the West's continuing pressure on Iran's nuclear program and newly emerged tit-for-tat politics between the Emirates and Egypt might put a cap on the UAE's growth potential.
Stock markets in Dubai and Abu Dhabi performed the best in the Gulf Arab region in 2012, and they entered with strong index gains into 2013, hitting a nine-month and one-month high, respectively, on Jan. 3.
News Analysis: Regional woes damp UAE's growth potential | philstar.com (Xinhua)
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