Arabian Gulf states have flexibility and resources to surmount economic challenges, says Citibank | The National:
"Citibank, the giant American financial group, believes that Arabian Gulf countries have the resources and flexibility to withstand “headwinds” in the regional and global economies.
The bank, one of the biggest in the world with operations in 101 countries, said at a two-day “summit” at its London headquarters that there were serious challenges facing the world economy as a result of changing trade patterns and concerns about some of the biggest economies, notably China.
Farouk Soussa, Citibank’s chief economist for the Middle East, said there were global worries of recession next year. But he added: “The GCC economies have shown flexibility in the past, and we expect they will be able to do again.”"
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