Middle East tech shines in tough neighbourhood | Financial Times:
Sheikh Mohammed bin Rashid al-Maktoum, Dubai’s ruler, was upbeat when he toured construction sites last month as the city state spends billions of dollars preparing for Expo 2020. Taking to Twitter, he pledged that the regional trade and finance hub would present the “best Expo edition in its 168-year-old history”.
In Dubai, many hope Sheikh Mohammed’s optimism is not misplaced. The government forecasts that the fair will attract 25m visitors and create tens of thousands of jobs to help ease its latest downturn.
Across the oil-rich Gulf states, economies have struggled to rebound after crude prices slumped in 2015. The region’s volatile geopolitics were highlighted at the weekend when Saudi Arabia’s oil industry, including its biggest processing centre, was targeted by drone attacks, sending the price of crude soaring.
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