Wednesday, Mar 23, 2011
Gulf News
Challenges facing the region on the agenda
Abu Dhabi: Senior financial professionals met in Abu Dhabi yesterday for the second annual CFA Institute Middle East Investment Conference to discuss emerging markets and the challenges the region faces in the light of the current political instabilities.
The two-day conference has been sponsored by Mubadala and the Abu Dhabi Investment Authority.
Any kind of instability, whether its political or natural like what Japan tragically faces, investors see that higher risk and usually allocate money away to no risk places, said Nitin Mehta, managing director of the CFA Institute for Europe, Middle East and Africa.
Thats natural and happens all the time.
According to Yacoub Nuseibeh, president of the CFAs Emirates Society for Investment Professionals, its only a matter of time before the region stabilises.
Yes, its a big shakeout obviously, but things will be a lot better in the next few years than what they were before, he said. When people want good governance and transparency, thats a good recipe for a good economy in the future.
On Sunday, the CFA released findings of a survey it had conducted on the Middle East and GCC region which showed much confidence in the UAE market.
Confidence in growth
More than 50 per cent of investment professionals holding CFA charter in the UAE expressed their confidence in growth for their business this year than counterparts elsewhere in the region.
Zouheir Tamim El Jarkass, CFA Emirates board member, said: Abu Dhabis future looks very bright looking forward.
Our situation here is very stable. Weve always been known for stability. Were really in good shape and its only going to get better.
By Samia Badih, Staff Reporter
Gulf News 2011. All rights reserved.
