TAG: The Middle East
2016 is likely to go down as one of those years where people will ask where you were and what you were doing when you heard about Brexit or one of the sadly all-too-familiar atrocities. Whilst I know the old adage that negative stories sell newspapers, even by the media’s usual standards, this year has had more than its fair share of gloom.
It is well documented that countries relying on hydrocarbons for the bulk of their incomes have been cutting budgets and spending. With a significant proportion of private sector activity contingent on government contracts, we have been assessing the outlook for the next 12 months. We have spoken with 196 business leaders across all GCC countries, and the results show that while there are undoubtedly concerns resulting from the macroeconomic climate, sentiment is far from weak...
As 2015 draws to a close the low price of oil continues to be the dominant factor in Middle Eastern markets. Combined with conflicts in both Yemen and of course Syria and Iraq, 2015 is perhaps a year that many would prefer to forget...