Overall reduction in property values and new projects will see reduction or no growth in property, engineering and energy sectors. Medical and life segments may however see growth, albeit at a slower pace, says A R Srinivasan, CEO, Falcon Insurance Company.
The Gulf region has had 10 years of abundance. But that decade of plenty is done. The drop in oil prices will hurt performance in the near term, even if the Gulf’s buffers are powerful enough to ensure there is no crisis, says Simon Williams, chief economist, Central and Eastern Europe, Middle East and Africa, at HSBC.
The second session of Oman Debate 2012 titled ‘Freezones and Industrial Areas: Powerhouses of tomorrow- Opportunities and Challenges’ witnessed spirited deliberations on the accountability of the government and corporates, transparency, industrial relations, reformation of labour law etc. Excerpts. Tim: We will get from the panel a sense of where they are on the question ‘Is […]
Kuwait is considering a review of its too generous subsidy programme, with the Emir recently calling on legislators to find ways to stop ‘the squandering of the country’s resources’.