Macroeconomic Forecast UAE

Reports emerged in mid-August that Credit Agricole was planning on moving its regional headquarters from Manama to Dubai in light of the outbreak of public unrest in Bahrain. This development reinforces our long-held view that Dubai's economy would benefit from the outbreak in anti-government demonstrations in Manama. Since the regional turmoil started in January 2011 Dubai has seen an influx of tourists and deposits into the domestic banking sector, as the emirate has solidified its reputations as a safe haven in a volatile region.

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