Posted by Neil King
Dubai will still be the Middle East's top business hub in 2015, according to a survey conducted by Insight Discovery on behalf of the Arqaam Capital Dubai Beirut Forum.
More than 100 senior business and financial managers working in the region, including the former prime minister of Lebanon, attended the forum in the Dubai International Financial Center yesterday (June 6th), with 72 per cent granting Dubai a vote of confidence.
When the attendees were asked which Middle Eastern city they thought would become "THE" business financial hub by 2015, Dubai topped the list, with Abu Dhabi coming in second.
"I remain extremely bullish on Dubai,'' said Riad Meliti, chief executive officer of Arqaam Capital, the only investment bank in the Middle East selling equities futures. "The emirate's advanced infrastructure leaves it well positioned."
The news comes after Dubai World, one of the emirate's three main state-owned business groups, said last month that it has reached an agreement with a group of creditors to restructure $23.5 billion of liabilities.