World Economy

S&P Forum to Focus on Mideast Finance, Energy

S&P Forum to Focus on Mideast Finance, Energy
S&P Forum to Focus on Mideast Finance, Energy

The fifth annual S&P/Platts Financial Leaders’ Forum will be held on November 10, 2014 in Dubai. This year’s invitation-only gathering of business leaders, global influencers and finance professionals will focus on the prospects for regional financial and energy markets.

“The financial and energy sectors are both key engines of the Middle East economy and both sectors have grown rapidly over the last decade. However, with growth, the region has also become exposed to the vagaries of global markets,” said Stuart Anderson, Managing Director & Regional Head Middle East at Standard & Poor’s. “This calls for new strategies to ensure sustainability and spur global competitiveness,” Business Intelligence Mideast quoted him as saying. Now in its fifth year, the S&P/Platts Financial Leaders’ Forum will provide a unique platform for investors and senior decision makers to assess the outlook for the region’s energy and financial industries. Under the theme “Empowering Investors in Transforming Middle East Financial and Energy Markets”, the Forum will facilitate a deeper dialogue on some of the most pressing issues facing the two sectors.

“The substantial income generated by the energy sector has resulted in high fiscal surpluses. However, declining oil prices mean that the (P)GCC needs to explore alternatives for funding growth requirements and massive infrastructure projects.

In this context, the development of the financial industry especially that of capital markets, is critical for (P)GCC nations to accelerate their development agendas. The Financial Leaders’ Forum aims to facilitate greater understanding of these challenges and foster a dialogue on how business leaders, policy makers, investors and financial and energy professionals can work together to develop strategies for sustainable growth,” Anderson further said.

The Forum will take a closer look at how the financial community can support economic development. According to estimates, the financial community generates around 7% of regional GDP. The sector also accounts for nearly 40% of market capitalization in the (P)GCC.

Organized by S&P and DNMconnect, a UAE-based company, the Forum will examine the vital issues that regional business leaders, investors, issuers, policy-makers and regulators should be concerned with when developing their future strategies.