Wednesday 29 June 2022 - 11:18:55 am

Bloomberg forum discusses UAE’s global growth outlook


DUBAI, 18th March, 2022 (WAM) -- The Bloomberg UAE Capital Markets Forum 2022 opened yesterday in Dubai, with the participation of local and international government and business leaders discussing the UAE’s global growth outlook, IPO boom and road to net zero.

The forum’s three panel discussions assessed the economic impact of the UAE’s expanding trade relationships with fast-growth Asian and African economies, the anticipated boom in IPO activity through listings of state-owned companies, and the country’s commitment to a net zero goal and hosting the COP28 climate conference in 2023.

Helal Saeed Al Marri, Director-General of Dubai’s Department of Economy and Tourism; Stephanie Flanders, Head of Bloomberg Economics, and Adam S. Posen, President of Peterson Institute for International Economic, then joined a panel discussion about global growth in the next 15 years. The panel assessed the challenges facing the global economy and the tools available for policy makers to mitigate inflation and geopolitical uncertainty, and maintain the pace of innovation, returns on investment, supply chain efficiency and job market stability.

Next was a discussion on the UAE’s IPO Boom with Jack R. Selby, Managing Director of Thiel Capital. The discussion focused on valuations, volatility, and the long-term market trajectory, and what this means for the timing of future IPOs in the UAE, particularly landmark transactions.

The final panel was an eagerly anticipated discussion on building the road to net zero in the GCC with four leading figures, Marco Alvera, CEO of Snam; Rola Abu Manneh, CEO of Standard Charter UAE; Tony Douglas, Group CEO of Etihad Aviation Group, and Klaus Froehlich, CIO of ADNOC Group. The discussion focused on the interaction between companies, policy setters, and the importance of closing financing gaps to support the transition to a clean energy future and remove bottle necks in the process.

WAM/Tariq alfaham/MOHD AAMIR