The four-day meeting in Birmingham comes three months after the Tories were ousted from power by Labour
Governments in the Middle East and North Africa are focusing on stimulus packages for their economies rather than bailouts since financial institutions are solid and their exposure to toxic assets almost infinitesimal, said Aladdin Saba, CEO of Beltone Financial, which oversees $5 billion in assets under management. Saba, hosting an investment roadshow at the NYSE, said that unlike western economies, consumers in most of the region are not highly leveraged, if at all. Mortgage, credit card and auto loans are skimpy in comparison to the western world.
Thus, regional consumer demand will increase sooner and faster than in the US and Europe. “We see demand coming back. We are not saying we are totally out of the crisis, but we are saying that growth is back and consumer demand is stimulating the economy again.” The global crisis, which has wiped out huge wealth around the world, has been more acute for stock investors in the Arab world, especially in the rich Gulf. Arab bourses lost around $600 billion since early 2008, according to the departing head of the Union of Arab Bourses, and the index of Arab stock markets had lost 5.15 per cent more than the world average.
The four-day meeting in Birmingham comes three months after the Tories were ousted from power by Labour
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The limited run will last eight weeks