And there will be trickle-down this year and next year from increased capital spending. There are possibilities in petrochemicals, or perhaps the proposed aluminium smelter in Oman. Projects like Dolphin all now look much more feasible given the revenue flow from high oil prices. But I don't see this translating into any material impact on the economy over the course of the next 12 months. We are looking at three to five years.
Economic growth can only be good news for the corporate sector.
But this year is expected to be much more robust. Oil prices are still important, and if they stay high, this year and next year most companies will do well. With the launch of the Abu Dhabi stock exchange and the continued move towards privatisation, results should be good. The most comprehensive survey of executive salaries in the region. The latest ranking of the Gulf's best business cities, based on their economic weight and their importance as centres of international business.