US recession would have slight impact on Gulf
Sunday, January 20 - 2008 at 06:47
Bankers and finance professionals anticipate only short-term setbacks for the Gulf region if the credit crunch escalates into a full-blown recession, reported Gulf News. John W Snow, former US Secretary of Treasury and Chairman of Cerberus Capital Management, a private equity firm, said a US recession would have only a marginal impact on the Gulf due its strong liquidity position. Meanwhile, Monica Malik, an economist with EFG Hermes, said that although a slowdown in the US economy will adversely impact the oil demand from the US, the shortfall will be covered by demand from Asia.
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Jeff Florian, Senior ReporterSunday, January 20 - 2008 at 06:47 UAE local time (GMT+4)
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