MEED's newest event will focus on the ramifications of the current global financial crisis and discuss the outlook for 2009

As the effects of the 'credit crunch' spread from country to country in the West, it is now clear that the net has been cast further as its effects begin to be felt closer to home in the Gulf.

Once considered one of the regions least likely to be affected, the Gulf, and in particular the UAE, has begun to see some major effects of the global crisis in various different sectors. In response to the situation, MEED Events is adding a new forum to their events repertoire; 'Beyond the Credit Crunch; Business Strategies for Success 2009'.

The one day forum will cover the UAE in 2009, discussing key facts, figures and trends in response to questions raised by all industry sectors as a result of the financial crisis and its impact on the UAE and the Gulf.

Edmund O'Sullivan, Chairman MEED Events, said:

"We have added this extremely important topic to our events calendar in response to market demand. We, at MEED Events, are continually monitoring the MENA market sectors in order to ensure that our forums are as current and relevant as possible. At times like this most industries will be reviewing their corporate aims, and as such will be looking at strategies for survival during these unsettled times. 'Beyond the Credit Crunch; Business Strategies for Success 2009' will be a forum that will highlight the key issues affecting all industries and sectors in the region and strategies for successfully emerging from the current state of uncertainty."

The forum, set to take place at The Westin Hotel, Dubai, on the 18th January 2009, comes at a crucial time, when, while the UAE and Gulf states are aware of the global situation and beginning to feel the effects of the credit crunch, the full impact has yet to hit some industry sectors. The event will highlight the key elements to be aware of, and the optimum strategic decisions needed in order to maintain business during this sensitive time.

As is the hallmark of all MEED events, which are widely respected throughout the business world due to their strategic and analytical focus, 'Beyond the Credit Crunch; Business Strategies for Success 2009' will be the ideal opportunity to network with senior industry representatives and informed decision makers.

Professionals from a wide spectrum of industries will be speaking at the forum, providing expert knowledge and definitive information which will ensure forum attendees receive a clear picture of latest developments. Sectors to be discussed include real estate, power, water and utilities, transport - aviation and ports, tourism and banking and finance.

As regional commentators have noted, at this time the future remains uncertain and the end of 2008 will, for these post-oil economies, expose their fundamental flaws. As the UAE, and indeed, some of the Gulf States have, in recent times, ridden the wave of a global boom relying on liquidity from oil rich neighbours and uninterrupted foreign investment, a change in the boom tide turning to a bust cycle will really put to the test what sort of contingency plans are laid aside for certain sectors in this region.

O'Sullivan concluded, "Now is the time for all sectors to pull together and share knowledge, plans and strategies in order for them to weather the current financial storm - a storm we all know we need to manage successfully to come out the other side victorious."