Abu Dhabi, capital of the UAE, is rich in oil but suffers from underuse of its own human resources. Abu Dhabi’s commitment to rebalancing away from oil will be underpinned by improvements in financial education, exemplified by a new academy launched by Abu Dhabi Global Market in partnership with the London Institute of Banking & Finance.
Russia is amongst the global heavyweights, but its economy and stock markets are vulnerable to forces outside of its control, especially the price of oil but also politics in other parts of the world, such as the United States. The country’s fortunes will depend on how oil prices fare but also on how well relations with the new administration in Washington pan out.
The commodities “super cycle” generated by mainly Chinese demand came to a screeching halt midway through 2014. The pain has been acutely felt by especially US oil and gas companies, which, crushed by their operating losses and high interest costs on debt, have been seeking Chapter 11 protection in record numbers.