Doha Bank played host earlier this week to a knowledge sharing session called “Changing Dynamics and Market Opportunities” at the Emirate Towers Hotel in Dubai.
Those who spoke at the event included the managing director for marketing for the ENOC Group, Zaid Al Qufaidi, senior vice chairman and managing director of Al Sheirawi Group, Mohan Valreni, and Director of the PWC, UAE, Jawad Khan.
The CEO of Doha Bank, Dr. R. Seetharaman, revealed information of global economies, saying that the Fed has lowered its plan to two more hikes in the last month, which is down from four total this year. This has resulted in the growth of basis points to 50. Seetharaman credits this to a slowdown in China and slow growth in other markets, including the Euro zone. The Bank of Japan (BOJ) kept to its word by raising the monetary base by 80 trillion yen per year. The BOJ also maintained the rate charged to commercial banks on reserves at 0.1 percent.
When speaking about the economy, Seetherman explained that the reduction of the price of oil is expected to affect the growth of the UAE economy. The economy is estimated to grow 2.6 percent in 2016.
