INTERNATIONAL. The report ranks Dubai as the 13th most important city in the world, and 8th in terms of growing in importance to HNWIs; For HNWIs from the Middle East and Africa, in terms of fastest growing in importance, Dubai is overshadowed by only London.
LEBANON. "Continued domestic political volatility, repeated security breaches, a wave of kidnappings, direct and indirect spillovers from the Syrian conflict, institutional paralysis, and a persistently uncertain outlook were the main factors that affected the confidence of Lebanese consumers."
INTERNATIONAL. Gold's depressed price this year has concealed a massive transfer of wealth from Western financial institutions to Eastern households; China has been diversifying its foreign exchange reserves into gold.
Anis Motorwala, ACCA's Head of the Northern Gulf, highlighted how the external environment and context is changing and looked at how issues such as globalization, regulation, technology and financial reporting will impact on finance professionals in future.