Middle East caught up in the storm
- 14 October 2008
- Written by:
- Julian Hofmann
The Middle East has increasingly been cited in recent months as the ultimate safe haven for hard-pressed companies reeling from the impact of the credit crunch. The region’s seemingly endless oil-financed construction boom has proved a boon for a clutch of UK companies, but the good times could be coming to an end as debt escalates in Dubai and the oil price falls.