The Investment & Trading Society is proud to have welcomed Oliver Cornock, Regional Editor for the Middle East at Oxford Business Group. Cornock delivered an insightful and exciting talk on emerging markets and new safe havens for real sector investors. Already having a high number of reservations, interest from Westminster Business School students was unprecedented marking a very successful event on Wednesday 27th February. Students who attended enjoyed networking with Cornock, along with refreshments, discussing current issues arising in the Middle East. Students were also received a free 3 year subscription to all Oxford Business Group’s publications.
‘Emerging Markets- New Safe Havens’ explored how emerging markets are decoupling from advanced economies and are much more stable and attractive sources of returns for real sector investors. Cornock discusses the macroeconomics of emerging markets before detailing to the effects on the Middle East. Forecasts show that the contribution of emerging markets to global growth is steadily increasing annually and therefore it is important to monitor economic activity amongst these economics. Cornock investigates the challenges these emerging economics face, for example pollution and healthcare expenditure.
The Middle East compared to its global counterparts has the highest youth rate participation in the labour market. However, female youth participation in particular is significantly lower than the global percentage. Cornock argues that youths are the Middle East’s future to economic development and heavily emphasises the importance of education. Still, the agility of Qatar and Lebanon is extraordinary and could soon be categorised amongst powerful economies.
The Middle East is becoming increasingly more diversified and industrialised as well as having energy rich nations. For political and security considerations, the Middle East continue to have alliances with Western countries despite the Middle East becoming increasingly less reliant on economic dependency, therefore reinforcing the decoupling theory. With China and India leading the growth market, South America follows only slightly behind and subsequently the development of BRIC countries will soon have prominent effects on our everyday lives.
Oliver Cornock’s vast experience is impressive. His expertise in the Middle East and North Africa is globally renowned and his credentials include writing weekly columns for the BBC and CNN, as well as appearing on the news channels. Furthermore, Cornock is a prominent face amongst high profile conferences on the economic and political development of the Middle East. His contributions have led him to undertake interviews with a long list of individuals including the HRH Duke of York; William Hague, UK Foreign Minister; and Ali Al-Naimi, Saudi Arabian Minister of Petroleum & Mineral Resources.
“The talk was very informative and topical. Only made better by the touch of the Middle Eastern heart brought into Wood theatre by Oliver. He provided a good overview of the current financial situation of the Middle East. A particularly useful feature included the discussions of the neopolitical problems in the region. The talk had relevant, up-to-date macroeconomic performances of particular countries which were presented in a fun, light and interesting manner. I will be sure to use some of it in my coursework!’’ Pirameena Saravanamuthu, Third year BSc Business Economics Undergraduate
Oxford Business Group is a global publishing, research and consultancy firm, which publishes economic and political intelligence on the markets of the Middle East, Africa, Asia, Eastern Europe and the Carribean.
Special thanks go to UWSU and the Accounting & Management Society Team for continued support.
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