HSBC Holdings chairman Stephen Green said he is confident Dubai will overcome its debt crisis and retain its status as the Gulf region’s major financial hub.
“Dubai is a significant regional services center,” Green said on Friday in an interview in Frankfurt. “It will remain so. The debt crisis there is a reminder that the system remains fragile in terms of confidence, but I am confident they will work their way through it.”
The real economy has “probably turned the corner,” and while growth won’t be very strong, the recovery is beginning, the executive also said. “Sentiment has improved in the last few months.”
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