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Bloomberg Invest Abu Dhabi Summit begins in Abu Dhabi - Update

Tuesday, December 12, 2017

ABU DHABI, 11th December, 2017 (WAM) -- The Bloomberg Invest Abu Dhabi Summit began today in the presence of Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, and a number of leaders of the public sector, capitalists and investors.

The Bloomberg Invest Abu Dhabi Summit unpacks the most significant opportunities and the biggest risks facing investors navigating the global economy. The summit aims to confront issues ranging from the urgent drive to create greater economic diversification, the rapidly changing capital markets, to the continuing power of technology to disrupt the financial landscape.

Utilising the full power of the Bloomberg terminal, media platforms and growing Middle East footprint, the summit provides delegates with unparalleled analyses and actionable insight to help inform financial decision- making.

The global agreement to limit production is making progress in re-balancing supply and demand for oil, though some excess inventories remain and more work is needed to remove them, Minister Al Mazrouei said in his address to the summit.

Signs of growth in demand are a positive surprise, he said, expressing optimism for the market to recover next year as a result of cuts and increasing demand.

"Increased investment in the industry is important," he stressed.

For her part, Noura bint Mohammed Al Kaabi, Minister of Culture and Knowledge Development, said during her address before the summit that the UAE government is attaching growing importance to culture-related issues, noting that there are more than 200 nationalities living in peaceful co-existence in the country, a fact that, she says, testifies to the principle of cultural pluralism and tolerance the country is championing at all fronts.

"The UAE has always been an advocate of peace, security and social welfare and is sparing no effort to inculcate concepts of moderation and tolerance," she reiterated.

The minister underlined the importance of cultural cooperation with the United Kingdom, referring to the tireless efforts made by the two nations to open up fresh prospects of scientific and economic collaboration.

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