Monday, December 1, 2014

Marc Faber to speak in Muscat, Oman on Dec 4

Bank Muscat is to host economist and investment analyst Marc Faber on December 4, 2014 as part of the bank’s series of seminars. Doctor Doom aka Marc Faber is to share his insights on the state of world economy and financial markets.

Faber studied economics at the University of Zurich and got his PhD at the age of 24. He publishes a widely-read monthly investment newsletter ‘The gloom boom and doom’ report which highlights unusual investment opportunities, and is the author of several books, including ‘Tomorrow’s Gold – Asia’s Age of Discovery’ which was first published in 2002 and highlights future investment opportunities around the world. It was for several weeks on Amazon’s bestseller list.

On his perceptions about the global economy in 2015, Faber told the bank that it would be flat to down in 2015 as there was no growth in Europe, coupled with decelerating growth in most emerging economies and anaemic growth in the US, which might well go into reverse.

The dollar was likely to strengthen further in 2015 against the euro and the yen. Near-term, he felt that there would be a correction and also thought that the Fed was unlikely to increase rates in 2015.

About the Middle Eastern economies in general and the GCC in particular, Faber said the decline in oil prices was likely to lead to a slowdown in these economies.