Business
Despite the ongoing global recession, the Middle East "is still one of the better places to be," according to Joe Saddi, chairman of Booz & Company and managing director of the firm's Middle East business. In an interview with Knowledge@Wharton conducted during the recent Wharton Global Alumni Forum in Dubai, Saddi noted that although sectors such as real estate and tourism have been hit hard, the region's underlying growth fundamentals remain positive. And although Gulf Cooperation Council (GCC) companies will need to be prudent and maintain enough cash to weather the current storm, now is the perfect time for them to "go on the offensive" and "take advantage of the recession to acquire or stake out a stronger strategic position."