UAE oil discovery and OPEC, protests in Tunisia

This week’s revelation by the UAE that it has discovered major new oil reserves boosts the economy’s long-term prospects but it may further raise questions over its commitment to OPEC. Alongside the news on the oil discovery, there were other positive developments in the UAE as the country took further steps to stay ahead in the race in the Gulf to liberalise its economy. Elsewhere, recent protests in parts of Tunisia are disrupting economic activity and there is a significant threat that they morph into wider social unrest.