Rumours that Israel could strike Iran’s nuclear facilities suggest that conflict in the region could escalate. But there are reasons to think that the fallout for the oil market, and therefore the Gulf economies, would be contained. Elsewhere, the Central Bank of Egypt took another step towards restoring its credibility by relaunching its quarterly Monetary Policy Review this week. And Morocco secured of $14bn of investment pledges from the UAE, a sign both of the UAE using its financial firepower to try and increase its soft power and the attractiveness of Morocco as destination for foreign investment.
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