Increasing interest in the United Arab Emirates on the part of investors has prompted ratings agency, Fitch to establish an office in Dubai, it emerged last week.
Speaking to the Gulf News regional news service with regard to the commencement of the firm's operations in the Dubai International Finance Centre (DIFC), Stephen de Stadler, Fitch's Head of Business Development for the Middle East explained that:
"We anticipate that the capital market will develop quite extensively in the UAE in the next few years."
He additionally spoke to MENA FN, explaining that:
"Being established in Dubai will allow Fitch to interact with the market within a similar time zone, but also ensure that the accepted business week in the region is appropriately covered."
"The Dubai Branch of Fitch Ratings will be responsible for all marketing and business development activity in the Middle East. We also recognise the importance of the DIFC to the region as a whole, and hence our desire to establish our branch at this location. Relocation to The Gate Villages shall take place upon completion of construction of this prestigious development."
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