Analyst says financial markets remain on edge as tensions over Syria and Iran continue

(29 Aug 2013) The United Arab Emirates' financial markets have reacted negatively as the international community debates whether forceful action could or should be potentially taken against the Syrian government. Earlier in the week domestic markets in the UAE took a beating as Western powers hinted at potential intervention in Syria. Analyst Nicholas Bortman of GPW attributes the drop to an increase in energy prices and uncertainty over the future relationship between Iran and the West. He described the situation across the region as "just bad for business". "Everyone is constantly talking and concerned about the Iranian question," said Bortman. "I think in a situation like this the uncertainty is really about how will this (Western intervention) impact the relationship with Iran, and oil obviously are the two sort of main drivers here," he said. Bortman believes any action by the West in Syria could set back attempts to build a cordial relationship with Iran. He said military action "could at least a set things back by a couple years again, which is not what this region needs or wants right now." For now investors in the Arabian Peninsula wait patiently, monitoring the global debate which has sent chills throughout domestic markets. Find out more about AP Archive: http://www.aparchive.com/HowWeWork Twitter:   / ap_archive   Facebook:   / aparchives   ​​ Instagram:   / apnews   You can license this story through AP Archive: http://www.aparchive.com/metadata/you...