Well, back in November when I last opined on the post-Brexit environment, I had expected us to have a better broad outline by the end of Q1 — well we’re there!  
What we do have, of course, are some of the key pointers and also we have gone through all the political machinations necessary to press the button on Article 50 that are now in place and this has happened today as I write this article.  
I must say personally I am truly delighted that the process now of leaving this very bureaucratic and undemocratic institution called the EU has begun.
The business and economic environments have continued to improve over the last number of months, this, in spite of the “prophecies of doom” by so many of the “Remainers”.  
Many of these have chosen not to remain silent and continue to snipe at the process, which is extremely unhelpful and plays into the hands of the EU and their negotiators who point to these aspects with a certain amount of glee!   I wish I could say that the business and economic environments have continued to improve in Scotland as such, which has run counter to the trends in the UK not only over the past year but indeed in terms of GDP growth, educational attainment and other measures over the past seven or eight years.  
The SNP Government persist, in spite of having lost the last referendum, in insisting that a further one takes place even against the background of $50 oil.  They and their supporters seem to have no concern whatsoever for the overall state of the vast majority of people in Scotland and our economy.  
The investment climate is extremely negative given the uncertainty and I imagine that other areas of the UK and indeed other parts of the world are benefiting from FDIs that might otherwise have looked seriously at Scotland.  As a committed Unionist and as a Scotsman, I’m very disappointed in this of course.
Generally speaking, the oil industry in the North Sea has suffered grievously with the persistent low oil price; this is something our readers in the GCC can relate to!  
However, Scotland has a particular set of problems inasmuch that the production system,  generally in deep water, was very expensive to develop, install and now to maintain.  There is a major concern about the costs of remediating and actually dismantling the infrastructure that’s been in place now since the early ‘70s’, exposed to all the elements of seasonal weather in and around the seas of the United Kingdom.  
While production cut backs and costs have been achieved by the producers themselves, it’s very clear that the contractors and the suppliers to the industry are really struggling and we have seen two or three notable mergers in recent months where consolidation is the order of the day.  I feel this is likely to continue.
The sharp depreciation of the value of Sterling, of course, was a concern at the time, but at mentioned previously, it continues to maintain a trade-weighted level, which was almost touched in 2012 and last seen in 2009.  
In the intervening years, one could argue that Sterling was over-valued and consequently we sucked in imports to the detriment of our domestic manufacturers, who are now coming to life to some extent and taking advantage of the markets offered by the current value of the pound.
Employment of course, continues to grow at record levels and while there is uncertainty about the future of EU migrants residing and working in the UK, I have every confidence that a deal will be reached with the EU that protects the status of those and the status of Britishers working in the EU.
All in all, I believe there are grounds for considerable optimism!


* Glasgow-based John R Wright is an academic, veteran banker and a former CEO of Oman International Bank and Gulf Bank, Kuwait.