Sunday, January 18, 2009
Saudi Arabia, housing the largest Arab bourse, lost 56.5 percent in 2008
KUWAIT CITY — As a US-generated financial hurricane is jolting businesses and people around the world, Arab investors have lost 2.5 trillion dollars from the credit crunch. "The Arab world has lost $2.5 trillion in the past four months," Kuwait Foreign Minister Sheikh Mohammad Al Sabah told a meeting of the Arab foreign and finance ministers on Friday, January 16, reported Agence France-Presse (AFP). ~~~~~~~~~~~~~ The biggest loss was an estimated 40 percent drop in the value of Arab investments abroad.