Middle East Economic Survey


No 45



Gulf Stock Markets Tumble As Investors Head For The Exit

Stock markets around the Gulf tumbled last week as investors suffered a crisis of confidence and left the market in droves. The fall was led by the Saudi Stock Exchange General Index which fell sharply below the 10,000 point mark to close at 9,328.47 over 11% below its 19 October close, and its lowest point in 19 months. Petchems giant Saudi Basic Industries Corporation (SABIC),...