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[Ha'aretz] Zvi Bar'el - The Egyptian stock market plummeted 10% in two days, and foreign investors withdrew hundreds of millions of dollars. The Egyptian pound has also fallen to its lowest level in half a year, and inflation has soared to 26.5%. Less concerned about the global market plunge are the Gulf states, which raked in a fortune from the rise in oil prices and created vast monetary reserves that allowed their governments to inject funds into their financial markets to stabilize them. 2008-09-26 01:00:00Full Article
Arab Nations in the Shadow of the World Financial Crisis
[Ha'aretz] Zvi Bar'el - The Egyptian stock market plummeted 10% in two days, and foreign investors withdrew hundreds of millions of dollars. The Egyptian pound has also fallen to its lowest level in half a year, and inflation has soared to 26.5%. Less concerned about the global market plunge are the Gulf states, which raked in a fortune from the rise in oil prices and created vast monetary reserves that allowed their governments to inject funds into their financial markets to stabilize them. 2008-09-26 01:00:00Full Article
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