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Economic Slowdown Reverberates in Middle East

[New York Times] Michael Slackman - As the energy-rich nations of the Persian Gulf find themselves pulled into the global financial crisis and undermined by dropping oil prices, the slowdown is affecting places like Egypt, Jordan and Syria, where gulf money has helped prop up strained economies. In Cairo, Karim Hussein, who arranges work visas for Egyptians looking for employment in the Emirates, said in the past they would get requests for up to 70 visas a month. Now they get 10. In Amman, Manal Saleh works for a company that sends skilled workers to the Persian Gulf. She said opportunities have dropped by about half since the start of the year.
2008-10-29 01:00:00
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