ArabianBusiness.com - Middle East Business News
Saturday, 22 November 2008
Saudi stocks plummet as oil drops below $50

Saudi stocks plummet as oil drops below $50

Financial Markets
UPDATE 2: Index closes over 9% lower with losses led by Kingdom and Samba Financial.

Lebanon marks 65 years of independence
Politics & Economics
Country celebrates independence with official ceremony staged in Beirut.

Citi in talks with gov't as share price nosedives
Banking & Finance
US bank meets with officials as falling share price raises doubts about bank's survival.

Turkish pipeline to reopen in one week
Energy
UPDATE 2: Section of pipeline with Iraq damaged in bomb attack by Kurdish guerrillas.

more »MIDDLE EAST BUSINESS COMMENT

Party like it’s 1999
The spectacular Atlantis Hotel opening has been a marketing masterstroke, and worth every dirham, argues Rob Corder.

 Rob Corder  

Aids stigma must end
Calls in the past few weeks by local experts and international groups to end ignorance and misinformation is welcome news.

Joanna Hartley

EDITOR'S CHOICE

  1. False documents aid GCC patients to buy illegal organs »
  2. 'One cheque' demands ease as credit tightens »
  3. Stars out in force for Atlantis Hotel party »
  4. UAE sticking with dollar peg, says central bank chief »
  5. Construction firm expects slowdown to hit deals »

more » MIDDLE EAST MARKETS DATA

DFM

Last Price:

2,012.24

-40.91-1.99%

20 Nov 2008 09:59 GMT
(Market Closed)

ADX

Last Price:

2,833.55

-47.20-1.64%

20 Nov 2008 10:00 GMT
(Market Closed)

SSE

Last Price:

4,548.75

-331.69-6.80%

22 Nov 2008 08:41 GMT
(Market Closed)

CURRENCY CONVERTOR

more »OTHER MIDDLE EAST BUSINESS NEWS STORIES

Banking & Finance

  1. Citi in talks with gov't as share price nosedives
  2. Saudi prince ups stake in US banking giant

Construction & Industry

  1. Indian textiles sector to lose 500,000 jobs
  2. $60bn Ajman city project could be delayed

Culture & Society

  1. Iranian collector faces jail over British book scam
  2. Pop star to give evidence in Bahrain lawsuit case

Education

  1. UAE education chief reveals $2bn strategy
  2. Saudi hikes student allowance by 50%

Energy

  1. Turkish pipeline to reopen in one week
  2. Syria denies nuclear programme

Healthcare

  1. False documents aid GCC patients to buy illegal organs
  2. Manslaughter charge doctor has licence suspended

Islamic Finance

  1. ISDA to launch sharia-proof derivative standard
  2. Sukuk to recover in 2009 - BNP Paribas

Media & Marketing

  1. Cirque du Soleil returning to Dubai next year
  2. Emarat Al-Youm in dark over court ban

Personal Finance

  1. Lenders ramp up interest rates on home loans
  2. Amlak suspends new mortgage loans

Politics & Economics

  1. Lebanon marks 65 years of independence
  2. Syria denies nuclear programme

Real Estate

  1. 'One cheque' demands ease as credit tightens
  2. Soaring house rents fuel Qatar inflation rate

Retail

  1. Helpers on hand as work starts on mall expansion plan
  2. Aldar unveils plan for 700-shop super mall

Sport

  1. Football star launches search for Bahraini Beckham
  2. Determined UAE hold Iran to draw in World Cup qualifier

Technology

  1. 200 new jobs as Bahrain plans contact centre
  2. Software boost as ID card registration rush continues

Transportation

  1. Piracy jeopardising Suez revenues
  2. New campaign launched to cut UAE road deaths

Travel & Hospitality

  1. Hundreds sign online QE2 funnel petition
  2. Stars out in force for Atlantis Hotel party

more »MIDDLE EAST BUSINESS EVENTS

UPCOMING EVENTS

  1. IFRS & US GAAP Courses in Dubai
    27 April 2008 | Dubai, United Arab Emirates
  2. Advanced Human Resource Management in the GCC (Distance Learning)
    14 September 2008 | Dubai, United Arab Emirates
  3. Advanced Operational Auditing & Management Effectiveness Analysis
    16 November 2008 | Dubai, United Arab Emirates
See all events »

MORE TOP MIDDLE EAST BUSINESS STORIES

  1. False documents aid GCC patients to buy illegal organs
  2. Indian textiles sector to lose 500,000 jobs
  3. Piracy jeopardising Suez revenues
  4. Iranian collector faces jail over British book scam
  5. Syria denies nuclear programme
All Middle East business news stories »

SPOT POLL

Following the temporary closure of Kuwait Stock Exchange, what do you think the future holds for Gulf markets?

Markets have reached a nadir and share values will now begin to recover.
Most sectors will soon recover but the real estate shares will suffer for some time to come.
The global financial crisis has only just arrived and markets are in for worse times ahead.
Many more companies will be forced to buy back shares in a bid to boost their value.
ArabianBusiness.com/Jobs - Middle East Jobs Search
  1. MEP Engineer
    Industry: Construction
    Location: UAE, UAE
  2. Programme Manager
    Industry: Construction
    Location: Egypt
Browse all jobs »

CURRENT TENDERS

  1. Supply drainage materials (ESVC pipes and fittings, manhole precast cover slabs and manhole access D.I. cover and frame)
    Qatar
    Closes on: 23 November 2008
  2. Supply low noise mobile diesel pumps for the mechanical workshop
    Qatar
    Closes on: 23 November 2008
  3. Design and implement Capital Projects Request Management System (CAPRMS)
    Qatar
    Closes on: 23 November 2008
  4. Provide consultancy services for the Commercial Centre and City Gate landmark at Al Shamal City
    Qatar
    Closes on: 23 November 2008
  5. Replace 33 KV switchgear at C station and provide associated works
    United Arab Emirates
    Closes on: 23 November 2008
More Tenders »

MOST POPULAR

EMIRATES ID DOWNLOAD

READER COMMENTS

  1. 'One cheque' demands ease as credit tightens 6
    22 Nov ' 08 at 11:33
    Landlords sympathetic to their tenants? Give me a break. In general, understandably, they just want their money. How about some...  More »
  2. Stars out in force for Atlantis Hotel party 3
    22 Nov ' 08 at 08:46
    It is sad but aside from a few Nakheel officials, there were no UAE VIPs. A bit of a gaffe there by the Kerzner people who left quite a...  More »
  3. Party like it’s 1999 3
    22 Nov ' 08 at 09:31
    I believe it's about time that Dubai overcomes its state of denial and admit that a) it's really facing its biggest challenge in...  More »
Read all user comments >

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