Arab world lost $2.5 trillion in 4 months

Discussion in 'Wall St. News' started by talknet, Jan 17, 2009.

  1. talknet


    The global economic crisis has cost Arab countries $2,500bn (£1,690bn) in the last four months alone, according to Kuwait's foreign minister.

    Sheikh Mohammed al-Sabah told reporters in Kuwait City that oil-rich Gulf Arab states had postponed or cancelled 60% of development projects.

    He did not give details for his figures, which were released days before an Arab Economic Summit.

    Stock market falls and a low oil price have contributed to the losses.

    The biggest loss was an estimated 40% drop in the value of Arab investments abroad, which had previously totalled around $2.5tn, AFP news agency reports.

    "The Arab world has lost $2.5 trillion in the past four months," Mr Sabah said after meeting fellow foreign and finance ministers.

    Kuwait City is due to open a two-day Arab Economic Summit on Monday, the first of its kind.

    Arab League Secretary General Amr Moussa earlier described the meeting of 22 heads of state as "the largest and most important" Arab event of 2009.
  2. arab tycoons have bathed in pure GOLD for decades

    well they can handle it :mad:
  3. talknet


    I think Arab world has lost $10 Trillion in 4 months because they say "$2.5 Trillion loss is from Arab investments abroad".

    Think of drop in the value of "Dubai Real estate". They are the most expensive & most luxurious properties in the world.

    Also think of "oil money".
  4. So much for the Arabs catapulting gold to the moon.:mad:
  5. talknet


  6. talknet


    The more poorer Arab world, the better for Western world.

    Dubai is a "Hub for illegal activities and terrorist finance".

    I think 5% or 10% of "Oil money" from gulf countries and "Dubai Real estate money" goes to Taliban and Al-Qaeda as financial help.

    Terrorist must be rich when Crude Oil reached $145 per barrel & they must have purchased sophisticated & high-tech weapons. Taleban & Al-Qaeda are always planning to strike USA & Europe in a bigger way than 9/11 attacks.
  7. tradersboredom

    tradersboredom Guest

    those were paper profits.

    there is no free lunch.

    oil at $200/barrel was like free money for the Arabs.

    and these banks were lending money based on the value of their paper portfolios or value of their stock share price and usin stock as collateral.

    stocks are intangible assets.

  8. tradersboredom

    tradersboredom Guest

    real estate in Dubai was overvalued.

    you see the free market determines price and will correct it by it's invinsible from MARKET ABUSES

  9. talknet


    Gaza's Hamas rulers have pledged $52 million of the group's funds to help repair lives, the money divvied up by category. The veiled woman received emergency relief money for her two-story home in the northern town of Beit Lahiya.

    Hamas, which is believed to be funded by donations from the Muslim world and Iran, said the emergency relief would include $1,300 for a death in the family, $650 for an injury, $5,200 for a destroyed house and $2,600 for a damaged house.