Crunch 'cost Arabs $2.5 trillion'

[Ichingcarpenter]

Source: bbc

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.

Read more: http://news.bbc.co.uk/2/hi/middle_east/7834829.stm

[Lorien]

1. Grand. The only job lead I've had recently is for work from Abu Dhabi

not IN the UAE, but from there. Damn, I'm starting to wonder if I'll have any work this year at all!

[DUlover2909]

6. There's work in Houston. PM me if interested.

Houston sucks, but there are jobs.

[Lorien]

9. Work for illustrators and product designers?

I'm not looking to move (no way to sell the house) just continue freelancing from home. I mostly do children's book illustration, character design, and product design (primarily toys and collectibles).

[Webster Green]

2. Poor dears..

:nopity:

[Skink]

3. They want fries with eaverythng though.

Not so good.

[Left Coast2020]

5. Well, if you can't work in Aba-Daba,..............

..then I guess you'll have to work as an english teacher in China. Yes?

:dilemma:

[Sultana]

4. Oh, no....... not

:nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity:

[Roland99]

7. How much did they rake in while oil was run up by speculators?

[pattmarty]

8. NEWS RELEASE: Israel halts Gaza incursion and signs cease..........

..........fire today Jan 20 at 11am CST.:sarcasm:



That's what we probably will be hearing the day of the inauguration, funny how that shit works.

[Thor_MN]

10. Horrible headline. They didn't lose a cent.

They merely gained a freakin' boat load while Bush and Cheney artificially pushed up oil prices.