Dubai Shares Fall Most In Year, Lead Middle East Drop on Egypt

[Joanne98]

Source: Bloomberg


Jan. 30 (Bloomberg) -- Middle East shares plunged, sending Dubai's index down the most in more than a year, on concern political unrest could spread after Egyptian protests persisted and the North African country's president refused to resign.

Emaar Properties PJSC, which says it's the largest foreign- direct investor in Egypt's real-estate industry, lost as much as 9.7 percent. Air Arabia PJSC fell to the lowest intraday level on record. The DFM General Index plunged as much as 6.9 percent, the most since November 2009. It retreated 4.5 percent to 1,539.45 at 1:41 p.m. in Dubai. The Bloomberg GCC 200 Index slid as much as 2.2 percent. Egypt's market was closed after sliding 16 percent last week. Israeli stocks fell and bonds rose.

"International investors are fleeing Middle East stock markets with justified risk aversion across the board," said Mahdi Mattar, head of research at Abu Dhabi-based CAPM Investment PJSC, an investment banking company. "Due to panic from local and international investors, there is no discrimination between stocks with exposure or non-exposure to Egypt, though we expect that in coming sessions."

Stocks worldwide plunged the most since November on Jan. 28, with the MSCI World Index declining 1.4 percent, and crude oil posted the biggest jump since 2009 after protesters posed the biggest challenge to Egyptian President Hosni Mubarak's 30- year rule.





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Dubia World has bigger problems than Egypt. Their islands are disolving. LOL

[opihimoimoi]

1. The Result of Unwise Decisions along the way...Too Much Greed involved

[Systematic Chaos]

2. Couldn't happen to a nicer bunch of slave-labor working, greedy ass pricks.

If I were a billionaire I still would never invest or set foot in that glorified flea trap.

[marasinghe]

6. +1 (n/t)

[Safetykitten]

3. Meanwhile in our peacefull Pleasantville the recession is over and the Wall St is back...

http://www.youtube.com/watch?v=aQy5vKAaTuA

[Odin2005]

4. LOL, those capitalist fucks can go eat shit.

[aquart]

5. I want that money. What are we doing to get it?

When was the last time we had decent venture flight capital in the US? Don't let it go to India or Brazil. Or Canada. Is there any way to bring it here?