09.12.2008 - The cash-and-culture buffer
From Guardian:Despite the sharp drop in oil prices and countries like Saudi Arabia taking a more cautious view until commodity demand stabilises, there is a cushion of oil yield that mitigates the effects of the global economic crisis: GCC sovereign wealth funds are among the wealthiest in the world. However, when assessing the extent to which the credit crunch has affected the Middle East and North Africa region, the prosperity of the Gulf does not account for the rest of the Arab world's relative lack of exposure to the toxicity..... Full Article: Source