05.12.2008 - Financial crisis felt in Middle East
From Albawaba.com: November can be seen as the month in which any lingering doubts about the effect of the global financial crisis on our region were finally dispelled. The near collapse of financial behemoth Citigroup, oil prices at levels below USD 50/barrel, further evidence of cracks in some sectors of the Dubai real estate market, concerns over public and private debt levels in the Dubai economy, investor and political turmoil in Kuwait, all conspired to make the past month only slightly less painful than the record losses of October..... Full Article: Source