(Greedy, Greedy, Greedy $$$$$$)
A state of panic prevailed among traders today after all bourses declined sharply, except Muscat which rebounded by 2% after 9% loses last week. The rise in Muscat came after a recommendation by the minister of trade during a meeting with pension and investments funds in which he demanded interference by these funds.
- Middle East: Sunday, September 07 – 2008 at 19:41
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According to financial analysts, foreign portfolios and funds started to flee pushing bourses to decline sharply, especially as no local funds are ready to support the market.
Emaar registered a new record low today, falling below Dhs8, which is the same rate seen by Emaar three years ago.
UAE markets lose Dhs28.8bn in one session
UAE shares witnessed their sharpest losses today with the biggest decline among all Gulf markets including Dubai 4.6% and Abu Dhabi 3.7% and Kuwait 3%.
continue at…. http://www.ameinfo.com/168063.html
