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Oil price dips below $90 a barrel
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Bank and building contractor shares were among those hardest hit
Oil prices have fallen to an eight-month low of less than US $90 a barrel.
Analysts say the decline reflects concern that the financial crisis in the US and Europe will lead to a global slowdown and a drop in demand for oil.
Shares on Gulf stock markets also fell fallen sharply. Shares in banks and building contractors were among those hardest hit.
The Saudi Arabian stock market, the largest in the Arab world, dropped more than 9%.
Other markets saw falls of between 4 and 6% - Dubai was 4.5% down, Abu Dhabi and Qatar 4%, while Kuwait shed 3.5% and Oman dipped 6%.
The sharp falls, the biggest single-day losses in several years, came on the first day of trading after the Eid al-Fitr holiday that ends the month of Ramadan.
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uzu ukamaka : nigeria
on
07 January, 2009 02:17:19
ronaldo is the best.
yacine : algeria
on
07 January, 2009 12:27:04
it is very good action of our student and the country as hole...
Ismail1989 : Tebessa (Algeria)
on
07 January, 2009 11:15:27
Across the world there were protests against the zionists, in the Arab world too, but our leaders don't dare to say a word like (interromping ...
Marja : United States
on
06 January, 2009 05:35:10
This is truly amazing. I had never heard of Ibn al-Haytham before reading this article. It's amazing how euro-centric ideas bias many people ...
salaheddinne : algerian resident in england
on
06 January, 2009 03:18:22
every candle in each house shows and a proof the lenght and the huge gap of ignorance in our society as a whole including ...
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