I am not a sheep, I have my own mind
I have had enough of being told what and how to think
Whilst we are still allowed the remnants of free speech,
I will speak out.
I also reserve the right to discuss less controversial matters should I feel the urge.
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Saturday 17 January 2009
World economic recession hits Arab oil states
On Thursday I blogged that developers in Dubai were halting building of a skyscraper planned to be the world's tallest. Today I learn that according to Kuwait's foreign minister, Sheikh Mohammed al-Sabahthe, the global economic crisis has cost Arab countries $2,500bn just in the last four months. Sheikh Mohammed al-Sabah told reporters in Kuwait City that the oil-rich Gulf Arab states had postponed or cancelled 60% of development projects. Apparently, stock market falls and a low oil price have contributed to the losses but the biggest loss was an estimated 40% drop in the value of Arab investments abroad, which had previously totalled around $2.5tn.
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