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Update: Islamic Financing video, Saudi stocks tank on oil's fall, recession fears, Tasi down 10%
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by SOLARLIFE | October 25, 2008 at 08:34 am
116 views | 20 Recommendations | 4 comments
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Saudi stocks tank on oil's fall, recession fears, Tasi down 10%
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10% down, Dubai stock market double hit by low oil price and world crisis, no safe haven in the Arab world, the many skyscrapers are not Innovators, they produce no added value, just cost money for Air condition.
"The OPEC cut did not have any positive affect on oil prices and everybody is so depressed," said Abdullah al-Rashoud, chief executive at Riyadh-based KSB Capital Group. Conservative, no innovative risk start-up financing.
The law allows no interest, but shares in compensation for lending. Falling shares as payback decreasing stock index value of bank.
DUBAI (Reuters) - Saudi Arabian stocks tumbled on Saturday, tracking a drop on world markets, as investors worried that an oil price fall and possible global recession would hit growth of companies in the world's top oil exporter. The benchmark of the largest Arab bourse .TASI was down 9.52 percent at 5,572.01 points at 5 a.m. EDT, a day after bourses around the world plummeted as investors, fearing a long and deep worldwide recession, dumped risky assets.
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SOLARLIFE
FRENCH RIVIERA MONACO LONDON, France
Most RecentMost Recommended Comments (4)
at 08:49 on October 25th, 2008
SOLARLIFE, I like this story. It's good stuff.
at 08:57 on October 25th, 2008
Thanks Jordan for Flag, "Saudi stocks tank on oil's fall, recession fears, Tasi down 10%", difficult the Saudis mostly in Real Estate...
at 12:58 on October 25th, 2008
SOLARLIFE, when Dubai is affected, then we know there is something going on.
at 08:21 on October 26th, 2008
amyjudd, Dubai affected, something going on ! Yes, I think so too; needed some time to find out. Islamic financing takes no interest but shares from the customer. So no fixed payback money coming in, just the shares as collateral falling, so islamic bank value index falling too. I may be wrong, but additonal low oil prices, wealth has gone.