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ArabHerald.com Sunday 12th October 2008 Edition 286/2008
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They said it
"The House of Representatives has shown a catastrophic failure of leadership. Monday’s vote, rejecting Hank Paulson’s admittedly imperfect plan to add liquidity, transparency and perhaps a little capital to the banking system, was shameful. It was a triumph of political expediency over the needs of the nation. The signal was that congressmen would rather save their seats than do what it takes to keep the US payments system functioning. The vote was reversed on Friday but the message cannot be unsaid."
Financial Times editorial
The leading British financial newspaper was making its point in an editorial published on Saturday.

Exchange Rates
$£€United States, DollarEuroSaudi Arabia, RiyalUnited Arab Emirates, DirhamIsrael, New Shekel
United States, Dollar-0.7393.7503.6733.615
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UAE
  • Saud Housing Programme to build 800 houses for Emiratis in RAK
  • Abu Dhabi aims to attract world
  • Euro heads to meet as IMF warns of meltdown
  • Deyaar, change of direction
  • IWG proposes permanent body for sovereign funds
  • Dubai bourse cuts stock move limit to 10%

    Saudi Arabia
  • Stocks in Saudi Arabia tumble then rebound
  • Saudi Arabia- Safco posts 197% rise in Q3 earnings
  • Saudi Arabia- Bab Rizq Jameel opens in Dammam
  • Small Saudi businesses unhurt
  • Saudi Arabia- Keppel Al Numu lands in Jeddah

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