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Egypt turmoil rattles Middle East stock markets - ASHARQ AL-AWSAT English Archive
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DUBAI, United Arab Emirates, (AP) – Stocks across the Middle East are tumbling as regional markets open back up following a weekend of violent protests in Egypt.

The benchmark index for the main stock exchange in the regional financial hub Dubai is down 6.7 percent to 1504 points in midday trading Sunday.

Among the biggest losers are regional discount carrier Air Arabia and Emaar Properties, the developer of the world’s tallest building. Their shares are each down nearly 10 percent, the daily limit.

Shares in Abu Dhabi are trading 3.7 percent lower, while Kuwait’s main index is down 2.4 percent.

Saudi Arabia was the only major regional market open Saturday, when it shed 6.4 percent. It is recovering slightly, up 1.5 percent Sunday.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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