Arab equity investors have suffered from a staggering loss of over $325 billion (Dh1,192bn) because of the global financial turbulence after netting a profit of more than $200 billion through 2007, official figures showed yesterday.
Share investors in the UAE and other Gulf oil producers have emerged as the main victims as they reeled under a loss of around $320 billion, accounting for more than 98 per cent of the total losses.
The figures by Abu Dhabi-based Arab Monetary Fund, which tracks the Arab world's 15 stock markets, showed the market capitalisation of the Arab exchanges dived to $794.26bn at the end of April from nearly $1,119.81bn on September 15, when news about the collapse of the US Lehman Brothers hit global markets.
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