Mazen Dajani, chief executive of Jordan's CTI Group, says the Arab Spring accomplished what the global financial crisis of 2008-9 did not: it pushed his company, one of the world's largest shippers of cement, into the red.
CTI's shipments to Egypt plunged during the uprising against Hosni Mubarak early last year and have yet to recover, he says, while deliveries to Yemen were disrupted by unrest there. Trade with Libya is still suspended despite the end of last year's civil war. The company is projecting only about 12 to 14 percent of its business will come from the Arab world in 2012, compared with at least 30 percent in normal times.
"The Arab Spring turned the company from profit to loss for the first time in almost 10 years," said Dajani, 46, a member of an influential Jordanian-Palestinian merchant family.
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