MIDEAST STOCKS-Markets decline further as global gloom persists | Reuters:
"Most stock markets in the Middle East continued to decline on Wednesday as global equities remained under pressure and disappointing quarterly earnings and forecasts weighed on bourses in Oman and Kuwait.
While selling of Gulf stocks in previous days was fairly indiscriminate, many oil-related shares suffered most on Wednesday as the price of Brent crude slipped to a fresh 47-month low, before recovering slightly to around $84 a barrel.
Lower oil prices are not a disaster for Gulf economies, which have little debt and large fiscal reserves that they can use to maintain government spending."
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