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Financial storm hits the Persian Gulf
Wall Street Journal (subscription required), October 28, 2008
Kuwait's largest bank guaranteed deposits and formulated a bailout last weekend. As a global financial crisis looms, this is the first bank rescue in the Persian Gulf. Previously unaffected by the crisis, the Gulf is now appearing vulnerable. And now, officials in Saudi Arabia plan to grant more than $2 billion in loans to low-income borrowers.
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