Journal #13 Summary / Paraphrase practice

According to the largest Arab bourse, TASI ( Tadawul All Share Index) was down 9.52 percent at 5,572.01 points. This is the new record in the recently four years. "The Saudi market is positively correlated with the global markets, especially the big ones," said John Sfakianakis, chief economist at SABB bank, HSBC's Saudi affiliate. Even OPEC cut down the crude oil produce; it is no positive influence for the worldwide economy. The petrochemical and banking stocks in Saudi Arabia are headed to depreciate. This quarterly profit is declined in the sales growth that compared to the third quarter in two years in SABIC report.

Daliah Merzabban (2008, Oct 25). Saudi stocks tank on oil’s fall, recession fears. Reuters.

http://www.reuters.com/article/hotStocksNews/idUSTRE49O0W220081025