Dubai Stock Market (again)

The market is almost back to its lows, after a rise of about 20%. The faith that the governments had to intervene to protect local marriages seems to have been shaken. There's a Russian saying that first, love dies, then faith dies, and finally only hope is left.

But it's not clear how much longer hope for the Gulf markets will last.

As usual, the declines are tucked away in a small section of the Gulf newpapers, unlike the recoveries which tend to be on page 1.