War Shakes Confidence

RIYADH, 4 April 2003 — The war on Iraq will shake investor confidence in the Gulf, especially in Saudi Arabia, Al-Madinah reported. Economists told the newspaper that many investors were putting their investment plans on hold because of the on-going war. This was likely to weaken economic performance in the Gulf. Some foreign companies are freezing joint projects with Saudi companies until the situation in Iraq becomes clearer.