Steep Fall of Saudi Stock Market as Yemen Retaliates

Date: 21 November 2021 - 21:30

News ID: ۹۶۸۶۲

By: Kayhan Int’l Staff Writer

If only certain regimes in our neighbourhood had commonsense the region, would have been spared of death, destruction, and decline in trade, commerce, and economy.
Since they do not have, and allow themselves to be duped by the US, Britain, and Israel, billions of dollars are draining from the coffers of Saudi Arabia and the UAE, because the rulers of these two British-created states have joined together to impose a senseless war on Yemen in a vain bid to prevent representative rule and democracy flourish in that country.
Not a day passes when Saudi Arabia’s US-supplied bombers fly over Yemeni skies and fearful of being shot down by the defenders at military installations and war zones, rain down death and destruction upon civilians to destroy residential quarters, schools, hospitals, mosques, and marketplaces.
The people of Yemen and their legitimate government in Sana’a are determined to resist and retaliate, rather than yield to the aggressors and the secessionist state they have set up in Aden in the south headed by the fugitive from justice, Mansour Hadi, who lives in Riyadh for fear of death at the hands of his own tribesmen for treason if he steps on Yemeni soil.
This means, continuation of the now 7-year long war and the targeting of Saudi military installations and industrial sites with locally manufactured drones and ballistic missiles by the Ansarullah Movement, which is driving the invaders mad because of the further loss of billions of petrodollars as oil facilities are hit and the stock exchange falls.
Last Saturday’s barrage of deadly drones, after due warning, on at least 14 targets including the giant Aramco installations at Jeddah where the US-supplied Patriot missile defence system proved helpless, has seen a dramatic fall of the Saudi stock exchange.
According to worried western wire agencies, on Sunday Saudi Arabia’s stock market posted its biggest one-day drop in more than a year, after the retaliatory attacks from Yemen.
Saudi Arabia’s benchmark index dropped 1.6%, with Al-Rajhi Bank retreating 2.2% and Aramco losing 1.6%.
The fall could have been worse and might decline further once the damage to the other industrial and military sites, including the King Khalid Airport in Riyadh, is leaked in spite of tight Saudi censorship.
There is an air of fear in most Saudi cities that more powerful projectiles might be coming over the next few days, although the Yemen government, unlike Saudi Arabia’s indiscriminate bombing of civilians, gives advanced notice of its intention to retaliate in order to warn civilians away and prevent unnecessary loss of life.
Indeed, this is manliness on the part of Sana’a in contrast to the unmanliness of its adversaries who unable to put up a fight on the battlefronts, are using civilians human shields – as is the case in oil-rich Marib, from where mercenaries of the rebel Hadi are on full retreat and threatening to blow up the dam, which is a vital source of water supply.
It is really unfortunate for those calling themselves Muslims to slaughter fellow Muslims at the behest of the US, Britain, and Israel, even if the war rebounds and drains their treasury of billions of dollars.
We still hope that commonsense will prevail in Riyadh and Abu Dhabi to end their aggression upon and invasion of Yemen, where democracy and representative rule will eventually triumph, and spread all over the Arabian Peninsula.