Bush To Press Saudis on High Oil Price

One of the world's top leaders, the US president Bush, travelled the Middle East for some reasons. One of which is to discuss with Saudis the threatening effects of oil high prices not only to US economy but to the world as a whole. Will Saudis respond to Bush's call?

The president's Mideast trip will celebrate America's close ties with Israel on the occasion of the 60th anniversary of the Jewish state, and will highlight US cooperation with its Mideast allies in the fight against global terrorism.

Bush was to meet with Israeli President Shimon Peres and Prime Minister Ehud Olmert in Israel before heading to Saudi Arabia for talks with King Abdullah.

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Bush Visit Could Push Arab Market Up

Arab Nations are said to be one of the hot spots among other nations when it comes to peace and order situations. But the region is looking forward for a more market returns during the expected US President Bush visit to the Arab Nations. This only goes to show that Arab Nations are moving forward towards development despite the prolonged confilcts in the region.

'The positive gestures emanating from Bush's trip are expected to reflect positively on regional bourses in the coming weeks,' he said.

Bush arrived in Kuwait Friday coming from Israel to start a tour of oil-rich Gulf countries.

However, Makhamreh expected stock markets to witness profit-taking moves in the coming couple of weeks in the wake of the strong gains they recorded since the beginning of the year.

'Markets are in a cautious mood as investors await the release of annual results to rebuild their positions,' he said.

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