From Between the Hedges:
- Stocks in Dubai, Egypt, Jordan, Kuwait and Saudi Arabia, among the world’s best performers since 2003, are sliding amid a record number of planned IPOs and concern that prices have outpaced the outlook for earrings growth.
- China and Russia are blocking agreement on a US-backed statement by the UN Security Council that Iran must suspend uranium enrichment activities, US Ambassador John Bolton said.
- Emerging-market equity funds have attracted $20.9 billion this year, eclipsing the record inflows they garnered in all of 2005.
- Chinese Premier Wen Jiabao criticized the Taiwanese government for “highly risky and dangerous