Gulf Arab markets decline as global worries weigh

Bourses in UAE and Oman declined as bleak sentiment on global markets weighed, while protests in Kuwait a day earlier added to an already gloomy mood. Dubai's benchmark slipped 0.4 percent to 1,467 points, easing from Wednesday's 10-day high. Oman's measure fell 0.7 percent to 5,705 points. Oman Telecommunications (Omantel) weighed, dropping 0.7 percent. Renaissance Services slipped 1.5 percent and Bank Sohar fell 1.9 percent. "The market will be negative because of the global situation, but stable on low volumes," said Adel Nasr, United Securities brokerage manager. "Renaissance might come under pressure with foreign and GCC owners selling." Kuwait's market opened lower amid fresh political tensions following a protest a day earlier against government corruption. The benchmark dropped 0.5 percent to 5,929 points, down in five of the past six sessions. Elsewhere, Qatar's bourse fell 0.6 percent to 8,451 points, easing from Wednesday's 11-week high.Asian stocks tumbled and the dollar surged on Thursday after a warning from the Federal Reserve that the US faced a grim economic outlook with "significant downside risks" and further evidence of a slowdown in China.