Africa: Persian Gulf states bet on Africa despite downturn

Africa may be bracing for a commodities bust, but the still-rich investors of the Persian Gulf are doubling down here. Through the worst of the global financial crisis in recent months, Gulf investors have committed to pouring billions of dollars into sub-Saharan Africa. The timing comes just as recessions in much of the developed world, and sharply slowing growth almost everywhere else, threaten most other cross-border investment flows.