Amman - Arab stock markets plummeted on Wednesday after two days of strong gains, apparently in response to declines at the Wall Street and Asian markets and fears that a world recession has already ushered in, financial analysts said.

The only exception was the Saudi stock exchange, which closed slightly in the green after violent fluctuations.

Amman- Jordan's minimum wage will be raised by 36 per cent as of January 1, to 150 dinars (212 dollars) from the current 110 dinars, the labour ministry said Wednesday.

Labour Minister Bassem al-Salem said an ad hoc panel, recently set up to discuss the issue, had decided to raise the minimum wage to 150 dinars in view of the steeply rising inflation in the country.

The state-run Department of Statistics earlier this week put at 15 per cent the country's average inflation rate in the first nine months of the year.

Amman - Arab stock markets rallied for the second day in a row Tuesday, buoyed by rebounds in global markets following the rescue plan adopted by major European countries.

Analysts attributed the jump to a "tangible improvement in investors' confidence" and steps taken by regional central banks and other financial authorities to cut interest rates and pump liquidity into commercial banks.

"We believe that the rise in oil prices is also shoring up confidence in regional markets," an Amman-based portfolio manager said.

Amman - Arab stock markets, which witnessed a strong rally on Thursday, are expected to be vigilant next week with investors monitoring any developments on Wall Street and other global markets, financial analysts said Friday.

The rebound followed a bloody week that reportedly cost the Arab world about 180 billion dollars in losses.

Amman- The Jordan Times said Thursday that search had been continuing over the past 24 hours for its editor and reporter Taylor Luck, 23, and freelance writer Holli Chmela, 27, who went missing while on a vacation in Lebanon during the Eid al-Fitr holiday.

The US embassy in Amman said that the families of Chmela and Luck were asking for the public's assistance in providing information on the possible whereabouts of the two US citizens.

"They have not been heard from since October 1 when they reportedly departed Beirut en route to Byblos and Tripoli," an embassy statement said.

Amman - Arab stock markets dived for the fourth day in a row Wednesday amid a spiraling lack of confidence that the world financial crisis could be brought under control within a reasonable time, financial analysts said.

However, two of the major regional markets, the Saudi and Kuwaiti stock exchanges, trimmed their losses at a later stage apparently in response to local and global steps taken to stem the turmoil, including the reduction of prime interest rates by the world's leading central banks.