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Tension in Arab world pushes up oil prices, higher inflation looms [25-02-2011]  
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As tensions escalate in the Arab world, oil prices have gone up, sparking global fears that the costs will be passed down to the people.

Fears over higher crude oil prices, hovering around US$101 yesterday as political unrest in North Africa and the Middle East heightened, have sent stock markets tumbling around the world.

Other developments:

> Global economic growth to slow down or reverse should oil prices remain high;

> Inflation, already rising since the last quarter of 2010, is expected to escalate further;

> The prices for RON95 and diesel will be maintained in Malaysia at RM1.90 and RM1.80 respectively;

> Airline stocks drop across Asian markets yesterday; and

> Army units loyal to Libyan leader Muammar Gaddafi attack rebels in cities close to the capital, Tripoli.

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