PHILLIPS: Here's a look at stories make news later today. Two-thirty Eastern, presidential candidate Newt Gingrich holds a town hall meeting in Davenport, Iowa. At 4:00 Eastern, Vice President Joe Biden will takes part in a program honoring Bill Gates for his help in reducing world hunger. And then at 4:05 Eastern, President Obama delivers remarks at a campaign event in Las Vegas. All right. Last week, Moammar Gadhafi became the latest casualty of the so-called "Arab spring," the uprisings have ousted leaders and toppled governments, but they also come at a breathtaking price to the countries that see such dramatic change. CNN's Leone Lakhani explains.</s>LEONE LAKHANI, CNN CORRESPONDENT: The Arab Spring has changed the political landscape in the Middle East, but it's also come at a heavy economic cost. The worst affected countries, including Libya, Egypt and Tunisia, have stacked losses of nearly $56 billion in terms of income and extra spending. They've also seen a drastic reduction in revenues because for many of these countries, their economies are at a virtual stand still. Yemen, for instance, has seen its revenues fall sharply, down 77 percent. Libya has seen revenues drop by 84 percent. Funding for the recovery process for these countries is needed urgently. In September, the international community, including the G- 8, some of the wealthier Arab countries, and institutions like the World Bank, promised $38 billion in financing for Egypt, Tunisia, Morocco and Jordan. Countless other pledges were made at a G-8 meeting back in My. But despite the promises, much of the money has yet to be delivered and the IMF says the cost of recovery for those North African economies is more than $160 billion over the next three years. Leone Lakhani, CNN, Abu Dhabi.</s>PHILLIPS: All right. Wal-Mart muscles up to the competition. Karina Huber at the New York Stock Exchange -- she is going to tell us how the big store chain is now going after your holiday dollars.
Hidden Costs of Arab Spring