Archive for January, 2016
Saudi Arabia backtracks on Aramco sale but it still needs the money
On Friday (Jan. 8), news hit the markets that Saudi Arabia might take its crown jewel (Aramco) public to help offset the country’s mounting budget deficit. On Monday (Jan. 11), the story died before all the speculative angles of why the Saudi’s might be interested in selling could be analyzed. The truth is a sale of Aramco will eventually happen but not until all other sources of raising cash are exhausted. The bottom line is that the country needs cash and fast.
- Published on Monday, 11 January 2016 08:19
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