Posted inSaudi Arabia

Saudi dips into reserves for stock-buying spree

Saudi Arabia, a country implementing austerity measures in a depressed oil market, has been dipping deep into its national reserves to fund a stock buying spree. In the span of two months, US$40 billion in reserves have been transferred to the kingdom’s Public Investment Fund (PIF), according to the government. Finance Minister Mohammed al-Jadaan assured […]

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