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Saturday, 22 November 2014

PressTV - Saudi Arabia: Extreme wealth and poverty

PressTV - Saudi Arabia: Extreme wealth and poverty:

"Despite being world’s biggest crude exporter, large percentage of the people in Saudi Arabia live below the country’s poverty line.

Activists in Saudi Arabia have repeatedly criticized Riyadh for spending vast sums on buying arms from the West and not helping the millions living in poverty.

In addition to the Saudi government’s disproportionate allocation of country’s wealth the intrinsic corruption within Saudi Arabia’s royal family seems to be exacerbating the poverty and unemployment problem in the country."

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Russia to Cooperate With Saudis on Oil, Avoiding Output Cuts - Bloomberg

Russia to Cooperate With Saudis on Oil, Avoiding Output Cuts - Bloomberg:

"Russia said it’s willing to cooperate with Saudi Arabia on the oil market, while avoiding a commitment to limit output to reverse plunging prices.

The two countries also sought to overcome differences on Syria during the first ever talks in Moscow between their foreign ministers, marking a thawing of ties between the world’s two biggest oil exporters.

Oil has collapsed into a bear market this year as the U.S. pumps crude at the fastest rate in more than three decades and demand shows signs of weakening. Russia, which depends on oil and gas for about half its revenue, is on the brink of recession amid U.S. and European sanctions targeting its energy and financial industries."

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