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Monday, 17 October 2016

Saudi Arabia: Give Us Your Money and Don't Ask About Oil - Bloomberg

Saudi Arabia: Give Us Your Money and Don't Ask About Oil - Bloomberg:

"For Saudi Arabia, some things are better left unsaid. 
As they swapped their traditional white robes for business suits and ties to meet with prospective investors ahead of the kingdom’s first-ever international bond sale, Saudi government officials talked at length about their vision for transforming the economy. When it came to an oil price increasingly influenced by Iran and the proxy war in Yemen they were less forthcoming.
“Every time anyone in our meeting asked about oil they pushed back,” said Gregory Saichin, chief investment officer for emerging-market bonds at Allianz Global Investors. He attended the investor day in London, the first of four that end in New York this week after Los Angeles and Boston. "The fact that they refused to take questions on oil prices or how much is achievable on budget rationalization have left investors with half a picture.""



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