Gosaibi-Saad saga shows that global finance has a long memory | Arab News:
"A meeting between senior Saudi Arabian business people and potential investors last autumn had been going very well, the Saudis believed. There was an obvious appetite from foreign financiers to get involved in the momentous economic transformation planned for the Kingdom under the Vision 2030 strategy. But, according to one source familiar with the details of the meeting, which was taking place outside the Kingdom, the accord evaporated when the names Al-Gosaibi and Saad Group came up in conversation. Foreign bankers reminded their Saudi visitors that there were still billions of dollars in loans outstanding from one of the biggest financial collapses ever to hit the Middle East, and that this experience had soured their attitude to the Kingdom, despite the prospect of big business from the economic revolution under way."
'via Blog this'
No comments:
Post a Comment