Saturday, 16 January 2016

Saudi Aramco – the $10tn mystery at the heart of the Gulf state | Business | The Guardian

Saudi Aramco – the $10tn mystery at the heart of the Gulf state | Business | The Guardian:

"Along the King Fahd highway in downtown Riyadh, signs of the country’s wealth glitter and dazzle. Monuments include the massive Kingdom Centre – instantly recognisable by the giant bottle-opener feature formed by its two wings – and the beautiful and futuristic Faisaliyah building. New ones are still rising, like the King Abdullah financial district, still under construction: a reminder of the fat years of high oil revenues under the previous monarch.

On nearby Tahliya Street, lined with young Saudi men watching black-robed, headscarfed women saunter past, crowds throng into American-style shopping malls flaunting the world’s priciest and most luxurious brands.

Saudi wealth – whether in downtown Riyadh or Knightsbridge – is highly conspicuous. And they have the colossal Saudi Aramco oil corporation to thank for it."



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