Saturday 22nd July, 2017

Saudi Arabia withdrew billions, estimates show

Taipei Times - Tuesday 29th September, 2015

Saudi Arabia has withdrawn as much as US$70 billion from global asset managers as OPEC's largest oil producer seeks to plug its budget deficit after crude slumped, according to financial services market intelligence company Insight Discovery."Fund managers we've spoken to estimate SAMA [the Saudi Arabian Monetary Authority] has pulled out between US$50 billion to US$70 billion from global asset managers over the past six months," Insight Discovery chief executive officer Nigel Sillitoe said by telephone yesterday."Saudi Arabia is withdrawing funds because it's trying to cut its widening def...
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