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Email this article: Saudi banks exposure to Saad, Algosaibi estimated at US$5 billion
Posted: Wed August 26, 2009 5:02 pm
SAUDi ARABIA. Saudi banks have a combined exposure of around US$5 billion to the two troubles Saudi family conglomerates, Saad Group and Ahmad Hamad Algosaibi & Bros., according to a Standard Chartered report.
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INTERNATIONAL. Saxo Bank publishes its Q3 Outlook, warns of a false start to the Fed's rate hike cycle; a return to US$100+ oil is not expected for the foreseeable future and this should help the region to focus on attracting and building other sources of revenue.
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