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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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SAUDI ARABIA. Saudi Arabia will need to keep cutting oil output to sustain prices above US$100 a barrel, according to BNP Paribas and Societe Generale; "We are swimming in crude, and they know that better than anyone because they are the biggest exporter."
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