Monday, August 08, 2005

Saudis to bring home $360 billion

From UPI:

Saudis to retrieve $360 billion abroad.

August 7 2005: Saudi Arabia has announced it is aiming to bring back to the kingdom a total of $360 billion invested abroad in the last 18 months.

Foreign Minister Prince Saud al-Faisal told reporters the government was working on returning these "national assets" back to the oil-rich Arab country and to attract foreign investments in Saudi Arabia.

From WRH:

According to THIS DOCUMENT, 60% of Saudi investment is in the US. If they pull the money across the board, then the portion slated to be pulled out of the US is $216 billion.
I note that the Saudi Government announced this right after the US delegation left. I wonder what the US delegation said that pissed the King off.



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