Sunday, January 24, 2016

Saudia Arabia's foreign assets dropped to $640 Billion in October 2015, the lowest level in three years, as energy producers across the Middle East consider savings and project delays to compensate crude's descent to near a 12 year low, planning Saudi Arabia to set up a new Sovereign Wealth Fund to manage part of its oil fortune and diversify its investments outside the energy industry, such as chemicals and transportation, seeking proposals fron investment banks and consultants.

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