Sunday, September 25, 2016

Saudi Arabia Injects $5.3 Billion To Stabilize Banking Amid Crunch -- September 25, 2016

Washington Post article here.

Same story at Arabian Business.

Same story at NASDAQ.

At Bloomberg:
The announcement comes as the world’s biggest oil exporter prepares to sell its first international bonds to finance a budget deficit that the International Monetary Fund expects to reach about 13 percent of economic output this year. The economy will likely expand 1.1 percent in 2016, according to a Bloomberg survey, the slowest pace since 2009.

The Saudi index for banking shares has declined 17.6 percent this year, compared with a 14.4 percent drop for the benchmark Tadawul All Share Index.

Saudi Arabia's Oil Stocks -- September 25, 2016


Later, 4:05 p.m. Central Time: it appears Bloomberg already reported this story -- back in June, 2016
Original Post
I guess I will file this under "for what it's worth" -- something over at SeekingAlpha today on Saudi Arabia's oil stocks. It reminds me of the old apocryphal Winston Churchill quote:
"I cannot forecast to you the action of Russia. It is a riddle, wrapped in a mystery, inside an enigma; but perhaps there is a key. That key is Russian national interest."
I'm mostly posting this to let folks know I'm still up and around.