Photo courtesy of the BBC
Saudi Arabia's King Abdullah plans to set up a risk-free investment fund in a bid to attract small investors to the country's flagging stock market.Mark Alexander
Saudi citizens will be able to invest up to 500,000 riyals ($133,000; £70,600), in the bourse - buying and selling on the market for two years.
The individuals can keep any gains but the state will absorb losses. Saudi king plans 'risk-free fund'
6 comments:
Trouble with the Saudi economy? I don't see how a government-subsidized program will result in any kind of real improvement, however. Of course, Saudi can always try to jack up oil prices to cover any losses in their stock market.
Always:
What an incredible deal! I wish Blair would come up with such a good one for the poor British people. How come the Muslims of this world have it so good? Some of them at least.
As you say, they can always shoot up the price of oil if they need more money. Nothing quite like having a derrick in your backyard!
Isn't this king just using our gasoline money to buy popularity with the people of Saudi Arabia?
HA! Indeed, he is 'absorbing losses' with the money we pay him for oil. How stupid are we...
Forrest:
Please see my comment to you on the other thread.
Would that the Saudis would forego spending their money on the spread of Islam so that these funds could be used to create industries and job training for their citizens.
The implementation of an safe alternative fuel technology, one that would neither poison nor be converted into a weapon would be helpful. Greedy plutocrats and business tycoons are guilty of sustaining technologies based on oil in order to squeeze out the last penny from the last barrel of oil while they position themselves on the ready to exploit the next energy technology.
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