May 1, 2008

"Golden Era" of Saudi Arabia

With the oil prices through the roof, and Saudi's massive investments in education and infrastructure, I think it's fare to call it the "Golden Era" of Saudi Arabia. And, I think this is Saudi's chance to secure their post-oil future.

Saudi Arabia in `Golden Era,' Credit Suisse Says

May 1 (Bloomberg) -- Credit Suisse Group recommended buying shares of Al Rajhi Bank, Saudi Arabia's biggest bank by market value, as well as Saudi Arabian Fertilizer Co. and said the country is in a ``golden era.''

The brokerage also initiated coverage on Riyad Bank and Almarai Co. with ``outperform'' ratings. Saudi Basic Industries Corp., the world's biggest chemicals maker by market value, received a ``neutral'' recommendation.

``Oil prices are at an all-time high; hundreds of billions of dollars of infrastructure investments are expected to drive growth,'' analysts including Mohamad Hawa wrote in a note. ``The government is continuing to diversify its hydrocarbon-based economy.''


This boom is in the opposite direction of the US economy:

Gulf States May End Dollar Pegs, Kuwait Minister Says

No comments:

Post a Comment