Saudi Arabia’s economic overhaul was troubled before the grisly Khashoggi affair [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
Of all the CEOs who are boycotting the “Davos in the Desert” conference next week in Saudi Arabia, perhaps the most important no-show, if not the highest-profile one, will be David Schwimmer. You have probably never heard of him. He is the CEO of the London Stock Exchange, which might seem to have little interest in Saudi Arabia. But it was the LSE that was widely thought to have the edge over New York in securing the initial public offering of Saudi Aramco , the world’s largest oil company. The Aramco IPO, announced more than a year ago, was to be the centrepiece of a sweeping economic overhaul program steered by Mohammed Bin Salman (known as MBS), the 33-year-old Saudi crown prince and son of the octogenarian King Salman. The program – Vision 2030 – was launched shortly after MBS won the power struggle that effectively made him Saudi Arabia’s all-powerful ruler in mid-2017. Vision 2030 was to wean the country off its overwhelming and risky dependence on oil – Saudi Ara
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