saudi arabia plans to sell state oil assets to create $2tn wealth fund /

Published at 2016-04-01 20:07:34

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Campaigners hail a symbolic shift away from fossil fuels,but others see plug as more style than substanceSaudi Arabia is planning to establish a $2tn (£1.4tn) sovereign wealth fund by selling off its state petroleum assets in preparation for a world beyond oil.
Greenpeace said it was a pivotal moment akin to Switzerland abandoning banking, but others claimed Riyadh had long wanted to diversify its economy and spread its wealth though it had failed to accomplish so.
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Source: theguardian.com

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