The Saudis have commenced a limited IPO
to sell down a small part of Aramco
arguably the world's biggest energy company.
Aramco commonly makes $100b US annually.
Yet the country lacks facilities and services.
The few modern and high tech industries are
staffed and managed by foreigners.
It can't all have been spent on racehorses, concubines and yachts.
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- Where has Saudi cash gone?