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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Oil wealth flows into gulf states, but riches are built on sand

Posted on 07 October 2008

From Catholic.org: While the U.S. reels under the weight of its financial crisis, the sparsely populated sheikdoms of the oil-rich Arabian peninsula are wallowing in more money than they know what to do with.

These desert nations, most of them tiny and long obscure to most Americans, are being transformed. They used to be sleepy backwaters of Bedouins and struggling fishermen. The emirate of Qatar, for example, was once known mostly for its pearl divers. ….. Full Article: Source


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