25.05.2015 - With oil cheap, public pressure grows on Gulf sovereign funds
Running sovereign wealth funds in the Gulf has become an awkward business in the era of cheap oil, as their managers face growing pressure from politicians and the public to prove they’re investing national reserves wisely. When oil prices were high, the Gulf funds – which include some of the largest in the world – came under little public scrutiny. Government coffers were awash with energy revenues and the financial futures of the Gulf Arab states seemed secure. But with Brent crude now at little more than half last June’s level, the countries may be entering their toughest fiscal times since the 1990s, and this has changed the political climate...............................................Full Article: Source
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