According to Alexei Kutrin, speaking at the SPIEF economic forum this week, “The oil sector should be fully privatized in the next 7-8 years. No state companies are required there now as the statehood brings more harm than benefit to those companies.” He added that oil companies are able to deal with business issues without … Read more
The Saudi Arabian Oil Co., or Aramco, with an estimated value of over $2 trillion, is going public. The exact value of the nationally-owned company has never been officially provided by Saudi Arabia, but because of the upcoming partial privatization — a move to prepare the country for a post-oil era — the book value might … Read more
A phenomenon known as “jingle mail,” where home-owners faced with mortgages they cannot pay mail their keys back to the bank, may be taking place in Alberta’s slumping economy, concerning the Canadian federal government. The name of the game is “strategic default” — where those who have recently bought houses but have not paid for … Read more