Friday, March 17, 2017 03:12AM / Kuti Sofumade Related News
1. While men slept, Saudi King flew into China, with a 1,000 person-strong entourage on a month long Asian tour
2. The King oversaw memoranda of understanding and letters of intent potentially worth $65 billion on the first day of his visit to Beijing as the world’s largest oil exporter looks to cement ties with the world’s second-largest economy
3. With stops in Japan, Indonesia and Malaysia, the Kingdom would promote investments including the sale of a stake in its giant state firm Saudi Aramco in a forthcoming $2Trn IPO
4. As Washington's Middle East plan remains unclear, Saudi Arabia was willing to deepen cooperation with China in trade, investment, energy, education, technology, information security and other areas.
5. Saudi Vision 2030 is being fused with the One Belt, One Road Chinese initiative
6. Saudi Vision 2030 is a plan to reduce Saudi Arabia's dependence on oil and rely on alternative diverse economy and the development of service sectors such as health, education, infrastructure, recreation and tourism and many more.
7. Saudi Arabia, the world's largest oil exporter aims to also strengthen this 'Freedom From Oil by 2030' vision with a Sovereign Wealth Fund in excess of $2.5 trillion by working to transform the Saudi Public Investment Fund to sovereign fund assets, making it the largest global sovereign fund.
8. This fund will control more than 10% of the investment capacity in the globe, and the estimated size of the property by more than 3% of global assets.
[By the time crude oil enters its twilight era, which is sooner than later
...a few discerning Nigerians will look back to this week in history
...and remember that when concrete actions and alliances were being orchestrated, choreographed and forged in the furnaces of visionary intellection
...Nigerians only cared about the uniform standoff and dress imbroglio between its Customs Comptroller General and the National Assembly
...while the Petroleum Industry Bill is weighed down by a wilderness of other documents on the table of Federated comedy]