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As investment drive falters, Saudi milks Aramco 'cash cow'
As investment drive falters, Saudi milks Aramco 'cash cow'
by  AFP

A fresh offering of shares in Saudi Aramco, the Gulf kingdom's largely state-owned oil behemoth, comes at a pivotal moment for sweeping economic reforms that have struggled to lure foreign investment. "The share sale happened now because the Public Investment Fund wanted to generate more cash to invest and Aramco is their cash cow," she added, referring to the Saudi sovereign wealth fund.

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