Middle East: Proceed with caution

Author: | Published: 25 Jan 2016

When the deputy crown prince of Saudi Arabia announced last month that selling shares in state-owned oil giant Aramco was being considered, the business media went into overdrive. And rightly so; total value estimates being mentioned in the press range from $1 trillion to $10 trillion.

That's an offer any investor would find difficult to refuse. The newly-listed company would make Apple look like an infantile Silicon Valley start-up, so it's no surprise to see reports of the world's biggest investment banks...