A more relevant factor right now is that the likes of Saudi and the United Arab Emirates have huge amounts of capital to deploy. High oil prices mean the pair collectivelyover $170 billion in extra net export revenue from oil sales in 2022. That gives headroom for expensive mistakes.
The Saudi lender, the kingdom's largest by assets, acquired almost 9.9% of Credit Suisse for 5.5 billion riyals last November and is the bank’s largest shareholder.
Source: News Formal (newsformal.com)
It would rather pivot to asia. Investing in collapsed economies is not that good idea.
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