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Mood sours among Saudi businessmen as oil slides

Reuters  |  RIYADH/KHOBAR, Saudi Arabia 

By Marwa Rashad and Reem ShamseddineRIYADH/KHOBAR, Saudi Arabia (Reuters) - Saudi Arabian entrepreneur Essam al-Zamel has overcome many obstacles to found a string of technology companies in the past decade, but he thinks sliding oil prices will be hard to handle."A black economic cloud is covering the skies of Saudi Arabia," Zamel tweeted last week, warning that prices might not recover for five or 10 years.Oil's drop to six-year lows, less than half mid-2014 levels, is beginning to sour the business mood in the world's top oil exporting nation.After a decade of sky-high oil revenues and ...

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First Published: Sun, August 23 2015. 17:11 IST
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