Prince Alwaleed bin Talal

Saudi Billionaires Said to Seek Ring Fencing Assets Amid Purge

Wealthy Saudis are seeking to restructure their businesses to ring fence assets in case authorities widen their declared crackdown on corruption, …

Business

Saudi Arabia Squeezes Detainees as It Tries to Seize Assets

BEIRUT, Lebanon — A tycoon was called home to Saudi Arabia from abroad for a business meeting and detained when he returned. A billionaire was ordered to turn himself in or be picked up like a common criminal. An official was called in to discuss an attack that apparently never happened.<p>Now those …

Middle East

Alwaleed's $1 Billion Loan for Fransi Stake Is Said on Hold

Kingdom Holding Co.’s plan to raise about $1 billion in loans is on hold after its owner Prince Alwaleed Bin Talal was detained as part of the …

Business

10 things you need to know before European markets open

Good morning! Here's what you need to know.<p><b>1. The European Union is relocating two of its key agencies from London to Amsterdam and Paris post-Brexit.</b> On Monday, the EU announced following votes that the European Medicines Agency (EMA) will be moved to Amsterdam, Netherlands — an early sign of the …

Business

Looming oil price shock that could trigger the next global recession

Revenge, it is said, is a dish best served cold. When Mohammed bin Salman rounded up more than a hundred of Saudi Arabia's richest businessmen, …

Business (Australia)

Exclusive: Saudi prince detention holds up loan to investment firm - sources

DUBAI (Reuters) - Kingdom Holding's plan to borrow money to fund new investments has stalled because owner Prince Alwaleed bin Talal has been detained in Saudi Arabia's anti-corruption crackdown, according to four banking sources familiar with the matter.<p>Kingdom had approached banks to obtain the …

Burj Khalifa

Who is the Saudi crown prince who has been arresting cousins and consolidating power?

Never has any leader in Saudi Arabia had so much power since Ibn Saud founded the country in 1932.<p>Crown Prince Mohammed bin Salman, 32, has grabbed, …

Middle East

Article: Mohammed bin Salman: a useful idiot

Mohammad bin Salman<br>(Image by from Wikipedia) Permission Details DMCA<p>- Advertisement -<p>Saudi Arabia has no business taking on Iran. Crushing Iran is …

Middle East

Saudi Graft Settlements Could Reap Billions

Saudi authorities estimate they maybe able to recover as much as $100 billion from settlement talks with suspects detained in an anti-corruption …

Business

Saudi walls of ritz crumble over intl. investors

<b>Saudi Arabia’s jailing of hundreds of its wealthiest princes and businessmen is alarming investors and undermining Crown Prince Mohammed bin Salman’s</b> …

Middle East

Saudis expand crackdown with arrest of military officials and businessmen, WSJ reports

Saudi authorities have reportedly detained about two dozen military officials and several businessmen, widening a crackdown that has already ensnared …

Saudi Arabia

Saudi royals detained at the Ritz-Carlton are being given the opportunity to pay for their freedom

Saudi royals and businessmen detained in an anti-corruption crackdown are being being offered deals that trade large chunks of their wealth for their …

Middle East

Saudi offer in corruption crackdown: 'cough up the cash and go home'

Government demanding up to 70% of rich detainees’ wealth in return for their freedom, newspaper reports<p>Authorities in Saudi Arabia are offering businessmen and members of the royal family detained on allegations of corruption an opportunity to pay for their freedom, according to media …

Middle East

Saudi central banker: 'Overdue' anti-corruption drive will pay off

The head of Saudi Arabia's central bank says an anti-corruption campaign that has ensnared some of the kingdom's top business leaders will pay dividends over the long run.<p>"This is a decisive move against corruption," Ahmed Abdulkarim Alkholifey told CNNMoney's Richard Quest. "Over the long term, …

Business

Fast Asia Open: Malaysia GDP, Singapore exports

Saudi authorities are negotiating settlements with princes and businessmen held over allegations of corruption, offering deals for the detainees to …

Economy

After Disney, 21th Century Fox Has Another Curious Buyer: Comcast

The Wall Street Journal reported that Comcast has expressed an intent to acquire 21st Century Fox, citing people familiar with the matter, days after …

Business

Why did Saudi Arabia target billionaire media tycoons in its purge?

On Nov. 5, Saudi authorities arrested dozens of the kingdom’s royal, political and business elite. Security forces sequestered princes, cabinet ministers and billionaires in Riyadh’s Ritz-Carlton, as the city’s private airport was shut down to prevent escape by private jet. The detainees face …

Middle East

Saudi Crackdown Chills Bankers Tending Kingdom's Riches

In London, New York, Zurich and beyond, the answer from international bankers is the same: we don’t want to talk about the Saudis and their …

Business

Opinion: Canada must call for return of Lebanon's prime minister

Lebanon is in the vortex of the Middle East’s perpetual political storm, again.<p>Speaking about the Middle East is like entering a house of mirrors — …

Middle East

Pat Buchanan: The rogue royal of Arabia

If Saudi Arabia’s crown prince has in mind a war with Iran, President Trump should disabuse him of any notion that America would do his ...

Middle East

Shareholders take aim at Murdochs with Fox voting rights push

NEW YORK (Reuters) - A shareholder proposal calling for Twenty-First Century Fox Inc to do away with its dual-class share structure may inflict a …

Rupert Murdoch

How Saudi Power Struggle Helps The U.S. Dollar Outlook

Despite rebounding crude prices, Saudi Arabia continues to lose foreign currency reserves.<p>Wealthy elites vote with their assets, as the country …

Economy

Saudi Arabia Is Set to Become a Bigger Commodities Player

It's not just all about oil anymore.<p>Saudi Arabia is on its way to becoming a meaningful influence on global commodity prices. It doesn’t produce a broad array of raw materials like the U.S. or China, and it’s not a consumer on the scale of its neighbor, the United Arab Emirates. Yet the economic …

Oil

Saudi Arabia Is Said to Freeze Trading Accounts as Part of Probe

Saudi Arabia’s market regulator has frozen the trading accounts of individuals being detained or investigated as part of the kingdom’s crackdown on …

Business

Saudi anti-graft detainees will get due process -Saudi U.N. envoy

UNITED NATIONS (Reuters) - Saudi royal family members, officials and businessmen arrested in an anti-corruption crackdown this month will be granted due process, Saudi Arabia's U.N. Ambassador Abdallah Al-Mouallim said on Monday.<p>Authorities have detained dozens of top Saudis including billionaire …

Middle East

Citigroup, UBS Are Said Among Banks Most Exposed to Saudi Rich

Citigroup Inc. and UBS Group AG are among international banks managing the largest share of assets for wealthy Saudis, some of whom are being …

Saudi Arabia

Saudi Arabia is at war with itself

• <b>More than a dozen princes and high-level officials have been arrested as the result of a power struggle.</b>• <b><br>The power struggle could destabilize Saudi Arabia, which was already weakening.</b><p>Forget Yemen, Syria and Lebanon, just a few of the countries in which Saudi Arabia is fighting a proxy war with …

Middle East

Saudi crown prince blazes reckless regional trail

Muhammad bin Salman is taking an activist approach that is in sharp contrast to the behind the scenes, nonconfrontational style that had hitherto …

Middle East

The tale of Ali Baba and the crisis at the Ritz

November 13, 2017 5:00 AM<br>The swirl of events enveloping Riyadh these days has Crown Prince Mohammed bin Salman at its vortex.

Middle East

Kuwait banks told to examine Saudi accounts after arrests: sources

KUWAIT CITY/DUBAI (Reuters) - Kuwaiti banks have been told by the central bank to provide account details relating to some Saudi Arabian nationals, sources familiar with the situation told Reuters on Monday.<p>The move follows the freezing of more than 2,000 domestic bank accounts in Saudi Arabia …

Business