Tag Archives: saudi arabia

Saudi focus on ‘reforms’

RIYADH, Saudi Arabia, Dec 13, (Agencies): Saudi King Salman delivered a speech on Wednesday outlining his government’s priorities for the coming year, urging citizens to support economic reforms and the government’s anti-corruption drive. In early November, the king’s son and heir, Crown Prince Mohammed bin Salman, oversaw the unprecedented arrest …

Read More »

95% of suspects detained in Saudi Arabia corruption probe accept settlements

RIYADH: Saudi Arabia’s attorney general said Tuesday that most of the 159 individuals detained in a corruption sweep have agreed to pay a financial settlement a month after the kingdom’s powerful crown prince launched the unprecedented purge against high-level princes, businessmen, officials and military officers. A little more than a …

Read More »

Greek query over botched Saudi arms sale – Government accused of incompetence

ATHENS, Nov 25, (AFP): The Greek government has come under fire over a planned arms sale to Saudi Arabia that fell through amid accusations of incompetence against the defence minister, a key ally of Prime Minister Alexis Tsipras. Opposition lawmakers say the botched deal for surplus military stock cost Greece …

Read More »

Saudi Arabia aims to start issuing tourist visas to foreigners next year

DUBAI: Saudi Arabia aims to start issuing tourist visas to foreigners next year, a senior Saudi official told CNN, as the government seeks to open up the conservative kingdom and find new sources of revenue to diversify its economy. At present, foreigners travelling to Saudi Arabia are largely restricted to …

Read More »

Banks wary of loans in corruption probe

DUBAI, Nov 20, (RTRS): 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. Kingdom had approached banks to obtain the loan, but the financing …

Read More »

Sovereign fund up amid turmoil – ‘Due process’

DUBAI, Nov 14, (RTRS): As Saudi Arabia’s anti-corruption purge sends the shares of some if its companies into a tailspin, the kingdom’s sovereign wealth fund has gained in value. Last week the market value of the Public Investment Fund’s portfolio of Saudi equities jumped by almost $3 billion, Reuters calculations …

Read More »

Financial links to held-Saudis sought

KUWAIT CITY, Nov 11, (Agencies): The Central Bank of Kuwait (CBK) has asked banks and local financial institutions to disclose their businesses with Saudi princes and businessmen who were arrested by Saudi authorities a few days ago for involvement in corruption, reports Al-Rai daily. The daily pointed out, the Saudi …

Read More »

Saudi graft reach to UAE – Some liquidating assets

ABU DHABI/DUBAI, Nov 9, (RTRS): Saudi authorities have questioned 208 people in an anti- corruption investigation and estimate at least $100 billion has been stolen through graft, a top official said on Thursday as the inquiry expanded beyond the kingdom’s borders. “Based on our investigations over the past three years, …

Read More »

Fresh arrests in Saudi graft purge

RIYADH, Nov 8, (RTRS): Saudi Arabian authorities have made further arrests and frozen more bank accounts in an expanding anti-corruption crackdown on the kingdom’s political and business elite, sources familiar with the matter said on Wednesday Dozens of royal family members, officials and business executives have already been held in …

Read More »

Saudi elite to face trial – Trump backs purge

RIYADH, Nov 7, (Agencies): Dozens of high profile Saudi political and business figures arrested in an anti-corruption sweep will face trial, the attorney general said, after the biggest purge of the kingdom’s elite in its modern history. Authorities hinted they could widen the crackdown after princes, ministers as well as …

Read More »
Translate »