Billionaire Saudi Prince Alwaleed Bin Talal Arrested in Corruption Crackdown

https://www.cnbc.com/2017/11/04/billionaire-saudi-prince-alwaleed-bin-talal-arrested-in-corruption-crackdown-local-reports.html

by adventured • 9 years ago

98 13 9 years ago

cnbc.com

indescions_2017• 9 years ago

Hashtag #الملك_يحارب_الفساد trending on $TWTR right now. Which apparently translates as #King_Fights_Corruption.

Other Middle East events of note today. Lebanese PM Hariri resigns over Hezbollah security situation. Trump urges Saudi Aramco IPO on NYSE. ASEAN conference may include talks of a Qatari oil blockade. Yemen's Houthi-controlled air ministry fires a missile at the Riyadh airport, that was intercepted by the Saudis.

And now what appears to be a coup with a dozen members of the royal family charged with "corruption". Besides a consolidation of power, asset forfeiture, or other conspiracy theories. Wondering if any Arabic speakers may have a deeper insight as to timing of these remarkable event ;)

rz2k• 9 years ago

I don’t live in the Middle East and do not speak Arabic, but arguably the coup occurred in June.[1]

Saudi Arabia faces an unfavorable trend where less of world GDP will be allocated to purchase oil, and a growing royal family that expects a continued high quality of life and massive amounts of imported labor. It is also jockeying with Iran to be the most influential power in the region.

It is difficult to think of what the best solution is for such a difficult problem. Shifting away from an economy based on extracting rents to one with more enterprise, such as engaging with the sorts of businesses Prince Alwaleed invested in seems like a wise decision. The new heir seems to favor boldness, such as pursuing whatever Saudi Arabia’s goals are in Yemen right now.

Based on the context of what the leadership is going through right now, actual corruption seems unlikely to have anything to do with this charge.

https://www.reuters.com/article/us-saudi-palace-coup/addicti...

0xbear3• 9 years ago

Trump was right again it seems: https://mobile.twitter.com/realdonaldtrump/status/6755237280...

smhost2• 9 years ago

Wait, I'm confused. Right about what? Trump was saying that Talal was trying to buy American politicians. Talal wasn't arrested for that. Or are you saying that Trump is somehow responsible for the king's actions, because that seems like a ridiculous conspiracy to me. Please connect the dots for me.

0xbear3• 9 years ago

Think broader: he called the prince a corrupt, holier than thou douche. It seems he was right.

mainliningfbs• 9 years ago

Kushner was in Saudi Arabia last week. Does that have something to do with this?

Ice_cream_suit• 9 years ago

He is a big Apple shareholder.

nnfy• 9 years ago

Apparently this is the so called progrwssive prince behind the crackdown, the one who among other things allowed women to drive.

I wonder what this could mean for the middle east and the Saudi export of Wahhabism...

vfulco• 9 years ago

Live by the sword, die by the sword (literally)

aaron695• 9 years ago

Saudi does not have capital punishment for corruption either on the books or in practice unless you can link it?

China does however seem to have it on the books and practices it.

PeachPlum• 9 years ago

March 14, 2017

Saudi deputy crown prince, Trump meeting a 'turning point': Saudi adviser

https://archive.is/nAC1H

WASHINGTON (Reuters) - Saudi Arabia hailed a “historical turning point” in U.S.-Saudi relations after a meeting between U.S. President Donald Trump and Deputy Crown Prince Mohammed bin Salman highlighted the two leaders’ shared view that Iran posed a regional security threat.

The meeting on Tuesday appeared to signal a meeting of the minds on many issues between Trump and Prince Mohammed, in a marked difference from Riyadh’s often fraught relationship with the Obama administration, especially in the wake of the 2015 Iran nuclear deal.

“This meeting is considered a historical turning point in relations between both countries and which had passed through a period of divergence of views on many issues,” a senior adviser to Prince Mohammed said in a statement.

“But the meeting today restored issues to their right path and form a big change in relations between both countries in political, military, security and economic issues,” the adviser said.

Billionaire Saudi Prince Alwaleed Bin Talal Arrested in Corruption Crackdown

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