Billionaire Saudi Prince Alwaleed Bin Talal Arrested in Corruption Crackdown
cnbc.com
cnbc.com
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 ;)
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...
Saudi deputy crown prince, Trump meeting a 'turning point': Saudi adviser
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.
China does however seem to have it on the books and practices it.
I wonder what this could mean for the middle east and the Saudi export of Wahhabism...
http://www.thegatewaypundit.com/2015/12/figures-saudi-prince...