Saturday, 18 November, 2017

Saudi Arabia arrests princes, ministers and business figures in anti-corruption crackdown

Saudi Arabia arrests 11 princes and four ministers in 'consolidation of power' Billionaire prince among dozens arrested in Saudi sweep
Mae Harvey | 06 November, 2017, 01:53

News of the crash comes as Saudi Arabia pursues a sweeping purge of the kingdom´s upper ranks, with dozens of princes, ministers and a billionaire tycoon arrested as Crown Prince Mohammed bin Salman cements his hold on power.

Prince Alwaleed's father was the kingdom's finance minister during the 1960s. On the same day as the arrests, King Salman removed the powerful royal rival Prince Miteb bin Abdullah from his position as minister of the National Guard, giving Crown Prince Mohammed tighter control over the kingdom's security services.

The Ritz Carlton hotel chain says it is "evaluating the situation" at its hotel in the Saudi capital, Riyadh, after reports it is being used to house some of those detained in a wave of arrests of princes and former government officials.

The arrest of senior princes upends a longstanding tradition among the ruling Al Saud family to keep their disagreements private in an effort to show strength and unity in the face of Saudi Arabia's many tribes and factions.

Bloomberg quoted a senior Saudi official as saying that 11 princes and 38 current or former senior officials were arrested.

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Firms raised prices at a sharper rate to end-consumers than their costs rose, signaling a pickup in inflation over coming months. According to analysts at Trading Economics, the inflation rate in India is expected to be 4 percent by the end of this quarter.

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Penn State's College Football Playoff hopes likely went down with the loss, having lost their last two by a combined four points. Freshman kicker Matt Coghlin sealed the game with a 34-yard field goal, knocking through his second kick of the fourth quarter.

Admiral Abdullah Al-Sultan: The former commander of Saudi Naval Forces was sacked and replaced with Admiral Fahd bin Abdullah Al-Ghifaili. Phone lines to the hotel have been cut off since Sunday morning.

Kingdom Holding did not respond to requests for comment from The National. The new body was given broad powers to investigate cases, issue arrest warrants and travel restrictions, and seize assets.

In addition to locking down bank accounts, the Saudi government said it will seize any property linked to corruption charges.

Alwaleed was giving interviews to the Western news media as recently as late last month about subjects like so-called crypto currencies and Saudi Arabia's plans for a public offering of shares in its state oil company, Aramco.

He said the Saudi Arabian leadership is "keen to protect public money and eradicate corruption, which hampers the economy and society", adding the decree was a "clear message" that no one can escape justice if they are proven to be involved in corruption.

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