Worldwide

Jailed Saudi royal can buy freedom for $6bn

Jailed Saudi royal can buy freedom for $6bn”

The Wall Street Journal is reporting that Saudi Arabia wants $6 billion from Prince Alwaleed bin Talal in order to free him from detention.

The Journal reported that Alwaleed is talking with the government about accepting as payment for his release a large piece of his conglomerate, Kingdom Holding Co.

Some analysts saw the arrest of high-profile figures as an attempt by Crown Prince Mohammed bin Salman, who is also the Saudi defense minister, to consolidate his control over the security services.

Palestinian officials have repeatedly expressed worry that Saudi Arabia is forgoing important Palestinian rights as it acts behind the scenes to advance a United States "grand bargain" over the Israeli-Palestinian conflict that heavily favors Israel.

Prince Al-Waleed previously indicated that paying the amount to Saudi authorities meant accepting the guilt, which would dismantle the financial empire he had built for a quarter of a century.

A close associate of the Saudi billionaire said Prince Al-Waleed bin Talal, who now heads the company's board, wants to keep a leading role in the new company, which will have the state's support.

The prince faces allegations of money laundering, bribery and extortion, according to a senior Saudi official.

Abbas was invited to Saudi Arabia's capital of Riyadh, on Tuesday, where he held talks with King Salman and MbS. His lawyer, Salah Al-Hejailan, who has not been in touch with Alwaleed, but says he has been in contact with the prince's family says there are no formal accusations, and that the prince wants a proper investigation.

It has been learnt that the arrested prince is at 57th spot in the list of world's wealthiest people and his assets are estimated to be $US18 billion.

The Saudi government has explained that the move is part of Crown Prince Mohammed bin Salman's campaign against widespread corruption. He is now a major shareholder in Twitter besides other organizations.



Like this

loading...
loading...

Latest


25 December 2017
Man wanted after assaulting police officer
Keven De Broom allegedly became hostile after he was pulled over on Maleny-Montville Rd at Balmoral Ridge on December 22. De Vroom then fled in his vehicle, a white 2009 Toyota Hi-Ace Van with Queensland registration plates 730WDZ.

25 December 2017
Lakers' Lonzo Ball out with shoulder sprain
The Lakers said he was injured in the second quarter of Saturday's loss, but he still managed to play a game-high 37 minutes. Jordan Clarkson and Josh Hart will both likely see their roles increase in Ball's absence.

25 December 2017
American Electric Power Company, Inc. (AEP) Analysts See $0.80 EPS
Bank of America initiated coverage on shares of American Electric Power in a research note on Tuesday, October 24th. Capital Research Global Investors increased its position in American Electric Power by 223.4% in the 2nd quarter.

25 December 2017
Trump Wishes Troops Merry Christmas Via Video Conference
He then spoke with "Ryan", a 5-year-old who just wants his grandma to get out of the hospital for Christmas . At an event in Missouri last month he told supporters, "You don't see "Merry Christmas" any more ".

25 December 2017
Indiana Pacers vs. Brooklyn Nets - 12/23/17 NBA Pick, Odds, and Prediction
He pounded away at it, then made his move. "We were looking for the refs to call stuff, but the refs weren't making the calls". Coming out of the halftime break, the Pacers were absolutely lethal at chipping into the Nets' lead. "We're staying together.

25 December 2017
Concho Resources Incorporated (NYSE:CXO) on Focus After Report of Less Shorts
Its down 0.04, from 1.03 in 2017Q2. 137.75 million shares or 1.36% more from 135.90 million shares in 2017Q2 were reported. Israel Discount Bank of NY raised its holdings in shares of Concho Resources by 32.0% during the second quarter.

25 December 2017
Noteworthy Stocks: Halliburton Company (HAL), Southern Company (SO)
It improved, as 52 investors sold OKE shares while 103 reduced holdings. 106 funds opened positions while 598 raised stakes. The company was maintained on Wednesday, July 22 by Argus Research. ( NYSE:V ), 32 have Buy rating, 0 Sell and 7 Hold.

25 December 2017
Former US Attorneys Warn Trump About 'Severe Repercussions' Of Firing Robert Mueller
Dean said he doesn't think Democrats should run on impeaching the president and should "wait and see what Mueller comes up with".

25 December 2017
Analysts See $1.34 EPS for BOK Financial Corporation (BOKF)
Zacks Investment Research cut BOK Financial from a "hold" rating to a "sell" rating in a research report on Monday, November 6th. George Kaiser Family Foundation holds 81.46% of its portfolio in BOK Financial Corporation for 2.00 million shares.

25 December 2017
BJP leading, SP and Congress trailing in Sikandra By-Election
Superintendent of Police (SP) Ratan Kant Pandey, however, denied that there was any disturbance during the counting of votes. During the assembly elections in March this year the then BJP candidate Mathura Prasad Pal had polled over 87,000 votes.