MIDEAST STOCKS-Saudi edges up after settlements in corruption probe:
"Saudi Arabia’s stock market edged up in early trade on Wednesday after news that senior prince Miteb bin Abdullah had been freed after reaching a settlement agreement with investigators in the country’s corruption probe by paying more than $1 billion.
Apart from Miteb, the first senior figure confirmed to have been released among about 200 people detained in the probe, at least three other people allegedly involved in corruption cases have finalised settlement agreements, a Saudi official told Reuters.
The news may indicate Saudi authorities can soon wind down parts of the probe, reducing the risk of disruption to the economy through the freezing of bank accounts, and easing the danger that companies linked to detainees could be affected."
'via Blog this'
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