MIDEAST STOCKS-Saudi market may cheer settlements in corruption probe | ZAWYA MENA Edition:
"Saudi Arabia's stock market may respond positively on Wednesday to news that senior prince Miteb bin Abdullah has 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 please the market by suggesting that Saudi authorities could soon be able to wind down parts of the probe, reducing the risk of disruption to the economy through the freezing of bank accounts, and reducing the risk that companies linked to detainees could be affected. "
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