Saudi anti-corruption purge triggers investor uncertainty:
"The arrest of Prince Alwaleed bin Talal, the buccaneering face of Saudi capitalism, and dozens of other princes and technocrats as part of an anti-corruption drive has raised questions over the country’s attitude to business under Prince Mohammed bin Salman — even as Saudis lauded the move.
The purge led by the powerful Saudi crown prince has triggered uncertainty among investors who fear a campaign against established business leaders. It has alarmed executives working on Prince Mohammed’s ambitious transformation plan and sent shockwaves through a Saudi business community wondering whether they might be next in line.
Bankers say that while the economic downturn and regional geopolitical tumult has already sparked capital flight out of the kingdom over the past few years, these latest developments would speed up the pace of outflows."
'via Blog this'
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