Wednesday, 17 January 2018
News with tag Saudi Arabia  RSS
Saudi Ritz Carlton to reopen after being used as luxury prison in corruption purge

Added: 17.01.2018 13:10 | 0 views | 0 comments


The luxury Riyadh hotel used as a prison during Saudi Arabia's crackdown on corruption will reopen for business next month, suggesting authorities are close to settling the cases of many suspects. Dozens of princes, senior officials and top businessmen were detained and confined in the five-star Ritz-Carlton Riyadh as the government launched the purge in early November. The some 200 detainees occupied half the hotel's 492 rooms. The rest was closed to business. The hotel's website now accepts bookings from Feb. 14, quoting a nightly rate for its cheapest room of 2,439 riyals (£480). Saudi authorities have said they expect the vast majority of suspects to agree to financial settlements of charges against them, and that Riyadh hopes to recover about $100 billion of illicit funds. A small number are expected to be prosecuted. Construction giant Saudi Binladin Group said on Saturday that some of its shareholders might transfer part of their holdings to the state in a settlement with authorities. Chairman Bakr Bin Laden and several family members were detained in the crackdown. In late November, senior Saudi Prince Miteb bin Abdullah, once seen as a leading contender to the throne, was freed after reaching a settlement with authorities that involved paying more than $1 billion, according to a Saudi official. Another top businessman who has been held at the Ritz-Carlton is billionaire Prince Alwaleed bin Talal, chairman and owner of global investment firm Kingdom Holding. A Saudi official said this week that he was negotiating a possible settlement but so far had not agreed on terms. It has been rumoured, Mr Talal, one of the world’s richest men, could be forced to pay as much as $7bn. Saudi Arabia is in the midst of a massive political and economic shake-up, marked by the sudden appointment of Prince Mohammed bin Salman as crown prince in June. The 32-year-old son of the king has spearheaded the unprecedented crackdown on corruption among members of the government and royal family, as he consolidates his grip on power in the kingdom.

UAE accuses Qatar of 'intercepting' 2 passenger planes

Added: 17.01.2018 13:06 | 0 views | 0 comments


The United Arab Emirates accused neighbouring Qatar of "intercepting" two Emirati passenger planes en route to Bahrain on Monday in the latest incident between the Gulf rivals. Qatar denied the allegations as "totally baseless" and hit back that they came "one day after a C-130 UAE military aircraft breached Qatari airspace". Tensions have escalated in the Gulf since Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut all ties with Qatar in June, accusing it of supporting Islamist extremists and being too close to Saudi Arabia's arch-rival, Iran.

From: https:

Saudi Arabia transfers Yemen $2 billion to save local currency from 'complete collapse'

Added: 17.01.2018 12:13 | 0 views | 0 comments


Saudi Arabia's King Salman ordered the transfer of $2 billion to Yemen on Wednesday, a day after Yemen's Saudi-backed prime minister made an urgent appeal on the kingdom and its allies to save the local currency from "complete collapse."
Prime Minister Ahmed Obeid bin Daghir had called on the kingdom...

From: www.sun-sentinel.com

Saudi Arabia deposits US$2 billion in Yemen central bank to back currency

Added: 17.01.2018 10:32 | 0 views | 0 comments

Saudi Arabia's King Salman ordered a deposit of US$2 billion (S$2.65 billion) to be paid into Yemen's central bank on Wednesday (Jan 17) to shore up the weak Yemeni currency, the Saudi government said.

From: www.straitstimes.com

Saudi Arabia to transfer $2 billion after urgent Yemen plea

Added: 17.01.2018 9:46 | 0 views | 0 comments

Saudi Arabia's King Salman has ordered a transfer of $2 billion to Yemen, a day after the war-torn country's Saudi-backed prime minister called on the kingdom and its allies to save the local currency from "complete collapse."

From: feeds.foxbusiness.com

Saudi Ritz Carlton to reopen after being used as luxury prison in corruption purge

Added: 17.01.2018 7:42 | 0 views | 0 comments


The luxury Riyadh hotel used as a prison during Saudi Arabia's crackdown on corruption will reopen for business next month, suggesting authorities are close to settling the cases of many suspects. Dozens of princes, senior officials and top businessmen were detained and confined in the five-star Ritz-Carlton Riyadh as the government launched the purge in early November. The some 200 detainees occupied half the hotel's 492 rooms. The rest was closed to business. The hotel's website now accepts bookings from Feb. 14, quoting a nightly rate for its cheapest room of 2,439 riyals (£480). Saudi authorities have said they expect the vast majority of suspects to agree to financial settlements of charges against them, and that Riyadh hopes to recover about $100 billion of illicit funds. A small number are expected to be prosecuted. Construction giant Saudi Binladin Group said on Saturday that some of its shareholders might transfer part of their holdings to the state in a settlement with authorities. Chairman Bakr Bin Laden and several family members were detained in the crackdown. In late November, senior Saudi Prince Miteb bin Abdullah, once seen as a leading contender to the throne, was freed after reaching a settlement with authorities that involved paying more than $1 billion, according to a Saudi official. Another top businessman who has been held at the Ritz-Carlton is billionaire Prince Alwaleed bin Talal, chairman and owner of global investment firm Kingdom Holding. A Saudi official said this week that he was negotiating a possible settlement but so far had not agreed on terms. It has been rumoured, Mr Talal, one of the world’s richest men, could be forced to pay as much as $7bn. Saudi Arabia is in the midst of a massive political and economic shake-up, marked by the sudden appointment of Prince Mohammed bin Salman as crown prince in June. The 32-year-old son of the king has spearheaded the unprecedented crackdown on corruption among members of the government and royal family, as he consolidates his grip on power in the kingdom.

UAE accuses Qatar of 'intercepting' 2 passenger planes

Added: 17.01.2018 1:20 | 0 views | 0 comments


The United Arab Emirates accused neighbouring Qatar of "intercepting" two Emirati passenger planes en route to Bahrain on Monday in the latest incident between the Gulf rivals. Qatar denied the allegations as "totally baseless" and hit back that they came "one day after a C-130 UAE military aircraft breached Qatari airspace". Tensions have escalated in the Gulf since Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut all ties with Qatar in June, accusing it of supporting Islamist extremists and being too close to Saudi Arabia's arch-rival, Iran.

From: https:

Saudi Ritz Carlton to reopen after being used as luxury prison in corruption purge

Added: 16.01.2018 22:22 | 0 views | 0 comments


The luxury Riyadh hotel used as a prison during Saudi Arabia's crackdown on corruption will reopen for business next month, suggesting authorities are close to settling the cases of many suspects. Dozens of princes, senior officials and top businessmen were detained and confined in the five-star Ritz-Carlton Riyadh as the government launched the purge in early November. The some 200 detainees occupied half the hotel's 492 rooms. The rest was closed to business. The hotel's website now accepts bookings from Feb. 14, quoting a nightly rate for its cheapest room of 2,439 riyals (£480). Saudi authorities have said they expect the vast majority of suspects to agree to financial settlements of charges against them, and that Riyadh hopes to recover about $100 billion of illicit funds. A small number are expected to be prosecuted. Construction giant Saudi Binladin Group said on Saturday that some of its shareholders might transfer part of their holdings to the state in a settlement with authorities. Chairman Bakr Bin Laden and several family members were detained in the crackdown. In late November, senior Saudi Prince Miteb bin Abdullah, once seen as a leading contender to the throne, was freed after reaching a settlement with authorities that involved paying more than $1 billion, according to a Saudi official. Another top businessman who has been held at the Ritz-Carlton is billionaire Prince Alwaleed bin Talal, chairman and owner of global investment firm Kingdom Holding. A Saudi official said this week that he was negotiating a possible settlement but so far had not agreed on terms. It has been rumoured, Mr Talal, one of the world’s richest men, could be forced to pay as much as $7bn. Saudi Arabia is in the midst of a massive political and economic shake-up, marked by the sudden appointment of Prince Mohammed bin Salman as crown prince in June. The 32-year-old son of the king has spearheaded the unprecedented crackdown on corruption among members of the government and royal family, as he consolidates his grip on power in the kingdom.

Emoji Movie and popcorn: The cinema experience returns to Saudi Arabia

Added: 16.01.2018 17:29 | 1 views | 0 comments

Hollywood fans in Saudi Arabia are getting a taste of things to come.

From: rss.cnn.com

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