Saudi Arabia recorded a budget deficit of $79bn last year and low oil prices have pushed the country into a recession. The arrests were ordered by King Salman via his son and heir, Crown Prince Mohammed bin Salman. Their crackdown appears to be popular with Saudis who believe their country is plagued by corruption among members of the royal family and well-connected businessmen. The FT said many of those detained were keen to secure their release by signing over cash and corporate assets. The crown prince told the Guardian last month that he wished to “return Saudi Arabia to moderate Islam”, breaking the alliance between Wahhabi clerics and the country’s ruling elite.

Source: The Guardian November 16, 2017 18:45 UTC