Saudi purge hits close to home for Canadian investors: Olive - News Summed Up

Saudi purge hits close to home for Canadian investors: Olive


In an abrupt re-ordering of the Saudi power structure, Saudi King Salman directed his son and designated successor, Crown Prince Mohammed bin Salmon, to arrest 11 of the Saudi kingdom’s highest-ranking princes. For decades until last weekend, outside investors in Saudi Arabia had to account for power-sharing among princes vying for influence within the ruling House of Saud. Mohammed's ambition to reinvent Saudi Arabia is likely to promote the emergence of rival factions in the House of Saud and the country's powerful clerical groups. As defence minister since 2015, MBS has been unsuccessful in the costly war Saudi Arabia is waging in Yemen. In contrast to an opaque Saudi Arabia, an outspoken al-Waleed is easily the world’s best-known Saudi prince.


Source: thestar November 07, 2017 16:16 UTC



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