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corruption crackdown

Saudi Arabia says 201 people held in corruption crackdown

RIYADH: Saudi Arabia said Thursday 201 people are being held for questioning over an estimated $100 billion in embezzlement and corruption, after the biggest purge of the kingdom's elite in its modern history. Princes, ministers and a billionaire business tycoon were among dozens of high-profile figures arrested or sacked at the weekend, as Crown Prince Mohammed bin Salman consolidates power. The purge comes amid heightened regional tensions, with Saudi Arabia and Iran facing off over a missile attack from Yemen and a…

Saudi Arabia seeks to reassure investors after corruption crackdown

RIYADH: Saudi Arabia sought to reassure investors on Tuesday that a sweeping anti-corruption purge would not affect businesses, including those with ties to arrested suspects, as authorities appeared to widen the crackdown. Dozens of high-profile figures including princes, ministers as well as billionaire tycoon Al-Waleed bin Talal were arrested at the weekend, in the biggest purge of the kingdom's elite in modern Saudi history. The crackdown has triggered uncertainty among businesses that could intensify capital…