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Billionaire prince among dozens arrested in Saudi sweep

Billionaire prince among dozens arrested in Saudi sweep

World
Saudi Arabia has arrested dozens of princes and former officials, including a well-known billionaire with extensive holdings in Western companies, as part of a sweeping anti-corruption probe that further cements control in the hands of its young crown prince. A high-level employee at Prince Alwaleed bin Talal's Kingdom Holding Co. told The Associated Press that the royal was among those detained overnight Saturday. The employee, who spoke on condition of anonymity due to fear of repercussions, said he received calls from several security bodies notifying him of the arrest. The surprise arrests, which also reportedly include two of the late King Abdullah's sons, were being hailed by pro-government media outlets as the greatest sign yet that Crown Prince Mohammed bin Salman is serious about ...
Trump pitches for $2 trillion Saudi Aramco oil float

Trump pitches for $2 trillion Saudi Aramco oil float

Business
President Donald Trump has made a pitch to Saudi Arabia to float the world's biggest oil company in the US.He tweeted: "Would very much appreciate Saudi Arabia doing their IPO of Aramco with the New York Stock Exchange. Important to the United States!"The proposed share flotation will see 5% of the state-owned company sold in an Initial Public Offering next year.It is expected to list domestically and on at least one foreign exchange with New York and London vying for the deal.The Aramco IPO is expected to be the largest in history, raising around $ 100bn in revenue for the Saudi kingdom. If listed in London, it could be worth up to £56bn for the London Stock Exchange.Mr Trump was tweeting at the beginning of an 11-day trip to Asia which will take the president and First Lady Melania Trump...
Saudi Arabia buy of THAAD missile defense systems in pipeline

Saudi Arabia buy of THAAD missile defense systems in pipeline

Business
Oct. 6 (UPI) -- A proposed sale of THAAD upper tier ballistic missile defense systems to Saudi Arabia has been approved by the State Department.The U.S. Foreign Military Sales deal would be worth an estimated $ 15 billion, the U.S. Defense Security Cooperation Agency told Congress Friday."This sale furthers U.S. national security and foreign policy interests, and supports the long-term security of Saudi Arabia and the Gulf region in the face of Iranian and other regional threats," the agency said in a press release. "This potential sale will substantially increase Saudi Arabia's capability to defend itself against the growing ballistic missile threat in the region."The sales package is for 44 Terminal High Altitude Area Defense launchers, 360 THAAD Interceptor Missiles, 16 THAAD Fire Contr...
Saudi Arabia to allow women to drive

Saudi Arabia to allow women to drive

World
Women in Saudi Arabia will soon have the right to drive, according to a royal decree issued by the country's King Salman.The kingdom has long been the only state in the world where women are prohibited from driving, and the ban has been the subject of extensive protests in and outside the country.In the royal decree issued on Tuesday, King Salman stated women would have the right to obtain driving licences.A ministerial body will be formed to advise on the change within the next 30 days, and will go on to implement the new rules by June 2018, according to the decree.The news was met with joy in Saudi Arabia, with men and women dancing in the streets in celebration.Image:Women have come to depend on taxis and ride hailing services like UberThe Saudi ambassador to the US said the guardianshi...
Saudi Arabia driving ban on women to be lifted

Saudi Arabia driving ban on women to be lifted

World
Saudi Arabia's King Salman has issued a decree allowing women to drive for the first time, state media say.Government ministries are to prepare reports within 30 days and the order will be implemented by June 2018, the Saudi Press Agency reported.Saudi Arabia is the only country in the world to forbid women from driving.Rights groups have campaigned for years to allow women in Saudi Arabia to drive, and some women have been imprisoned for defying the rule."The royal decree will implement the provisions of traffic regulations, including the issuance of driving licences for men and women alike," the Saudi Press Agency (SPA) said.The move was welcomed by the US state department, which called it "a great step in the right direction".Saudi activist Loujain al-Hathloul, who was detained for 73 d...