A purge of Saudi Arabia’s political and business elites briefly dragged down the kingdom’s stock market on Sunday but prices recovered to close higher as some investors bet the crackdown could bolster reforms in the long run.
The size of the purge — 11 princes, four ministers and tens of former ministers were detained by a newly created anti-corruption committeeRead more
The plug has been pulled permanently on Al Arab, the 24-hour Arabic-language satellite news channel set up by Saudi entrepreneur Prince Al Waleed Bin Talal, a Saudi report said.
The pan-Arab station has informed its staff about the decision to shut down and about the procedures for financial settlements, news site Sabq reported on Monday.
Al Arab was founded inRead more