Tags: ML | Lebanon | Saudi Business

Anti-corruption Campaign in Saudi Brings Hope to Businessmen

Anti-corruption Campaign in Saudi Brings Hope to Businessmen

Friday, 17 November 2017 06:39 AM

ADMA, Lebanon (AP) — Lebanon-based businessmen who lost enterprises through dealings with members of Saudi Arabia's royal family and others are closely watching a new campaign led by the powerful crown prince targeting princes and tycoons in the oil-rich kingdom.

They hope it will help them win back what they lost over the years.

Many in the kingdom believe that billions of dollars that used to be wasted annually will now go into state coffers rather than the pockets of powerful individuals. Others hope that such a move would encourage people to invest in the kingdom without fear that they could lose everything if their work is manipulated by a well-connected person.

Since the first week of November, some 201 people have been taken into custody by Saudi authorities.

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MiddleEast
Lebanon-based businessmen who lost enterprises through dealings with members of Saudi Arabia's royal family and others are closely watching a new campaign led by the powerful crown prince targeting princes and tycoons in the oil-rich kingdom.They hope it will help them win...
ML,Lebanon,Saudi Business
128
2017-39-17
Friday, 17 November 2017 06:39 AM
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