ADMA: Lebanon-based businessmen who lost enterprises through dealings with members of Saudi Arabia’s business community are closely watching a new campaign led by Crown Prince Mohammed bin Salman targeting officials, princes and tycoons in the Kingdom, hoping it will help them win back what they lost over the years.
Many in the Kingdom welcome efforts to fight rampant corruption and abuse of power, and many outside it hope the move will encourage people to invest in the Kingdom without fear.
Since the first week of November, some 201 people have been taken into custody by Saudi authorities in a sweep that investigators say has uncovered at least $100 billion in corruption.
The crackdown that began on Nov. 4 initially targeted 11 princes, 38 officials, military officers as well as business leaders. An estimated 1,700 individual bank accounts have been frozen.
Pierre Daher, who founded the first private TV station in Lebanon in 1985 and turned it into one of the top media outlets in the Arab world, has been locked in court cases with detained Saudi Prince Alwaleed bin Talal, one of the world’s richest men, since 2011. The prince, whose maternal grandfather Riad Solh was once Lebanon’s prime minister and also holds Lebanese citizenship, has investments that include Twitter, Apple, Citigroup and the Four Seasons hotel chain and was once a significant shareholder in Rupert Murdoch’s News Corporation, but sold much of those shares in 2015.
Their court battles are over Lebanon’s leading LBC and the affiliated Production and Acquisition Co., widely known as PAC, which filed for liquidation in 2012. Some 400 PAC employees lost their jobs and are still waiting for Prince Alwaleed to compensate them.
Prince Alwaleed and Daher, now chairman and CEO of LBC, were once allies when the prince pumped money into LBC TV before the two split over several issues and Daher was removed from his job as head of PAC. Prince Alwaleed ended up taking over the LBC SAT and PAC while Daher took LBC.
Lebanese media outlets reported this month that two Beirut hotels owned by Prince Alwaleed’s Kingdom Holding are for sale. The Four Seasons and Movenpick Hotel are among Beirut’s most luxurious hotels and are located in two of the capital’s most posh neighborhoods.
“If the hotels are not in the person’s name, not in the name of the defendant himself in person, you cannot garnish them since they belong to a company,” said Paul Morcos, legal expert and founder and owner of Justicia Consulting Law firm in Beirut.
Attempts to reach a representative of Prince Alwaleed at Kingdom Holding were not immediately successful.
Another person who lost millions of dollars in the Kingdom as a result of alleged corruption is Lebanon-based US citizen Yahya Lotfi Khader who for more than 20 years ran petrochemical businesses along with his two partners in eastern Saudi Arabia.
The Syria-born, 57-year-old businessman said he left the Kingdom two years ago after he became the victim of interference by officials who worked in the office of a once powerful prince. Khader put forward documents that proves they have lost tens of millions of dollars in cases that he says were manipulated by powerful people in the Kingdom.
Khader said the first step by Crown Prince Mohammed bin Salman is to fight corruption and people in the Kingdom have been waiting for an “awakening against corruption.” Khader said “Saudi Arabia has all the capabilities to become one of the most important countries in the world if we can fight corruption and it will not be an easy mission but we are very optimistic about what happened.”
Khader has sent documents listing all the injustice they were subjected to in the Kingdom to the office of King Salman and crown prince hoping that it could help them return to the Kingdom and get back their money that are worth tens of millions of dollars.
“Today there is a new Saudi Arabia that is totally different from what it used to be but it is still early to judge it,” said Daher of LBC.
Anti-corruption campaign in Saudi Arabia brings hope to businessmen
Anti-corruption campaign in Saudi Arabia brings hope to businessmen
Saudi Arabia condemns attacks by ‘outlaw groups’ in Syria
RIYADH: Saudi Arabia has condemned the targeting of security forces and crimes by “outlaw groups” in Syria, a foreign ministry said early Friday.
“The Kingdom affirms its support for the Syrian government in its efforts to maintain security and stability and preserve civil peace,” the statement concluded.
Saudi FM participates in GCC-Jordan ministerial meeting
RIYADH: Saudi Foreign Minister Prince Faisal bin Farhan participated on Thursday in the seventh GCC-Jordan joint ministerial meeting of foreign ministers in Makkah, the Saudi Press Agency said.
The meeting discussed regional issues including the Palestinian cause and the efforts made to achieve regional security and stability.
It also tackled ways of boosting GCC-Jordanian relations and supporting partnerships.
The meeting was headed by Kuwait’s Foreign Minister Abdullah Al-Yahya.
Saudi-Moroccan foreign ministers co-chair 14th session of joint committee in Makkah
MAKKAH: Saudi Minister of Foreign Affairs Prince Faisal bin Farhan, and Minister of Foreign Affairs, African Cooperation and Moroccan Expatriates Nasser Bourita co-chaired in Makkah the 14th session of the Saudi-Moroccan Joint Committee.
The event was attended by senior officials from ministries, government agencies and private-sector institutions from both sides.
The convening of the meeting reaffirms the strong ties between the two countries and aims to boost cooperation in all areas of common interest.
Both sides appreciated the efforts of the entities involved in the committee’s work to meet the aspirations of both leaderships. They also emphasized their commitment to strengthening cooperation across various fields to further elevate their strong relations.
Crackdown on environmental offenders in Saudi Arabia
RIYADH: The Special Forces for Environmental Security in Saudi Arabia took action in three separate incidents of environmental law infringement, the Saudi Press Agency reported.
The forces apprehended two citizens for environmental offences after they cut protective fencing and entered the Imam Turki bin Abdullah Royal Reserve without proper permits. The authorities have implemented statutory procedures against the offenders and referred them to the authorities.
In a separate incident, authorities arrested a Sudanese resident for environmental offences in the Makkah region, where he was caught burning waste illegally, causing soil pollution and environmental damage. Legal measures were taken against him before referring his case to the authorities.
Authorities also intercepted a Saudi citizen transporting one cubic meter of locally harvested firewood in the Riyadh region. Standard legal procedures were applied, and the confiscated materials were handed over to the relevant authorities.
According to official statements, penalties for cutting or damaging fences in protected areas can reach SR100,000 ($26,665), with offenders required to repair damages and pay compensation.
KSrelief distributes 500 food baskets in Conakry, Guinea
CONAKRY: The King Salman Humanitarian Aid and Relief Center recently distributed 500 food baskets in the city of Conakry, Guinea, benefiting 500 families, totaling 3,513 individuals.
This comes within the framework of the Kingdom’s humanitarian and relief efforts to help needy and affected populations worldwide with various forms of relief.
The center also distributed 150 food baskets in Bijelo Polje, Montenegro, benefiting 750 individuals from the most vulnerable groups, widows and orphans. These initiatives come as part of the Etaam food basket distribution project.
Meanwhile, 1,440 food parcels were delivered to displaced families in Sudan’s Sennar and Khartoum states.
In Mauritania, 574 food bags were distributed in the Tiaret district, while in Kosovo, the center distributed 1,150 food baskets across Klina, Peja, Decan, and Gjakova. In Ghana, KSrelief distributed 825 food baskets in Old Tafo, while 300 food baskets were provided in Syria’s Rif Dimashq.
