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Saudi Arabia swapping assets for freedom of some held in graft purge: sources Samia Nakhoul, Katie Paul BEIRUT/RIYADH (Reuters) - Saudi authorities are striking agreements with some of those detained in an anti-corruption crackdown, asking them to hand over assets and cash in return for their freedom, sources familiar with the matter said. The deals involve separating cash from assets like property and shares, and looking at bank accounts to assess cash values, one of the sources told Reuters. Dozens of princes, senior officials and businessmen, including cabinet ministers and billionaires, have been detained in the graft inquiry at least...

The King of Saudi Arabia plans to step down and announce his son as his successor next week, a source close to the country's royal family has exclusively told DailyMail.com. The move is seen as the final step in 32-year-old Prince Mohammed bin Salman's power grab, which began earlier this month with the arrests of more than 40 princes and government ministers in a corruption probe. The source said King Salman will continue only as a ceremonial figurehead, handing over official leadership of the country to his son - often referred to as MBS.

As much as we try to paint things black and white in the Kingdom of Saudi Arabia (KSA), nothing is ever that simple. Over the past week, the Anti-Corruption Committee in KSA, driven by Crown Prince Mohammed bin Salman (MBS), effected a number of detentions of high-profile and wealthy Saudis on suspicion of various forms of corruption. Experts have argued whether the anti-corruption arrests are meant to be taken at face value or instead interpreted as a move towards political power consolidation. While it seems unlikely to be a power play since, to be frank, MBS already held it, a...

A couple of years ago I attended seminars with Chinese and Israeli counterterrorism experts in Beijing, in my capacity as a board member of a foundation that promotes Sino-Israel relations. A senior Chinese official complained that the Saudi royal family funds every radical madrassa in Xinjiang province, where Muslim Uyghurs of Turkish ethnicity form the majority. With a long and porous border stretching through sparsely-populated lands, Chinese security couldn’t prevent the funds from pouring in. I asked our Chinese hosts why they didn’t remonstrate with the Saudi government. The Chinese official said, “We talk to the Saudis all the time,...

<p>There seems to be a general consensus in Washington that Saudi Crown Prince Mohammed bin Salman’s ongoing purge of princes and businessmen — including the wealthiest of them all, the business mogul and Prince Al-Waleed bin Talal — is motivated by his determination to consolidate his power, well before his father, King Salman, passes from the scene. He is in this regard a latter-day Adonijah, who had himself crowned king while his father King David was alive. And, like Adonijah, Mohammed bin Salman has made some very powerful enemies in the process. Unlike that Biblical figure, however, he has his father’s support and has taken care to arrest anyone who might threaten his drive to preeminence.</p>

The Saudi purge will change how investors view the Kingdom Saudi Arabia suddenly arrested powerful royals and businessmen over the weekend As investors digest the news, they may demand higher returns from Saudi assets to offest the political risks Sri Jegarajah | @cnbcSri Saudi Arabia suddenly arrested powerful royals and businessmen over the weekend, in what officials call an anti-corruption drive, but outside observers deem domestic power consolidation. Either way, the move is likely making investors see Saudi assets as riskier, so they're set to demand higher returns. Some believe the extraordinary purge is an attempt by 32-year-old Crown Prince...

Prince Alwaleed bin Talal, a bitter and vocal rival of U.S. President Donald J. Trump, has been arrested in the royal family’s sweeping anti-corruption crackdown. Saudi King Salman bin Abdulaziz has arrested and removed a slew of corrupt and prominent officials, including dozens of princes and former ministers. Al Arabiya, a Saudi state-run news outlet, reported bin Talal was among those arrested. People’s Pundit Daily (PPD) confirmed he was one of at least 11 princes arrested. The billionaire chairman of Kingdom Holding Co. was once a business associate of President Trump. But his “America First” platform was a direct threat...

As next in line to be king of Saudi Arabia, Mohammed bin Nayef was unaccustomed to being told what to do. Then, one night in June, he was summoned to a palace in Mecca, held against his will and pressured for hours to give up his claim to the throne. By dawn, he had given in, and Saudi Arabia woke to the news that it had a new crown prince: the king’s 31-year-old son, Mohammed bin Salman. The young prince’s supporters have lauded his elevation as the seamless empowerment of an ambitious leader. But since he was promoted on June...

They’ve been dubbed the two princes, the rising powers behind the thrones in the budding strategic alliance between the House of Saud and the House of Trump. Jared Kushner married into Donald Trump’s family and now serves as the president’s senior advisor. His portfolio of domestic and foreign responsibilities seems to grow heavier by the day. Deputy Crown Prince Mohammed bin Salman is the Saudi defense minister and head of the state oil monopoly. More importantly, he has emerged from a crowded field of royalty to be second in line to King Salman, his 81-year-old father, who inherited the crown...

President Donald Trump met with Saudi Arabian Deputy Crown Prince Mohammed bin Salman in the White House on Wednesday. President Trump broke protocol and had lunch with the Saudi Prince in the family hall. VIDEO: Recapping #Trump's meeting with #SaudiArabia's Deputy Crown Prince #MohammedbinSalman https://t.co/U9sx9xDjsA pic.twitter.com/jL8qrAHZXL — Al Arabiya English (@AlArabiya_Eng) March 16, 2017 After the Saudi Prince met with President Trump he called the president a “True friend of Muslims.” Breitbart.com reported: Following a successful meeting between Donald Trump and his senior advisor, the Saudi Arabian Deputy Crown Prince Mohammed bin Salman described Trump as a “true friend of...

Saudi Deputy Crown Prince Mohammed bin Salman praised President Donald Trump’s “great understanding” of the Middle East and even defended his administration’s so-called travel ban.The glowing statement came after Prince Salman’s meeting with Trump to discuss relations between the U.S. and Saudi Arabia.According to the statement, the meeting “put things on the right track“ and “marked a significant shift in relations, across all political, military, security and economic fields,” all due to “President Trump’s great understanding of the importance of relations between the two countries and his clear sight of problems in the region.”Salman and Trump discussed the controversial travel...

The Saudi prince who seems to have won a family power struggle is meeting with U.S. officials this week -- some of them the same officials who are concerned his reign could be ruinous and hurt the regional security U.S. officials crave. Officials in the national security establishment believe Saudi Arabia is at a crossroads, and that if the prince doesn't succeed, now and later as king, there could be chaos in the Kingdom. "It's him or it's ISIS," said one Saudi expert who asked that his name not be used. Mohammed Bin Salman, Saudi Arabia's 30-year-old deputy crown prince,...

US President Barack Obama hosts youthful Saudi Arabian Prince Mohammed bin Salman at the White House on Friday, underscoring his guest's meteoric rise and increasingly pivotal role in strained US-Saudi ties. White House spokesman Eric Schultz said Obama would meet the 30-year-old deputy crown prince, who has become the driving force behind economic reform and a more activist Saudi foreign policy. King Salman's son, who is his country's defense minister, has met the very biggest of Washington's big hitters during a week-long visit. He held talks with the CIA director, the secretaries of state, defense and treasury, as well as...

It’s all a grand charade — the matinee show put on by the Theater of Science was merely being used for the Grand Extravaganza called the Theater of Politics.Wikileaks, not surprisingly, turned up some not-so-diplomatic and not-so-scientific goings-on in the political race to steer power and dollars.From The Guardian The US diplomatic cables reveal how the US seeks dirt on nations opposed to its approach to tackling global warming; how financial and other aid is used by countries to gain political backing; how distrust, broken promises and creative accounting dog negotiations; and how the US mounted a secret global diplomatic...