The fate of Ben Talal raises the fear of his partners and warns investors to flee
The New York Times reported that there are real concerns for Walid Bin Talal's trading partners, due to his continued detention and the ambiguity that surrounds his fate so far, with the expectation that this will lead to a contraction that will lead to a slow pace of investment in the Kingdom, at least in the short term.
The newspaper pointed out that it was more than three weeks after the arrest of Prince Alwaleed bin Talal, the most prominent investor in Saudi Arabia, in the context of large-scale detention of a number of elites and the ruling family in the country, was not heard, or issued any charges against him.
"Because he was a major investor, Al-Waleed's detention, and the lack of transparency about what happened to him, caused growing concern among his various trading partners and in much of the Western business community." According to the newspaper, which said that the incident created a sense of uncertainty among investors on whether they will deal with the Kingdom of Saudi Arabia in the next phase, which may affect the major trading partners of the Kingdom, such as the fund, "Masayoshi Son," the Japanese, the value of assets The finance sector is about $ 100 billion and Saudi Arabia holds a 45 percent stake.
The uncertainty surrounding the fate of Alwaleed will also affect the public offering of state-owned oil company Aramco, planned for next year, it said.
The paper pointed out that many partners of the Western Prince have long tried to obtain information about him, but to no avail, and could not even identify the charges against him, such as the family, "Murdoch," which had a long relationship with the Prince, and has a share of about 20 Percent in the Rotana network owned by Talal.
The arrest of Prince Alwaleed has led to some deflation, and is likely to slow the pace of investment in Saudi Arabia, at least in the short term.