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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    British report on the future of the newborn bin Talal .. "settlement" to collect billions of dollars

    Rocky
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    • Post n°1

    British report on the future of the newborn bin Talal .. "settlement" to collect billions of dollars Empty British report on the future of the newborn bin Talal .. "settlement" to collect billions of dollars

    Post by Rocky Thu 14 Dec 2017, 2:06 am

    British report on the future of the newborn bin Talal .. "settlement" to collect billions of dollars
    Arabic and International  Thursday, 14 December 2017 at 10:16 am (Views 156)
    British report on the future of the newborn bin Talal .. "settlement" to collect billions of dollars 20171214_101608-821British report on the future of the newborn bin Talal .. "settlement" to collect billions of dollars

    Baghdad / Sky Press

    Saudi Arabia's Prince Alwaleed bin Talal is facing problems because of the Saudi Crown Prince's imprisonment for his "anti-corruption" campaign, which authorities say are aimed at collecting $ 100 billion from princes, businessmen and officials who said their money The result of corruption.

    "When Citigroup was suffering from financial problems, Prince Alwaleed was the quickest to bail out the US bank. When his shares collapsed, the Saudi billionaire supported Vikram Pandit, Citigroup's chief executive officer, ) And raised his stake in the bank from 4% to 5%. His intervention contributed to improving his reputation as Warren Buffett. Now Prince Alwaleed is in crisis after his imprisonment last month in the anti-corruption campaign.

    The Kingdom of Saudi Arabia (KHC) has lost a fifth of its value since Prince Alwaleed's arrest, Which has lost $ 2 billion and has become $ 16 billion, according to Forbes magazine.

    "The company has a financial position based on a prudent and prudent financial financing plan," the newspaper quoted the CEO of the holding company, in which the prince owns 95 percent, and has $ 12.5 billion under management in investments around the world. "The bankers Who are talking to the Kingdom Holding Group, which is based in Riyadh Tower, a place where many know nothing about the fate of the company, even those who worked with the Prince over the past years do not know the fate of the prince and what the impact of his imprisonment on the shares of the group.

    According to the report, Prince Alwaleed is the investment vehicle of Kingdom Holding. In his absence, every financial activity depends on its value. The kingdom says the prince was moving away from the company's executive roles even before his arrest.

    "Mr. Talal wanted to underscore the importance of the role of experienced executives and their focus on the firm responsibility of shareholders in the Kingdom," said Al Maiman.

    Local and international lenders are concerned about the uncertainty surrounding the prince's arrest, so they have suspended $ 1 billion in loans to buy 16 percent of the French-Saudi bank from Credit Agricole, a Saudi banker said. "He is supposed to trade on his future. But in the general sense it is over now. "

    According to the report, Ibn Talal was among 159 members of the royal family who were arrested at the Ritz-Carlton as part of Crown Prince Mohammed bin Salman's campaign against corruption. Some of them agreed to give up part of his wealth to the government in exchange for his freedom. By targeting the accounts of detainees; in order to collect $ 100 billion, the size of the national public debt.

    The newspaper quotes people familiar with the investigation as saying that Alwaleed will face charges in court instead of agreeing to settlements. He has appointed lawyers to defend him, but a banker with Alwaleed, 62, said he could reach a settlement for his release, In which case he would forgo funds and balances.

    The report quoted an executive director close to the prince as saying he had decided to stay abroad, fearing that his crackdown would expand, while another planned to move his money out of the Gulf so as not to be hit by a purge campaign, another banker said.

    Prince Alwaleed established Kingdom Holding in 1980 and has shares in Twitter, Four Seasons Hotels, Euro Disney and Fly NAS. He has extensive land stretching from Riyadh to the Eastern Province where he plans to develop it, Noting that it may be in addition to local and media projects, such as Rotana "media group, the basis for the settlement.

    The newspaper quoted some as saying that the prince had weighed heavily on his debt in recent years, but others said he was reducing debt by selling his assets. He also sold his stake in Robert Murdoch Media and a chain of hotels in Lebanon. Bank "in 1991, and remains the main investment of the company, although its share now is less than 3%.

    The report reveals that the bank plans to return to the Saudi market after leaving it in the wake of the September attacks, where it obtained a license in April, but people close to the prince say it was not part of plans to expand operations in Saudi Arabia, pointing out that the bank Did not say anything about the fate of a major shareholder, and described the CEO of the bank, Michael Corbatt, Prince Talal as "a loyal supporter of the company."

    "We have a number of people who have been arrested under this broad address (anti-corruption), and we have no details about the charges," the Financial Times concluded by referring to Corbath's remarks in Bloomberg television.


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