Published: Tue, March 13, 2018
Culture&Arts | By Laurence Reese

Trump to Host Saudi Crown Prince Next Week

Trump to Host Saudi Crown Prince Next Week

While London is preferred over NY, the requirement by both for greater disclosure of sensitive information on Aramco than the Hong Kong exchange is viewed as a drawback by some Saudi officials and advisers, the sources said.

Saudi Arabian Oil Co, known as Saudi Aramco, was not immediately available for comment.

The newspaper interviewed relatives, advisers, associates of the detainees, as well as Saudi officials, who denied the allegations.

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Aramco is one of the giants in the world of oil production, and its initial public offering is likely to be valued at a minimum of several hundred billion dollars. Saudi officials have not-so-privately indicated that they hoped the company would be valued at some $2 trillion.

Saudi King Salman's order to establish new anti-corruption units as part of the kingdom's anti-graft campaign comes as fresh revelations have emerged of how detainees swept up in the campaign were treated and where their assets have gone. "Kate Osamor, the shadow global development secretary, said the move allowed the Saudi government to "whitewash" its reputation and role in the Yemen war..."

The nation is also deciding where to list shares of the company.

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"My fear is that they are not prepared for this new world", Floris Ansingh, a former head of Royal Dutch Shell in Saudi Arabia, said of Aramco.

Meanwhile, Saudi Crown Prince Mohammad bin Salman, who is identified as the architect of the crackdown, is planning to come to the United States this month seeking American investments. Princes who led military forces and appeared in glossy magazines are monitored by guards they do not command.

Business Secretary Greg Clark and Saudi Arabia's Minister of Energy, Industry and Mineral Resources, Khalid Al-Falih, agreed to work closely on reducing harmful carbon emissions while ensuring economic growth.

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On Sunday, the king called for the creation of the new bodies that are meant to "increase effectiveness" and accelerate the process of combating corruption, Attorney General Sheikh Saud al-Mojeb said in an information ministry statement.

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