Saudi’s to Propose Substantial Price in Exchange For Freedom

Saudi authorities are negotiating a price for the freedom of princes and businessmen held over allegations of corruption, the Financial Times reported.The Saudi government is looking to appropriate as much as 70 percent of a suspect’s wealth in some cases, the Financial Times reported Thursday, citing sources which could not be verified by CNBC. The settlements have the potential to channel hundreds of billions of dollars into depleted state funds.At the start of November, Crown Prince Mohammed bin Salman suddenly ordered the arrest of powerful royals and businessmen. Kingdom officials described the extraordinary purge as a crackdown on corruption while others called the exercise a power grab meant to smooth the way for the 32-year-old’s anticipated rise to the throne.

Source: Saudi officials reportedly offer freedom to arrested royals — in exchange for 70% of their wealth – CNBC

Oil Close Leaves Longs Nervous

Turning the Page on Part One of Tax Reform

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.