Over the weekend from Saudi Arabia:
- Prince Alwaleed bin Talal, plus at least 10 other princes, four ministers and many former ministers were arrested Saturday night.
- A plane transporting eight Saudi officials reportedly crashed near Abha. Saudi state outlets now confirm Prince Mansour bin Muqrin was aboard and has died in the crash
While we await Europe/UK trading to kick off, some more. These via Bloomberg:
Saudi Prince's Corruption Sweep Reaches Aramco
- A Saudi Aramco director and a member of the royal council overseeing the world's biggest oil exporter were arrested along with other top officials
Shakeup Stuns Analysts Who Say It Shows Saudis Mean Business
- Purges haven't "been done at this scale or in this public manner before," said Mohammed Ali Yasin, the chief executive officer of Abu Dhabi-based NBAD Securities LLC. "Accountability has been introduced, no one is immune. Everybody will be worried now. Some of these names have been there for 30 years. This affects Kingdom Holding, Saudi Airlines and the Finance Ministry."
