Erica Pandey Nov 5
Saudi crown prince consolidates power after round of arrests
Saudi Arabia's crown prince, Mohammed bin Salman, ordered the arrests of dozens of influential people, including 11 of his royal cousins and Prince Alwaleed bin Talal — the billionaire Saudi investor in Apple, Twitter and the Four Seasons.
- The big picture: His move, "presented as a crackdown on corruption," appears to be "the most sweeping transformation in the kingdom's governance for more than eight decades," NYT's David Kirkpatrick reports.
- But, but, but: "Crown Prince Mohammed's haste ... may now come at a price, because the lack of transparency or due process surrounding the anticorruption crackdown is sure to unnerve the same private investors he hopes to attract — including through a planned stock offering of the huge state oil company, Aramco."