Saudi corruption settlements will net "not significantly less" than $13 bln in 2019 -minister

Saudi Minister of Finance Mohammed al-Jadaan speaks during a news conference in Riyadh, Saudi Arabia December 18, 2018. (Reuters)
Updated 19 December 2018

Saudi corruption settlements will net "not significantly less" than $13 bln in 2019 -minister

  • Mohammed al-Jadaan also said that construction giant Saudi Binladin Group would soon have a "normal board" with family members and representatives of government

RIYADH: Saudi Arabia's finance minister said on Wednesday that cash settlements from an anti-corruption campaign would net "not significantly less" in 2019 than the 50 billion Saudi riyals ($13.3 billion) collected in 2018.
Mohammed al-Jadaan also said in a Reuters interview that construction giant Saudi Binladin Group, in which the government took a roughly one third stake under the campaign, would soon have a "normal board" with family members and representatives of government ownership.
He added that the kingdom's sovereign wealth fund, the Public Investment Fund, has no role in a ministry-owned company that is managing assets seized through settlements with dozens of Saudi elite detained last year under the corruption purge.


Drones hit Aramco plant, Houthis claim responsibiltiy

Updated 17 August 2019

Drones hit Aramco plant, Houthis claim responsibiltiy

  • Houthis claim responsibility for the attack on the plant
  • The drones hit the plant, causing a small fire that was quickly extinguished

DUBAI: The Saudi energy minister Khalid Al-Falih has confirmed that a drone strike hit the Shaybah natural gas liquefaction facility causing a small fire on Saturday.

In a statement condemning the attack, Falih said there had been “no injuries” and that the fire had been put out after the several drones were fired at the plant.

“This cowardly attack once again highlights the importance of the international community's response to all terrorist agents who carry out such acts of sabotage, including the Iran backed Houthi militias,” Falih said in the statement.

The Houthis later claimed responsibility for the attack.

“Saudi Aramco’s response team controlled a limited fire this morning at the Shaybah NGL facility,” a statement released on the oil giant’s website read.

“There were no injuries and no interruptions to Saudi Aramco’s oil operations. We will provide further details as they become available.”

The Houthis have carried out a number of attacks on Saudi Arabia in recent weeks and months, targeting residential areas and airports.