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.


Saudi railway wins international award for safety measures

Updated 25 min 36 sec ago

Saudi railway wins international award for safety measures

RIYADH:  The Saudi Railways Co. (SAR) won the International Safety Award for 2020 from the British Safety Council for the second time in a row for its exemplary management of health, safety and environmental risks.

CEO of SAR Dr. Bashar bin Khalid Al-Malik said that the company puts at the forefront of its strategic plans the application of the highest safety standards in operating the rail network in the Kingdom.

He said that SAR accords top priority to the culture of safety in the management, operation and maintenance of its trains by following international laws that have proven effective in ensuring safety in the work environment.

Al-Malik said: “We are proud that SAR wins such international awards, which reflect the efforts and decisions taken to apply and develop health and safety measures.”