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 Arabia’s Al-Jubeir meets senior French officials, tours Al-Ula exhibition

Updated 11 min 17 sec ago

Saudi Arabia’s Al-Jubeir meets senior French officials, tours Al-Ula exhibition

  • Al-Jubeir met with French Minister of Foreign Affairs during his official visit
  • He also visited the exhibition the Al-Ula exhibition in Paris

LONDON: Saudi Arabia’s Minister of State for Foreign Affairs Adel Al-Jubeir met with French Minister of Foreign Affairs Jean-Yves Le Drian at the French Foreign Ministry in Paris on Tuesday.
Al-Jubeir was visiting Paris on an official visit.
During the meeting, they discussed bilateral relations and ways of enhancing them.
The two sides also reviewed the latest developments at the regional and international levels and efforts exerted to achieve world peace and security.
Al-Jubeir toured the French Parliament during his official visit to the French Republic and met with the President of the Foreign Affairs Committee of the French Parliament Marel de Sarniz, where they reviewed issues of common interest, in addition to areas of cooperation between the two countries.
Al-Jubeir also visited the exhibition “Al-Ula, Oasis of Wonderland in the Arabian Peninsula”, hosted by the Arab World Institute in Paris.
He toured the exhibition and was briefed on the rare artifacts that are considered one of the masterpieces of archaeology and cultural heritage from the Al-Ula region in Saudi Arabia, which is part of the Kingdom’s ambitions to open up to the world.