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The Morning Risk Report: Saudi Journalist’s Disappearance Sends Chill |
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Saudi Arabia’s Crown Prince Mohammed bin Salman has promised to open up the kingdom to foreign investment as part of his plans to overhaul the economy. PHOTO: AMIR LEVY/REUTERS
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Good day. The Saudi crown prince’s plans to lure investors and transform his country’s economy face dire threats after the disappearance and alleged murder of a dissident journalist at a Saudi consulate in Turkey, The Wall Street Journal’s Rory Jones and Margherita Stancati report.
Foreign investors have begun re-examining their relationship with Crown Prince Mohammed bin Salman and their participation in his plans to overhaul the country’s economy. Some say they worry he’s put the kingdom’s stability at risk by allegedy targeting a writer with deep connections in Washington, Europe and the Middle East. The Saudi government has denied any involvement in the journalist's disapperance.
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It marks a moment for executives to choose whether they want to be associated with Prince Mohammed, said Karen Young, resident scholar at the conservative American Enterprise Institute, a Washington think tank. “For high-profile CEOs, this is not a good moment for photo ops,” she said.
Prince Mohamed had promised to open Saudi Arabia to foreign investment with ambitious plans, but investor sentiment was already mixed following a series of disruptive moves for business. The journalist’s disappearance represents a new level of risk for investors who were already wary; it also risks wasting millions spent in the U.S. on crafting the kingdom’s image.
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