Tag Archives: Business

Jamie Dimon Joins Growing List Of Business Leaders Skipping Saudi Conference

Jamie Dimon Joins Growing List Of Business Leaders Skipping Saudi ConferenceJamie Dimon, chief executive of JPMorgan Chase, and Bill Ford, chairman of the



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Saudi faces business backlash over Khashoggi disappearance

Saudi faces business backlash over Khashoggi disappearanceSaudi Arabia’s Crown Prince Mohammed bin Salman is facing a backlash over the disappearance of journalist Jamal Khashoggi from business and media previously supportive of his reform drive, with partnerships at risk and big names boycotting a major conference this month. The crown prince, the son of King Salman, has spearheaded an ambitious programme known as Vision 2030, aiming to make the oil-rich conservative kingdom a hub for global innovation and better able to respond to the demands of its increasingly youthful population. Despite enduring criticism of Saudi’s human rights record and its role in the war in Yemen, business chiefs, investors and prominent media figures have been impressed by the crown prince’s rhetoric and backed his vision of a new Saudi Arabia.



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Sir Richard Branson freezes Saudi business ties over disappearance of Jamal Khashoggi

Sir Richard Branson freezes Saudi business ties over disappearance of Jamal KhashoggiBillionaire businessman Sir Richard Branson has ratcheted up pressure on Saudi Arabia over the disappearance of a prominent journalist by freezing several business links to the Gulf kingdom. The Virgin Group founder joined a mounting chorus of international concern about the fate of Jamal Khashoggi, who vanished last week. The journalist has not been seen since visiting the Saudi consulate in the Turkish city of Istanbul, sparking claims he was killed in the building. Foreign Secretary Jeremy Hunt and US President Donald Trump are among the political figures who have demanded answers from Saudi Arabia over the case. On Thursday evening, Sir Richard said he would be suspending his directorship of two tourism projects in the country, while Virgin would halt discussions with the Saudis over investment in its space projects. Sir Richard Branson  Credit:  James D. Morgan/Getty He warned that, if fears are confirmed, the West would struggle to continue doing business with the Gulf kingdom. His statement said: "I had high hopes for the current government in the Kingdom of Saudi Arabia and its leader Crown Prince Mohammed bin Salman and it is why I was delighted to accept two directorships in the tourism projects around the Red Sea. "I felt that I could give practical development advice and also help protect the precious environment around the coastline and islands. "What has reportedly happened in Turkey around the disappearance of journalist Jamal Khashoggi, if proved true, would clearly change the ability of any of us in the West to do business with the Saudi Government. "We have asked for more information from the authorities in Saudi and to clarify their position in relation to Mr Khashoggi. "While those investigations are ongoing and Mr Khashoggi's presence is not known, I will suspend my directorships of the two tourism projects. Virgin will also suspend its discussions with the Public Investment Fund over the proposed investment in our space companies Virgin Galactic and Virgin Orbit." Police CCTV allegedly shows suspects in the case of missing Saudi journalist Jamal Khashoggi  Credit: AFP His interventions comes after a Turkish newspaper published the names and photographs of 15 Saudi nationals who allegedly arrived in Istanbul on two private jets the day Mr Khashoggi went missing. The Sabah newspaper, which is close to Turkish president Recep Tayyip Erdogan, revealed the identities of what it called a "mysterious" 15-member "assassination squad" who were allegedly involved in the disappearance. A critic of the kingdom's de facto ruler Crown Prince Mohammed bin Salman, Mr Khashoggi was living in self-imposed exile in the US and writing opinion pieces for the Washington Post before he vanished. He visited the consulate last Tuesday to obtain a document confirming he had divorced his ex-wife, in order to allow him to remarry. Turkish officials have said he was killed on the premises and his body removed. On Tuesday, Jeremy Hunt met the Saudi ambassador and spoke by telephone to his counterpart in the state to voice the UK's concerns about the case. Mr Hunt said that if reports of Mr Khashoggi's death proved correct, the UK would regard the situation as "serious", adding: "Friendships depend on shared values." Mr Hunt urged the Saudi Government to co-operate fully with the Turkish investigation into the case, and to provide further information as soon as possible. The Turkish authorities are set to conduct a search of the Istanbul consulate building after announcing that Saudi Arabia had declared itself "open to co-operation" in the investigation. Turkish President Recep Tayyip Erdogan has not confirmed the alleged killing, saying he would await the result of an investigation. Saudi officials have denied the allegations as baseless.



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Bin Laden business grew from humble beginnings

Bin Laden business grew from humble beginningsJEDDAH/RIYADH (Reuters) – In Saudi Arabia, the Bin Ladens are known as the Kennedys of Jeddah for their wealth and tragedies. Younger son Osama plotted the 9/11 attacks on the United States. Mohammed arrived in Saudi Arabia from Yemen during the 1920s as an impoverished teenager, blind in one eye.



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PayPal ends business dealings with Alex Jones's Infowars

PayPal ends business dealings with Alex Jones's InfowarsThe move makes PayPal the latest tech company to take action against Jones, a deeply controversial right-wing radio talk-show host who has suggested that the 2012 Sandy Hook massacre was a hoax, among other sensational claims. “We’ve made a decision to end our relationship with Infowars websites, including PrisonPlanet,” a PayPal spokesman said.



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Samsung heir among business leaders joining South Korea's visit to Pyongyang

Samsung heir among business leaders joining South Korea's visit to PyongyangThe heir to the Samsung empire and the leaders of several other South Korean conglomerates will go to Pyongyang this week for an inter-Korean summit, Seoul announced Sunday. Samsung's Lee Jae-yong and the heads of the SK and LG groups will be part of President Moon Jae-in's delegation as he heads for a meeting with the North's leader Kim Jong-un, Moon's office said. Kim Yong-hwan, vice-chairman of Hyundai Motor Group – whose founder was a refugee from the North – will be among the entourage. Hyun Jeong-eun, chairwoman of the separate Hyundai Group which pioneered many cross-border economic projects, will also accompany Mr Moon. Ms Hyun met Kim's father Kim Jong-il several times. She was among the first South Koreans to meet the young leader when he assumed power following his father's death in 2011. Mr Moon, who favours dialogue with the North to nudge it toward denuclearisation, has advocated closer economic ties across the border, despite multiple sanctions on the North over its atomic weapons and ballistic missile programmes. North Korean leader Kim Jong Un, left, and South Korean President Moon Jae-in raise their hands after signing a joint statement in April 2018  Credit: Korea Summit Press Pool via AP, File He is set to fly to the North's capital Tuesday for a three-day summit with Kim – his third meeting this year with the young ruler of the isolated country. The delegation of about 200 includes top Seoul officials including its spy chief, foreign minister and defence chief as well as prominent figures in the economy, religion, culture and sports, Mr Moon's office said. Mr Lee is the de facto leader of the Samsung group, by far the South's biggest conglomerate, which includes Samsung Electronics – the world's largest maker of smartphones as well as memory chips. Other delegates include Archbishop Hyginus Kim Hee-jung of the Catholic church, a female ice hockey player who led the joint inter-Korean team which competed in the South's 2018 Winter Olympics, and K-pop star Ailee. US efforts to persuade the nuclear-armed North to disarm have been stalled for months after Kim and Donald Trump, the US president, vowed to denuclearize the peninsula at a landmark summit in June. Mr Moon, who was instrumental in brokering that meeting, is hoping to play the role of a mediator again this week. He is also expected to discuss several joint economic projects agreed during his first summit with Kim at the border truce village of Panmunjom in April.



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More than 150 people arrested in immigration raid on Texas business

More than 150 people arrested in immigration raid on Texas businessThe raid was conducted by Homeland Security Investigations (HSI), a branch of Ice. Agents from US Immigration and Customs Enforcement (Ice) arrested more than 150 people at a trailer manufacturer in north Texas based on allegations of immigration violations. At a Tuesday news conference shortly after the raid, officials called the arrests “one of the larger work site enforcement operations conducted at one site in the past 10 years”.



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China says business ties with Iran no harm to any other country

China says business ties with Iran no harm to any other countryChina’s business and energy ties with Iran do not harm the interests of any other country, the country’s Foreign Ministry said, after U.S. President Donald Trump said companies doing business with Iran would be barred from the United States. China has already defended its commercial relations with Iran as open and transparent as U.S. sanctions on Iran took effect despite pleas from Washington’s allies. In a statement released late on Friday, China’s foreign ministry reiterated its opposition to unilateral sanctions and “long-armed jurisdiction”.



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Trump warns world against business with Iran as sanctions return

Trump warns world against business with Iran as sanctions returnUS President Donald Trump warned the world Tuesday against doing business with Iran as Washington reimposed “the most biting sanctions ever” on the Islamic republic, triggering a mix of anger, fear and defiance in Tehran. Trump’s May withdrawal from a landmark 2015 nuclear deal with Tehran had spooked investors and triggered a run on the Iranian rial long before the punishing sanctions went back into force. Iran’s markets were actually relatively buoyant, with the rial strengthening by 20 percent since Sunday after the government relaxed foreign exchange rules and allowed unlimited, tax-free gold and currency imports.



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After N.C. Boy's Lemonade Stand Is Robbed at Gunpoint, He's Gifted Lawnmower for His Landscaping Business

After N.C. Boy's Lemonade Stand Is Robbed at Gunpoint, He's Gifted Lawnmower for His Landscaping BusinessPolice said the armed robbery of the 9-year-old's lemonade stand was "a new low."



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