Top business leaders spurn Saudi investment conference
Journalist Jamal Khashoggi's murder clouds the investment conference
Dubai /Riyadh — Saudi Arabia showcased international deals worth about $50bn as the kingdom tried to put the best possible gloss on a flagship investment summit shunned by global business leaders after the killing of journalist Jamal Khashoggi. While some of the deals were new, others had been made public previously or were merely incremental. Among genuinely fresh commitments, commodities trading house Trafigura Group signed a venture to develop a smelter and refining complex. State oil giant Saudi Aramco accounted for more than half of the 25 agreements. But away from the carefully managed announcements, the cost of the crisis that has engulfed the Saudi regime was demonstrated by German industrial heavyweight Siemens. CEO Joe Kaeser’s decision to stay away delayed the signing of a $20bn power plant contract, according to people familiar with the matter. #SaudiArabia investment conference started on Tuesday with a full standing room, but as the day progresses, the main auditorium ...
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