Saudi Arabia to Issue Tourist Visa to Non-Muslims; Terms & Conditions Apply


As the architect of the crackdown, Crown Prince Mohammed bin Salman, prepares to travel to the USA this month to court American investment, Saudi officials are spotlighting his reforms: his promise to let women drive, his plans to expand entertainment opportunities and his moves to encourage foreign investment.

The latest revelations came ahead of a high-profile visit to the United States by Crown Prince Mohammed bin Salman. British government officials met with their Saudi counterparts during Crown Prince Mohammed's visit to Britain last week.

He has a close relationship with Trump and his son-in-law aide Jared Kushner, who is seen as having given the green light for Prince Mohammed's rush to consolidate power in recent months.

NY and London have been front-runners to host the company's global flotation, alongside a Riyadh listing.

The delay, reported by the Financial Times, comes days after Amin Nasser, the CEO of the state-backed company, which is the world's largest oil producer, said the IPO was " progressing very well".

The company has not only been the primary source of Saudi revenue (there were, until recently, no taxes), it has also historically been used to move oil prices.

King Salman also announced that an anti-corruption conference will be held in April at which combating corruption in privatisation programs will be discussed, the Saudi government website reported.

Some of those held at the Ritz Carlton hotel were deprived of sleep roughed up interrogated with their heads covered and pressured to hand over large assets the New York Times report said citing relatives and associates of detainees
Saudi Arabia to Issue Tourist Visa to Non-Muslims; Terms & Conditions Apply

Saudi Arabia has laid out plans for Aramco's dual listing on the Saudi stock market and an global exchange, with markets in New York, London and Hong Kong vying for the offering. Bankers and analysts said an Aramco float risked drowning out other shares listed on Tadawul, given daily turnover now is about $1.6 billion.

"My fear is that they are not prepared for this new world", Floris Ansingh, a former head of Royal Dutch Shell in Saudi Arabia, said of Aramco. Princes who led military forces and appeared in glossy magazines are monitored by guards they do not command.

Trump visited Saudi Arabia previous year on his first foreign trip as president.

On Sunday, the king called for the creation of the new bodies that are meant to "increase effectiveness" and accelerate the process of combating corruption, Attorney General Sheikh Saud al-Mojeb said in an information ministry statement.

Representatives for Aramco did not immediately respond to a request for comment.

Aramco itself has worked to prepare itself for a listing, though all the major decisions - including when and where the company will be listed - will ultimately be made by its current shareholder, the Saudi government.