WATCH: Investors are absolutely turned off by Alwaleed’s detainment
Alastair Newton, Alavan Business Advisory director, discusses the market implications of Saudi Arabia’s corruption crackdown. He speaks with Bloomberg’s Scarlet Fu, Joe Weisenthal and Julia Chatterley on “What’d You Miss?”
Commenting on detaining international investor Prince Alwaleed Bin Talal, he said that the prince had been openly critical of the regime from time to time, he is certainly not a prince in a position to take over the helm in Saudi.
“Investors will be absolutely turned off by these events and they will start looking carefully at the fate of Alwaleed.”
Newton said he and other investors he met at the “Davos in the Desert” late October, were not convinced that Saudi has changed much from the past, despite the well organized event.
“Lots of style but not a whole lot of substance vis-a-vis a true roadmap towards Vision 2030,” he said