BUSINESS
Saudi threat to break 45-year taboo to weaponise oil
October 16, 2018 - Pressure is growing in Saudi Arabia to explain the fate of journalist Jamal Khashoggi. Riyadh has angrily rejected a backlash from U.S. businesses and media with threats that it could force up the price of oil.
BlackRock Chief Executive Larry Fink and Blackstone Group CEO Stephen Schwarzman have become the latest senior executives to withdraw from the Future Investment Initiative conference in Riyadh amid concerns about the missing journalist.
They join JP Morgan Chase Chief Executive Jamie Dimon and Ford Motor Co. Chairman Bill Ford, both keynote speakers at the so-called “Davos in the Desert”.
Executives from media, technology and financial firms have in the last few days withdrawn from the conference, part of Saudi Crown Prince Mohammed bin Salman's efforts to modernise the country’s economy.