Saudi economy vulnerable as corruption probe hits business old guard


  • World
  • Tuesday, 07 Nov 2017

A view shows the Ritz-Carlton hotel's entrance gate in the diplomatic quarter of Riyadh, Saudi Arabia, November 5, 2017. REUTERS/Faisal Al Nasser

RIYADH (Reuters) - Two weeks ago the glitzy Ritz Carlton hotel in Riyadh was the site of an international conference promoting Saudi Arabia as an investment destination, with over 3,000 officials and business leaders attending.

Now the hotel is temporarily serving as a luxury prison where some of the kingdom's political and business elite are being held in a widening crackdown on corruption that may change the way the economy works.

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