Saudi Arabia has been admitted to the FTSE emerging markets index — a move that could bring tens of billions of dollars into the country.
The many empty seats at a high-profile investment conference in Riyadh appeared to suggest the murder of journalist Jamal Khashoggi might hit Saudi Arabia where it hurts most. But €40 billion will soften most scruples.
Saudi Arabia's reputation has suffered massively as a result of Jamal Khashoggi's suspected murder. World leaders are keeping their distance. The country could be hostile in the face of criticism, or enact reforms.
Saudi Arabia and funding partner SoftBank have reportedly shelved the $200 billion project. It was part of the kingdom's economic transformation plan and would have produced three times the energy that the country needs.
The chief executive of the German industrial conglomerate, Joe Kaeser, will not attend the Saudi-organized Future Investment Initiative this week. He said his decision was "the cleanest" though not "the most courageous."
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