An anti-corruption probe that has purged Saudi Arabian royals, ministers and businessmen appeared to be widening today after the founder of one of the kingdom's biggest travel companies was reportedly detained.
The Saudi stock index was down 1.1 percent in early trade, and Al Tayyar Travel plunged 10 percent in the opening minutes after the company quoted media reports as saying board member Nasser bin Aqeel al-Tayyar had been held by authorities.
The company gave no details but online economic news service SABQ, which is close to the government, reported Tayyar had been detained in an investigation by a new anti-corruption body headed by Crown Prince Mohammed bin Salman.
Dozens of people have been detained in the crackdown, which has consolidated Prince Mohammed's power while alarming much of the traditional business establishment. Billionaire Prince Alwaleed bin Talal, Saudi Arabia's best-known international investor, is also being held, officials said at the weekend.
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The front page of leading Saudi newspaper Okaz challenged businessmen today to reveal the sources of their assets, asking: "Where did you...
