Kingdom Holding shares surge on Prince Alwaleed's release

In Nissan’s latest campaign themed #SheDrives a group of Saudi women were taken out for their first lesson behind the wheel. AP

Saudi billionaire Prince Al-Waleed bin Talal was released on January 27 after almost three months in detention following a "settlement" with authorities, as a sweeping anti-corruption campaign targeting the kingdom's elite winds down. However, he will remain at home under guards' eyes.

Alwaleed told Reuters on Saturday that there were "no charges" against him and that he was in discussions with the government.

The details of the settlement were unknown.

The staff also received an official e-mail congratulating them on his freedom.The Financial Times reported earlier on January 26 that authorities had ordered Ibrahim to hand over his controlling stake in MBC to secure his release.Authorities have so far not commented on his case.

Just days earlier, the hotel had hosted a conference dubbed "Davos in the Desert" where 3,500 business leaders and government officials met to discuss the kingdom's ambitious Vision 2030 plan to diversify away from oil.

Brutal photo shows Hyeon Chung's Australian Open injury
I find it disappointing when their breakthroughs come at 27, because then we know them for seven years, let's say. However, he noted that Chung's game, which features clay-court style sliding on hardcourts, could take a toll.

The announcement of the arrest of the billionaire prince had caused a stir in the financial markets, including lowering the share price of Kingdom Holding Company, the worldwide investment company of which Prince Al-Waleed holds 95%.

His arrest came as part of a power struggle to consolidate the grip of Crown Prince Mohammed bin Salman, the top adviser of King Salman.

Prince Alwaleed told Reuters he was continuing to maintain his innocence of any corruption in talks with authorities.

The purported anti-corruption sweep is spearheaded by Prince Alwaleed's much younger cousin, 32-year-old Crown Prince Mohammed bin Salman.

Earlier reports indicated that MbS was asking Alwaleed had been refusing MbS demand of giving -up ownership of the entire Kingdom Holding Company. If a settlement was not reached, Alwaleed was set to demand a trial.

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This would represent an upgrade for Tottenham and a crucial one at that as they look to add a different dimension to their game. PSG coach Unai Emery has confirmed that he won't stand in the player's way and said: "I spoke with Lucas".

"He has he arrived home", a family member said.

Saudi authorities have said they expect to raise some $100 billion for the government through settlements with businessmen accused of graft.

By midweek, 95 people were still being held, though several more were released over the weekend.

On Friday, it was reported that several detained businessmen had secured their release through financial settlements, including MBC television network owner Waleed al-Ibrahim.

Saudi authorities claim it will help finance a 50 billion royal ($13.3 billion) package to help citizens cope with the rising cost of living, although there still appears to be little transparency in upper echelons of government.

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