One would expect that Jamal Khashoggi's killing and allegations related to Jeff Bezos' phone hacking would make doing business with Saudi Arabia socially unacceptable. Don’t count on it, writes columnist hiltzikm.
California’s privacy law kicks in Jan. 1, but it’s just a start
As for equity investments, Saudi Arabia was officially designated an emerging market last year through its inclusion in the FTSE Russell Emerging Markets Index. That’s expected to prompt an inflow of billions of dollars of passively invested money into Saudi companies. “Many investors may be invested in Saudi Arabia and not even know it,” Young says.
The Saudis have set forth an ambitious project to accomplish those ends, known as Vision 2030. The idea is to create home-grown technological and defense industries virtually from scratch, a program that necessarily will accommodate heavy investment from overseas. Last year the regime signed a new 10-year contract with the wrestling event company WWE, although the relationship was rattled by the Khashoggi killing. In announcing its third-quarter 2018 results at the end of that year, WWE observed that “considering the heinous crime committed at the Saudi consulate in Istanbul, the company faced a very difficult decision as it relates to its event scheduled for Nov. 2 in Riyadh.” But it added, “similar to other U.S.
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