Investors drop saudi stocks in light of the caution case and the last of the big Foreign Companies pulls out of a key Investment Summit in rio officials are scrambling. Just one notch above junk status a Credit Ratings downgrade for italy but other markets actually worried. Joe kayser the c. E. O. Of german industrial giant siemens announced today that hell pull out of the davos in the desert now thats the massive Investor Conference set to begin this week in riyadh move may not be a surprise in the wake of the suspected murder of journalist jamal. But for kaiser and his company its not an easy one. Preparations are well underway the mood though is muted said his future Investment Initiative a conference known by some as davos and the desert kicks off in riyadh on tuesday
but the number of participants is dwindling delicious Business Leader to pleasure the event is this man seaman c. E. O. Joe kayser he announced his withdrawal following pressure to respond to allegations of saudi invo
a tradeoff between profits and p.r. . our financial correspondent been following the. conference he joins us now from new york younes american firms were much quicker to pull out of this conference days ago it likely wasn t an easy decision for them either so what s at stake for a business. like this. well if you look at silicon valley for instance saudi investors are among the biggest investors into a u.s. take start ups in silicon valley but you also have a couple of big tech names being engaged in a multibillion dollar deal in saudi arabia and then u.s. president donald trump repeatedly talks about a possible one hundred ten billion dollar arms deal with saudi arabia the president also claims that one hundred thousand couple of thousand hundreds of thousands of