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Other companies and high-profile businessmen have pulled out of the three-day conference known as “Davos in the desert,” which is scheduled to begin on Oct. 23 in Riyadh. Foreign minister Khalid bin Ahmed Al Khalifa tweeted two hashtags calling for a boycott of Uber in Bahrain and Saudi Arabia, as well as a broader hashtag urging followers to “boycott anyone who boycotts Saudi Arabia.”. It was unclear if the boycott call was aimed at users of Uber’s service or investors in the company, or both, and whether Bahrain is planning other measures against the company.
Similar campaigns have been trending on social media in Saudi Arabia and the UAE, although there has been no official backing so far, Khalaf Ahmad Al-Habtoor, a prominent UAE businessman, also urged boycotts of companies pulling out of the FII conference, including of Uber and Virgin [VA.UL], “Now it is time for GCC (Gulf Cooperation Council) to prove their loyalty by boycotting Virgin and Uber and all the companies pulling out of KSA., Together we can prove our unity and that mens chain cufflinks we cannot be bullied,” he said in a Twitter post..
Uber declined to comment. Virgin Atlantic, which operates flights between Dubai and London but will withdraw the service from March 31, 2019, did not immediately respond to a request for comment. On Sunday, JP Morgan Chase & Co (JPM.N) Chief Executive Jamie Dimon became the latest high-profile participant to cancel plans to attend the FII, following the disappearance of Saudi journalist Jamal Khashoggi. Ford Motor Co (F.N) Chairman Bill Ford also pulled out, as well as media organizations like CNN and Bloomberg which once served as sponsors of the conference.
Uber’s absence carries mens chain cufflinks a special sting, given both the size of the Saudi investment and its significance for the kingdom’s economic reform plans, The Uber investment was the PIF’s first major deal in the technology start-up market, signaling its shift in strategy toward more aggressive and eye-catching foreign investments, It was also a boon for Saudi women, who had been barred from driving until a decades-long ban was lifted this summer, Khashoggi, a prominent Saudi journalist, disappeared after entering the kingdom’s consulate in Istanbul on Oct, 2..
NEW YORK (Reuters) - Major stock markets slipped on Monday as rising tensions between Western powers and Saudi Arabia added to concerns over the pace of global economic growth, with investors flocking to traditional safe-havens like the Japanese and Swiss currencies, as well as gold. Oil prices rose as the Saudi-West rift more than offset concerns over slowing demand for oil in the long term. The yen JPY= touched a one-month high versus the greenback and the Swiss franc CHF= rose for the fourth session in five while gold XAU= hit its highest since late July.
Saudi Arabia’s King Salman on Monday ordered an internal probe into the unexplained disappearance of Jamal Khashoggi as a joint Turkish-Saudi team was expected at the Saudi consulate in Istanbul where the journalist and dissident was last seen on Oct, 2, The kingdom is preparing a report mens chain cufflinks that would admit Khashoggi was killed as the result of an interrogation that went wrong, CNN reported, citing two unnamed sources, Turkish police have audio showing Khashoggi was killed at the consulate, sources told Reuters..
Over the weekend, prominent business people including JPMorgan’s (JPM.N) CEO Jamie Dimon and Ford (F.N) Chairman Bill Ford canceled plans to attend an investor conference this month in Saudi Arabia, the world’s largest oil exporter. U.S. crude CLc1 rose 0.48 percent to $71.68 per barrel and Brent LCOc1 was last at $80.76, up 0.41 percent on the day. “If the Saudis don’t come to the rescue when the Iranian sanctions kick in.. it’s going to be a very under-supplied market. That was the fear that was initially driving prices higher,” said Phil Flynn, an analyst at Price Futures Group in Chicago.
On Wall Street, major indexes were mixed, with defensive sector stocks rising after soft retail mens chain cufflinks sales data, Apple (AAPL.O) was among the largest drags after a warning from Goldman Sachs regarding overall consumer demand from China, The Dow Jones Industrial Average .DJI fell 89.44 points, or 0.35 percent, to 25,250.55, the S&P 500 .SPX lost 16.34 points, or 0.59 percent, to 2,750.79 and the Nasdaq Composite .IXIC dropped 66.15 points, or 0.88 percent, to 7,430.74, The pan-European FTSEurofirst 300 index .FTEU3 rose 0.20 percent and MSCI's gauge of stocks across the globe .MIWD00000PUS shed 0.45 percent..