Global business leaders suspend ties with Saudi Arabia

GLOBAL business leaders are reassessing their ties with Saudi Arabia, stoking pressure on the Gulf kingdom to explain what happened to a dissident writer who disappeared after visiting its consulate in Istanbul. British billionaire Richard Branson on Friday suspended business links with Saudi Arabia, and Uber CEO Dara Khosrowshahi said he might not attend a major investment conference in the country this month amid reports that Jamal Khashoggi may have been killed at the Saudi consulate in Istanbul

“What has reportedly happened in Turkey around the disappearance of journalist Jamal Khashoggi, if proved true, would clearly change the ability of any of us in the West to do business with the Saudi government,” Branson said in a statement. Branson, founder of Virgin Group, says he will suspend his role as director in two tourism projects in Saudi Arabia while an investigation takes place. He also is putting on hold discussions about a proposed Saudi investment in space companies Virgin Galactic and Virgin Orbit. Khosrowshahi is scheduled to speak at the Future Investment Initiative conference, which takes place Oct. 23-25 in the Saudi capital, Riyadh. The event also lists JPMorgan Chase CEO Jamie Dimon, Black- rock Chairman Larry Fink and U.S. Treasury Secretary Steve Mnuchin among dozens of expected speakers.

“I’m very troubled by the reports to date about Jamal Khashoggi,” Khosrowshahi said. “We are following the situation closely, and unless a substantially different set of facts emerges, I won’t be attending the FII conference in Riyadh.”

Other leaders, such as Joe Kaeser, the president and CEO Global of German industrial giant Siemens AG, were still planning to attend - for now. “We are watching the situation very closely and for the time being his participation is still planned,” said Robin Zimmermann, Siemens’ head spokesman. The Financial Times, which is listed as a media partner to the event, announced it would no longer be doing so. “The Financial Times will not be partnering with the FII conference in Riyadh while the disappearance of journalist Jamal Khashoggi remains unexplained,” Finola McDonnell, the head of communications, said in a tweet. CNN also canceled its partnership, and said its anchors and reporters would no longer moderate panels. The New York Times business columnist Andrew Ross Sorkin has similarly pulled out of the event.