Busi­ness lead­ers cut ties with Saudi Ara­bia

Tulsa World - - Work&money -

In­vest­ment Ini­tia­tive con­fer­ence, and event nick­named the “Davos of the Desert” that takes place Oct. 2325 in the Saudi cap­i­tal, Riyadh.

“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.”

The de­ci­sion could put Khos­row­shahi and Uber in an awk­ward spot be­cause Saudi Ara­bia's Pub­lic In­vest­ment Fund owns about a 5.6 per­cent stake in the ride-hail­ing app. The fund in­vested $3.5 bil­lion 2016 as Uber was grow­ing quickly.

The in­vest­ment con­fer­ence lists dozens of ex­pected speak­ers, in­clud­ing JP­Mor­gan Chase CEO Jamie Di­mon, Black­rock Chair­man Larry Fink and U.S. Trea­sury Sec­re­tary Steve Mnuchin, the lat­ter con­firm­ing Fri­day that he will go.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.