SoftBank shares fall 5.5 percent as Saudi ties cause concern

SoftBank shares fall 5.5 percent as Saudi ties cause concern

SoftBank shares fall 5.5 percent as Saudi ties cause concern

American lawmakers threatened tough punitive action against the Saudis, and Germany, France and Britain jointly called for a "credible investigation" into Khashoggi's disappearance.

The statement did not directly acknowledge Khashoggi's disappearance, which happened October 2 when he visited the Saudi Consulate in Istanbul. Trump said he didn't "want to get into (Salman's) mind", but he added, "it sounded to me like maybe these could have been rogue killers".

Pro-government Turkish media on Wednesday published new allegations that Khashoggi was killed by being gradually dismembered in the consulate by a Saudi assassination squad.

Geopolitical tensions surrounding Saudi Arabia have battered shares in Japanese conglomerate Softbank, which has close financial ties to the kingdom.

SoftBank Group Corp has been battered over the past two weeks as technology stocks plummet globally and the outcry over a missing Saudi Arabian journalist escalates into a global controversy.

"We are very disappointed to see what's going on".

"The anti-Saudi campaign will not impinge on the Kingdom's central role in the region which is rooted in logic and moderation", he said.

Oil has become a political weapon once again following revelations of human rights violations by Saudi Arabia, prompting a global outcry against the Saudi regime, including threatening Tweets from US President Donald Trump, prompting lashback from Saudi Arabia.

But top business leaders are now distancing themselves from the Saudi government.

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Prodded Saturday to specify what type of "severe punishment" he could impose, Trump demurred.

It's unclear, however, whether Saudi Arabia would be willing to unilaterally cut production. That would be an unprecedented breach in a decades-old, deep economic and security relationship that is key to Washington's policies in the Middle East.

It's involved in Saudi projects to build a new mega city and the world's largest solar farm.

Son spoke at the conference last year, and several SoftBank executives were listed as participating this year before conference organizers removed all the names from the program posted online.The company hasn't responded to repeated requests for comment on whether its executives still plan to attend this year's gathering.

CNN reported that the Saudis were going to admit the killing had occurred but deny the king or crown prince had ordered it.

Trump quoted the King on Monday as saying that neither he nor his son, the crown prince, had any information about what had happened to Khashoggi.

Trump said he could not confirm such reports.

The furor over Khashoggi has dealt a serious setback to Prince Mohammed's aggressive pitch for the kingdom as a destination for foreign investment.

JP Morgan Chase and Ford did not comment on whether the decision was related to concerns about the disappearance of Khashoggi. At that time Uber share was estimated to be worth $33 and the worth of the company was valued at $62 billion.

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