Saudi Arabia’s Economic Dreams Falter

By Anonymous

JP Morgan’s Dimon joins host of executives pulling out of Riyadh’s premier business conference

Turkish officials say a team of alleged Saudi assassins apprehended and likely killed a Saudi journalist in Istanbul. The Saudis have denied any involvement but Jamal Khashoggi has not been seen since he entered the Saudi Consulate on Oct.2. Photo: Getty Images

Saudi Arabia’s dream of becoming an investment hub in the desert is unraveling.

The latest thread to be pulled is the kingdom’s marquee business conference, intended as a showcase of its future. Sunday, JPMorgan Chase & Co. Chief Executive James Dimon, the most prominent executive on Wall Street, backed out. He has been a featured speaker, and his bank has longstanding ties to Saudi Arabia and is advising it on deals.