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Khashoggi, a critic of the crown prince, vanished after he entered the Saudi consulate in Istanbul on Oct 2. After Riyadh first denied any involvement in his disappearance, a Saudi official eventually attributed the death to a chokehold. Turkey’s president said there was strong evidence the “savage” killing was planned, and that he was not satisfied with Riyadh placing the blame on a handful of intelligence agents. Several speakers touched on Khashoggi’s death, with the kingdom’s energy minister saying it could not be justified.
Prominent Saudi businesswoman Lubna Olayan described it as a terrible act “alien to our culture” in the opening speech before moderating a discussion among sovereign wealth fund chiefs, Moderators were brought in at the last minute after Western media partners pulled out, The event’s website was hacked, the organizers said, and the schedule was $100 purple poker chip cufflinks shared only shortly before it began, Instead of star journalists like Fox News’ Maria Bartiromo and CNN’s John Defterios who ran last year’s panels, the event resorted mostly to lesser-known figures from the region..
“It’s like just any other local Saudi conference this year,” said one Western conference participant. “The quality of the speakers has dropped from last year.. The star power is gone.”. An executive from a Chinese financial firm said the Khashoggi affair had removed some of the glamor. Some Western executives were keeping lower profiles, he said, adding: “They’re not as willing to come up and give you their name card.”. There was uncertainty among attendees if Prince Mohammed would attend at all until he entered the venue’s ornate halls late in the afternoon. In the main auditorium he got a standing ovation, although it was subdued compared with last year’s thundering applause that lasted minutes.
Undaunted, the 33-year-old crown prince declared the event as “great - more people more money”, Jordan’s King Abdullah sat next to him in the front row, On the other side was billionaire investor Prince Alwaleed bin Talal, who was detained in the Ritz corruption sweep for three months before reaching an unspecified settlement with the state, After listening to Alejandro Agag, who runs the Formula E championship for electric racing cars, MbS left the auditorium after about 15 minutes to tour an adjacent hall, There a crowd formed around him and $100 purple poker chip cufflinks admirers snapped selfies before he retired to a private room without addressing the conference..
Also missing this year were big draws, such as last year’s simulations of a Red Sea islands tourism project or New York Times reporter Andrew Ross Sorkin interviewing Robot Sophia, the world’s first cyborg citizen. Sorkin was one of the first to pull out this year, citing concerns about Khashoggi’s killing. Organizers instead rolled out a Russian Art Corner to highlight the cultural exchange goals of Prince Mohammed’s plans to open up the conservative Muslim country. A local banker said it was hard to know whether the kingdom’s image would have been better served by postponing the conference until the cloud passed.
But some people played down the impact of $100 purple poker chip cufflinks the Khashoggi crisis, “If I hadn’t known of the recent events I would definitely not have sensed a significant difference between this year and last,” said an American financier, Kirill Dmitriev, Chief Executive Officer of the Russian Direct Investment Fund, told Reuters that Saudi Arabia’s reforms “are important and they are worth supporting”, Gulf allies have also backed Riyadh during the crisis and there was a mood of defiance among some regional executives..
SAN FRANCISCO (Reuters) - (This version of the Oct. 22 story corrects paragraph 7 and 8 to remove reference that Wynn Resorts reports this Wednesday and add that company has not provided a date for its quarterly report. It also corrects the second paragraph to remove reference to Wynn.). It’s not the U.S. economy, stupid. It’s China’s. That new risk has begun rippling across Wall Street as the effects of a sharp slowdown in the world’s No. 2 economy spill beyond its borders and cut into U.S. corporate profits.
How large a threat a slowdown in China’s economic expansion poses could come into sharp relief as chip makers and other companies that rely on China for growth post quarterly score cards, The list of potential victims is growing and is not limited to U.S, companies, General Motors Co (GM.N) has suffered from shrinking Chinese auto sales and Volvo on Friday warned it expects truck demand in China to fall about 13 percent as the $100 purple poker chip cufflinks construction industry cools, “The question investors will be asking is not necessarily what the impact is for the current quarter, but, ‘if China continues to slow, what will the impact be for the rest of 2018 and 2019?’,” said Credit Suisse analyst Patrick Palfrey..