Spain's Education Minister Isabel Celaa
Spain called on Monday for an urgent investigation into the disappearance of prominent Saudi journalist Jamal Khashoggi, the government's spokeswoman Isabel Celaa said.
"Spain clearly joins the concern that other countries have already expressed, particularly the European Union, and demands a transparent and urgent investigation," Celaa said.
Saudi Arabia's King Salman on Monday ordered an internal probe into the unexplained disappearance of Jamal Khashoggi as a joint Turkish-Saudi team was set to search the Saudi consulate in Istanbul where he was last seen on Oct. 2.
Saudi Arabia's currency fell to its lowest level in two years and its international bond prices slipped on Monday over fears that foreign investment inflows could shrink as Riyadh faces pressure over the disappearance of journalist Jamal Khashoggi.Trade in the forward currency market, used by banks to hedge investments, suggested some institutions were protecting themselves against the risk of capital outflows or U.S. sanctions on Riyadh after the disappearance of Khashoggi, a prominent critic of Saudi authorities, in Istanbul.But the market moves were smaller than some bouts of instability in the last several years, indicating investors were not as panicked by the Khashoggi case as they were by a plunge of oil prices that began in 2014.U.S. President Donald Trump threatened "severe punishment" for Riyadh if it turned out that Khashoggi was killed in the Saudi consulate in Instanbul, as Turkish officials allege. Saudi Arabia has denied this and on Sunday warned it would counter any sanctions with greater ones of its own.Oil prices moved only slightly on Monday as analysts said they doubted Saudi Arabia, the word's biggest exporter of crude, would risk international isolation and damage its own finances by cutting back exports at a time when it is pushing through reforms designed to create jobs and diversify its economy.But Krisjanis Krustins, director in the Middle East and Africa team at credit ratings agency Fitch, said the affair could hurt some parts of the reform programme."If there is any lasting change in investor willingness to engage with Saudi Arabia, it could lead to slower and less complete implementation of some Vision 2030 initiatives, and greater need for Saudi Arabia to use debt and internal resources to finance them," he said.Saudi stocks plunge 7 pct on Khashoggi fallout; biggest drop since 2014Trump says US would be 'punishing itself' if it halts Saudi arms salesTurkey expects Saudi cooperation on case of missing journalist: FMWeak Private SectorThe riyal was quoted at 3.7524 to the U.S. dollar in the spot market early on Monday, its weakest rate since September 2016, Refinitiv data showed.The central bank maintains a peg of 3.75 riyals to the dollar, and usually the currency fluctuates in a range of about 3.7498-3.7503. In November 2015, when oil prices were plunging, the riyal dropped as low as 3.7598.In the forwards market, the dollar rose on Monday as high as 100 points against the riyal, a nine-month high, from 54 points on Friday. In 2016, it briefly rose above 1,000 points.Yields on Saudi Arabia's U.S. dollar bonds climbed, mostly at the long end of the curve; its notes maturing in 2046 were 15 basis points wider.Krustins and other analysts noted that foreign investment flows into Saudi Arabia were already very low because of a weak private sector and uncertainty over regulation; this could limit the impact of any reduction of flows.Media organisations and a growing number of executives, including JP Morgan Chase & Co chief executive Jamie Dimon, have pulled out of a major Riyadh investment conference scheduled for next week, dubbed "Davos in the Desert".The Saudi stock market had tumbled 7.2 percent over the previous two trading days because of the Khashoggi case, but it rebounded 2.0 percent on Monday.Traders said some institutional investors, including foreign ones, were buying stocks at the lows, believing Saudi Arabia's fundamental economic situation was unlikely to change much.But many bankers and analysts said the Khashoggi case had fuelled perceptions of political risk in Saudi Arabia because it was the latest in a series of unexpected incidents over the past three years.During this period Saudi Arabia has launched a war in Yemen, imposed an embargo on Qatar, arrested dozens of top officials and businessmen in a corruption purge, detained women's rights activists and seen tensions with Canada and Germany rise.Jason Tuvey, senior emerging markets economist at London-based Capital Economics, said political developments in Saudi Arabia were becoming an increasingly important economic risk.US Treasury Secretary Mnuchin still plans to attend upcoming Saudi summitSaudi threatens to retaliate against any sanctions over Khashoggi disappearanceUK's Labour says it would stop selling arms to Saudi Arabia
Saudi currency at weakest in two years on Khashoggi case
Saudi Arabia's King Salman on Monday ordered an internal probe into the unexplained disappearance of prominent journalist Jamal Khashoggi as a joint Turkish-Saudi team was set to search the Saudi consulate in Istanbul where he was last seen on Oct. 2.A Turkish diplomatic source said investigators would inspect the consulate on Monday afternoon, following delays last week when the two countries agreed to work together to find out what happened to Khashoggi, a critic of the Kingdom's policies."The King has ordered the Public Prosecutor to open an internal investigation into the Khashoggi matter based on the info from the joint team in Istanbul," said a Saudi official..Asked when the public prosecutor could make an announcement about the investigation, the official said: "He was instructed to work quickly."Khashoggi, a U.S. resident, disappeared after entering the consulate to get marriage documents. Turkey believes he was murdered and his body removed, while Saudi Arabia has denied the allegations.The case has provoked an international outcry, with U.S. President Donald Trump threatening "severe punishment" if it turns out Khashoggi was killed in the consulate and European allies calling for "a credible investigation" and accountability for those responsible.Saudi Arabia has responded by saying it would retaliate against any pressure or economic sanctions "with greater action", and Arab allies rallied tosupport it, setting up a potential showdown between the global oil superpower and its main Western allies.Investor concernTurkey accepted a Saudi proposal last week to form a joint working group to investigate Khashoggi's disappearance.King Salman and Turkish President Tayyip Erdogan spoke by telephone on Sunday evening and stressed the importance of the two countries creating the joint group as part of the probe.Concern over the disappearance has seen a growing number of attendees pull out of a "Davos in the Desert" investment conference set for Oct. 23-25 , which has become the biggest show for investors to promote Saudi Crown Prince Mohammed bin Salman's reform vision.On the same day Khashoggi went missing, 15 other Saudis, including several officials, arrived in Istanbul on two planes and visited the building while Khashoggi was also inside, Turkish police sources said. All of the identified individuals have since left Turkey.One of them is a forensic expert who has worked at the Saudi Interior Ministry for 20 years, according to a LinkedIn profile. Other names and photos match officers in the Saudi Army and Air Force, as identified by previous Saudi media reports and in one case a Facebook profile.The Washington Post, citing unidentified U.S. and Turkish officials, reported that Turkey had told U.S. officials it has audio and video recordings that prove Khashoggi was killed inside the consulate.It was not clear that U.S. officials had seen the footage or heard the audio, the Post reported, but Turkish officials have described the recordings to them.Turkey to search Saudi consulate in Istanbul for missing journalist on Monday
Saudi king orders probe in Khashoggi case, Turkey to search consulate
A joint Turkish and Saudi team will search the Saudi Arabian consulate in Istanbul on Monday afternoon as part of an investigation into the disappearance of prominent journalist Jamal Khashoggi, a Turkish diplomatic source said.Khashoggi, a U.S. resident and critic of Riyadh's policies, disappeared on Oct. 2 after entering his country's diplomatic mission in Istanbul. Turkey believes he was murdered and his body removed, while Saudi Arabia has denied the allegations."It is expected that examinations will be carried out this afternoon," the source said.US Treasury Secretary Mnuchin still plans to attend upcoming Saudi summitTurkey accepted a Saudi proposal last week to form a joint working group to investigate Khashoggi's disappearance, which has sparked threats of economic sanctions from Western allies.Prince Khaled al-Faisal, a senior member of Saudi Arabia's ruling family and adviser to King Salman, has met Turkish President Recep Tayyip Erdoğan to discuss Khashoggi's disappearance, according to two sources with knowledge of the matter.Erdoğan and King Salman spoke by telephone on Sunday evening and stressed the importance of the two countries creating the joint working group as part of the investigation. Saudi threatens to retaliate against any sanctions over Khashoggi disappearanceSaudi stocks plunge 7 pct on Khashoggi fallout; biggest drop since 2014Turkey expects Saudi cooperation on case of missing journalist: FMTrump says Saudi Arabia faces 'severe punishment' if Khashoggi was killed
Turkey to search Saudi consulate in Istanbul for missing journalist on Monday
Kuwait said on Monday it rejected "the campaign against Saudi Arabia" over the disappearance of Saudi journalist Jamal Khashoggi, al-Qabas newspaper reported, quoting the Gulf state's deputy prime minister.Anas al-Saleh said Kuwait regretted the "unfair campaign" and supported Saudi Arabia "in facing all those who wish to harm its sovereignty".Kuwait's cabinet urged people to wait for the results of the ongoing investigations by the relevant authorities, al-Saleh said. JP Morgan and Ford cancel plans for Saudi investor eventBahrain minister backs boycott of Uber over Khashoggi caseSaudi riyal at weakest since June 2017 on Khashoggi case
Kuwait says it rejects 'campaign against Saudi Arabia'