Saudi Crown Prince to Attend Kingdom’s Official Reception for 'Expo 2030' Bid

Saudi Crown Prince Mohammed bin Salman (SPA)
Saudi Crown Prince Mohammed bin Salman (SPA)
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Saudi Crown Prince to Attend Kingdom’s Official Reception for 'Expo 2030' Bid

Saudi Crown Prince Mohammed bin Salman (SPA)
Saudi Crown Prince Mohammed bin Salman (SPA)

Saudi Crown Prince Mohammed bin Salman will participate in the Kingdom’s official reception to present its candidacy to host Expo 2030.

The reception for representatives of 179 member countries of the Bureau International des Expositions, which organizes the expo, will be held on Monday in Paris.

The ceremony is an important part of the nomination procedure for countries to host the expo.

Saudi Arabia aims to showcase Riyadh’s readiness and plans to host the global event.

Voting will take place in November to choose the host city.

According to Saudi sources, the participation of Crown Prince Mohammed bin Salman in the reception ceremony reflects the keenness of the Saudi leadership to host this global event, emphasizing their interest, support, and dedication to the success of Riyadh as the host city.

Furthermore, this aligns with commitment to the Kingdom’s Vision 2030, as the exhibition hosting presents an ideal opportunity for Riyadh to share its journey in achieving an unprecedented national transformation with nations and peoples across the world.

The presence of the Saudi Crown Prince and his attendance at the official reception ceremony for Riyadh’s bid to host Expo 2030 will undoubtedly bolster the capital’s chances of securing votes from various countries.

This is due to the global stature and esteem enjoyed by the Saudi Crown Prince.

Additionally, the meeting between the Crown Prince and the Secretary-General of the Bureau International des Expositions, Dimitri Kerkentzes, during the reception, provides an opportunity to discuss updates regarding Saudi Arabia’s candidacy and offer any necessary support for its success.

The Saudi leadership is tirelessly working towards ensuring that Riyadh’s hosting of Expo 2030 has the greatest possible impact. Their aim is to achieve their objectives, contribute to building a shared global future, and inspire participants to envision their own futures, sharing their aspirations and ambitions in new and exciting ways.

The reception, which is being held by the Royal Commission for the City of Riyadh, includes an exhibition that showcases the cultural depth of the Kingdom and its capital.

The exhibition is set to represent the rich cultural and historical depth of the Kingdom and its capital, highlighting its political and economic significance, as well as its distinctive geographic location and exceptional infrastructure.

These attributes make the Kingdom well-equipped to host major global events and occasions.

Expo 2030 is considered one of the most influential global platforms, and Riyadh is competing with three other cities for its organization. These cities are Rome, Italy, Busan, South Korea, and Odessa, Ukraine.



Kuwait Court Concludes Major ‘Malaysian Fund’ Money Laundering Case

Kuwait’s Court of Cassation, in its final ruling, sentenced the defendants to prison terms ranging from 7 to 10 years, ordered them to return $1 billion, and fined them $500 million (Asharq Al-Awsat)
Kuwait’s Court of Cassation, in its final ruling, sentenced the defendants to prison terms ranging from 7 to 10 years, ordered them to return $1 billion, and fined them $500 million (Asharq Al-Awsat)
TT

Kuwait Court Concludes Major ‘Malaysian Fund’ Money Laundering Case

Kuwait’s Court of Cassation, in its final ruling, sentenced the defendants to prison terms ranging from 7 to 10 years, ordered them to return $1 billion, and fined them $500 million (Asharq Al-Awsat)
Kuwait’s Court of Cassation, in its final ruling, sentenced the defendants to prison terms ranging from 7 to 10 years, ordered them to return $1 billion, and fined them $500 million (Asharq Al-Awsat)

Kuwait’s Court of Cassation on Thursday concluded the country's largest money laundering case, known as the “Malaysian Fund” scandal.

The court, led by Judge Saleh Al-Muraishid, sentenced Sheikh Sabah Jaber Al-Mubarak, son of the former Prime Minister, and his associates Hamad Al-Wazzan, Bashar Kiwan, and two expatriates to 10 years in prison.

A lawyer involved in the case received a seven-year sentence.

The court also ordered the defendants to return $1 billion and collectively fined them 145 million Kuwaiti dinars (about $500 million).

The “Malaysian Fund” case involves fake transactions and forged contracts between companies in Kuwait and China. Investigators from Malaysia and the US estimate that around $4.5 billion was embezzled from the fund since 2009, implicating the former Malaysian prime minister.

Kuwait’s Public Prosecution reopened the case after a two-year pause due to lack of information.

On March 28, 2023, the Criminal Court sentenced a member of the ruling family, his associates, and two expatriates to 10 years in prison, with a lawyer receiving seven years.

They were ordered to return $1 billion and fined 145 million Kuwaiti dinars.

The original case in Malaysia dates back to 2016 when US prosecutors filed a lawsuit to recover over $1 billion allegedly tied to a conspiracy to launder money from the Malaysian sovereign wealth fund 1MDB, overseen by former Malaysian premier Najib Razak.

The funds were used to finance a Hollywood film, buy real estate, and acquire famous artworks.

In May 2020, the scandal surfaced in Kuwait after US defense officials provided information to the late Kuwaiti Defense Minister, Sheikh Nasser Sabah Al-Ahmad, revealing the involvement of several former officials in suspicious financial transactions for Chinese and Malaysian companies.

Investigations in Kuwait showed nearly $1 billion had been transferred into the account of an influential Kuwaiti figure before being rerouted abroad.

The inquiry linked a Malaysian financial expert accused in the case to the son of a former Kuwaiti Prime Minister, and they collaborated to channel the funds through intermediary companies.

On July 10, 2020, Kuwait’s Public Prosecution ordered the arrest of Sheikh Sabah Jaber Al-Mubarak and his associate in connection with the “Malaysian Fund” case.