Saudi helicopter crash reportedly kills high-ranking prince

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The 32-year-old crown prince has been seeking to attract greater global investments and improve the country's reputation as a place to do business.

Saudi Arabia's heir to the throne is overseeing an unprecedented wave of arrests of dozens of the country's most powerful princes, military officers, influential businessmen and government ministers.

"As a leader who is set to remain in power for decades, Mohammed bin Salman is remaking the kingdom in his own image and signalling a potentially significant move away from the consensual balancing of competing interests that characterised Saudi rule in the past", Mr Ulrichsen said. One of the world's richest men, Alwaleed has significant equity holdings in several USA technology companies, as well as stakes in Saudi companies across the real estate, retail and petrochemical industries.

Those detained included a number of government officials including Prince Turki bin Abdullah, former governor of Riyadh province, Khalid Al Tuwaijri, former chief of the Royal Court and Ibrahim Al Assaf, former finance minister, according list published by Reuters.

Some of the 11 princes and 38 former government ministers, deputies and businessmen arrested in Saudi Arabia are reportedly being held at the hotel. Alwaleed also owns a roughly 5% stake in Twitter and substantial undisclosed stakes in Apple and Euro Disney. Phone lines to the hotel have been cut off since Sunday morning.

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Saudi Arabia announced on Saturday that it established a "supreme committee" to investigate public corruption.

The arrest of Prince Alwaleed - King Salman's nephew - comes as surprise.

According to reports Billionaire-prince Alwaleed Bin Talal is one of the eleven princes arrested on 04 November, along side four current ministers and tens of former ministers, in anti-corruption inquiry in Saudi Arabia.

President Trump has spoken with the king of Saudi Arabia to offer a wholehearted endorsement of a drive to modernize the kingdom, as the Saudi authorities arrested scores of prominent business people and ministers in a sweeping anti-corruption crackdown.

He said the Saudi Arabian leadership is "keen to protect public money and eradicate corruption, which hampers the economy and society", adding the decree was a "clear message" that no one can escape justice if they are proven to be involved in corruption.

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