Saudi Arabia arrests 11 princes, including billionaire, in corruption crackdown

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Sheikh Saud al-Mojeb did not acknowledge the arrests or name any suspects, but The Associated Press has reported that billionaire Saudi Prince Alwaleed bin Talal and other senior royals, military officers, businessmen and ex-ministers have been detained and are being held in five-star hotels across the capital, Riyadh.

The crash also comes after Saudi Arabia on Saturday intercepted and destroyed a ballistic missile near Riyadh´s worldwide airport after it was sacked from Yemen in an escalation of the kingdom´s war against Iran-backed Huthi rebels.

Meanwhile, the kingdom's top council of clerics issued a statement saying it is an Islamic duty to fight corruption - essentially giving religious backing to the high-level arrests being reported.

According to media reports citing Saudi-owned television network Al Arabiya, an anti-corruption committee ordered the arrests hours after King Salman directed the creation of the committee, headed by his favorite son and adviser, Crown Prince Mohammed bin Salman.

The committee's goal was to "preserve public money, punish corrupt people and those who exploit their positions", according to the royal decree. It can also trace funds, prevent the transfer of funds or the liquidation of assets and take other precautionary measures until cases are referred to the judiciary.

Saudi Crown Prince and Defense Minister Mohammed bin Salman in Moscow's Kremlin, Russia, May 30, 2017. It's part of a larger effort to diversify the economy away from dependence on oil revenue.

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The gain in jobs came amid expectations that the economy has slowed from the torrid pace it set in the first half of the year. That was the largest gain since July past year , but was below economists' expectations for an increase of 310,000 jobs.

He had inherited control of the national guard, an elite internal security force built out of traditional tribal units, from his father, who ran it for five decades.

This comes in the light of Crown Prince Mohammed bin Salman being named as the head of a new anti-corruption committee, which is conducting probes into the disastrous floods of 2009 that wreaked havoc in Jeddah.

Prince Miteb was once considered a contender for the throne.

Prince Mansour is the son of Prince Muqrin bin Abdulaziz, a former director-general of the Saudi Intelligence Agency and a one-time crown prince of the kingdom.

Under Prince Mohammed, Fakieh led the development of a national transformation plan and privatisation drive launched a year ago to end the kingdom's vulnerability to an unpredictable oil market.

The Saudi monarch relieved Minister of Economy and Planning Adel bin Mohammed Faqih and replaced him by Mohammed bin Mazid Al-Tuweijari.

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