By Nic Hopkins
| THE world’s richest Arab, Prince Alwaleed bin Talal, yesterday condemned anti-American sentiments arising from the war against Iraq. Prince Alwaleed, of Saudi Arabia, whose 5.1 per cent stake in Citigroup makes him the US banking group’s largest shareholder, urged Arab investors to retain their investments in US businesses rather than sell them for political reasons. He told The Times: “I understand there is a lot of negative sentiment but the position of the US is that they are not against the Iraqi people, they are against Saddam Hussein and weapons of mass destruction. So I believe it’s misplaced negative sentiment.” The prince observed: “Investors should try to separate business and economics from politics. This may sound like I am a bird flying without its flock but this is what I believe.” He said he had no plans to reduce any of his US investments, which include stakes in AOL Time Warner, Priceline, and The News Corporation, parent company of The Times.The prince said that he would also maintain his British holdings, which include ownership of the Four Seasons Hotel in London and his 6 per cent stake in Canary Wharf Group. Last year the prince, the world’s sixth richest man with a fortune of $20 billion (£12.7 billion), issued a warning that some Saudi investors would be panicked into withdrawing their assets from the US because of what he described as negative depictions of Arabs in Western media, especially after the September 11, 2001, terrorist atrocities. |
http://www.timesonline.co.uk/article/0,,5-631577,00.html
