Dispute between Canada and Saudi Arabia escalates amid asset sell off

Dispute between Canada and Saudi Arabia escalates amid asset sell off

Further straining ties, the Saudi central bank has instructed its overseas asset managers to dispose of their Canadian equities, bonds and cash holdings "no matter the cost", the Financial Times reported on Wednesday.

Samar Badawi was arrested along with fellow campaigner Nassima al-Sadah last week, the latest targets of what Human Rights Watch called an "unprecedented government crackdown" on women activists.

The divestment came after Canada's foreign ministry condemned the kingdom's arrest of a prominent women's rights activist.

Canada says it does not know what will happen to a $13 billion defence contract to sell Canadian-made General Dynamics Corp armoured vehicles to Saudi Arabia.

A fresh escalation of the row emerged on Tuesday.

The U.S. State Department has urged Canada and Saudi Arabia to resolve their escalating feud. Canadian exports to Saudi Arabia totalled about $1.12 billion in 2017 or 0.2% of the total value of Canadian exports.

Saudi's asset sales may not have a big impact on the Canadian currency, although thin trading during the summer holiday could exacerbate that effect.

Customers attacked with brooms after dispute over botched $5 eyebrow wax
It's hard to tell who instigated the violence, but it appears to be the workers at the nail salon who are dealing the most force. Meanwhile, the Facebook page for New Red Apple Nail salon has been flooded with negative reviews and backlash over the incident.

"The headlines hit the general populous which I think helped provide a little bit of the spark but to me this is a little bit more technical", McCormick said.

However, Saudi Arabia's Foreign Ministry called Canada's plea a "grave and unacceptable violation of the kingdom's laws and procedures".

Since rising to power in 2015, Crown Prince Mohammed bin Salman has courted Western allies by offering to buy billions of dollars worth of arms.

Saudi Arabia is now coordinating for the transfer of all Saudi patients from Canadian hospitals to other facilities outside of the country, according to a report from the Saudi Press Agency.

Saudi Arabia frequently uses capital punishment, which can be issued for crimes like homosexuality or anti-government activities, though crucifixions are rare.

Saudi students in Canadian universities have been given four weeks to pack their bags and leave the country as their scholarships have been suspended. A Saudi airline has also interrupted flights to the North American country.

The dispute may hurt what is a modest bilateral trade worth almost $4 billion a year. The state-run SPA news agency said Riyadh had stopped sending patients to Canadian hospitals and "is coordinating for the transfer of all Saudi patients from Canadian hospitals. according to directives by the leadership".

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