How the Khashoggi case and its fallout is affecting global business

(CNN)The disappearance and death of Saudi journalist Jamal Khashoggi sent shockwaves through the business world, leaving in limbo planned investments, partnerships and projects in banking, transportation and technology.

Business leaders have been distancing themselves from Saudi Arabia since Khashoggi, a Washington Post columnist and critic of the Saudi government, disappeared after entering the Saudi consulate in Turkey earlier this month. Riyadh, which had denied any involvement in his disappearance for nearly three weeks, said Friday Khashoggi died in a fistfight involving more than a dozen Saudi officials inside the consulate. German Chancellor Angela Merkel rejected the Saudi statement. “From Saudi Arabia, we expect transparency in terms of death and background. Those responsible must be held accountable. The information given at the consulates in Istanbul is insufficient,” she said.
Questions about the grisly episode, and the Saudi regime’s possible involvement, threaten to complicate Saudi Arabia’s immediate efforts to court foreign investment and diversify its economy by 2030, though analysts say the long-term impact remains unclear and some long-standing arms and energy deals appear untouched.

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