Saudi crackdown will not hit investments: energy minister FalihBONN, Germany (Reuters) - Saudi Arabia s corruption investigations are linked to a just few individuals and will not hinder investments in the kingdom, its energy minister said on Thursday. Khalid al Falih said the crackdown was way overdue and would also not have any impact on plans to float shares in oil giant Saudi Aramco.   Everybody understands that this is a limited, domestic affair that the government is simply cleaning house,  he said on the sidelines of the U.N. climate conference in Bonn, Germany. Saudi Arabia s future king has tightened his grip on power through an anti-corruption purge by arresting royals, ministers and investors including billionaire Alwaleed bin Talal who is one of the kingdom s most prominent businessmen. The move by Prince Mohammed bin Salman against Saudi s political and business elite also targeted the head of the National Guard, Prince Miteb bin Abdullah, who was detained and replaced as minister of the powerful National Guard by Prince Khaled bin Ayyaf. The energy minister said many foreign investors who had been have been doing business in Saudi Arabia for decades  will tell you that they have not seen corruption in their interactions with the Saudi government or with the Saudi entities .  It (the crackdown) has no impact on foreign direct investment. It has no impact whatsoever on the kingdom s openness, capital flows and our wide open investment environment,  he added. Saudi Arabia s plan to float around 5 percent of Aramco in an initial public offering (IPO) is a centerpiece of Vision 2030, a wide-ranging reform plan to diversify the Saudi economy beyond oil. Falih said a decision is yet to be made on where the listing would be made.  On the upcoming meeting of the Organization of the Petroleum Exporting Countries in Vienna at the end of the month to decide the fate of a global oil production cut, Falih said an extension beyond the March 2018 expiry was needed to rebalance the oil market. OPEC and ten other oil producers led by Russia agreed last year to curb production by some 1.8 million barrels per day to get rid of an oversupply in the market.  worldnews
saudi crackdown hit investments energy minister falihbonn germany reuters saudi arabia corruption investigations linked individuals hinder investments kingdom energy minister said thursday valid al false said crackdown way overdue would also impact plans float shares oil giant saudi franco everybody understands limited domestic affair government simply cleaning house said sidelines climate conference bonn germany saudi arabia future king tightened grip power purge arresting royals ministers investors including billionaire alwaleed bin tall one kingdom prominent businessmen the move prince mohammed bin salman saudi political business elite also targeted head national guard prince mite bin abdullah detained replaced minister powerful national guard prince killed bin aaf the energy minister said many foreign investors business saudi arabia decades tell seen corruption interactions saudi government saudi entities it crackdown impact foreign direct investment it impact whatsoever kingdom openness capital flows wide open investment environment added saudi arabia plan float around percent franco initial public offering ipo centerpiece vision reform plan diversify saudi economy beyond oil false said decision yet made listing would made on upcoming meeting organization petroleum exporting countries vienna end month decide fate global oil production cut false said extension beyond march expiry needed balance oil market open ten oil producers led russia agreed last year curb production million barrels per day get rid oversupply market worldnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Saudi crackdown will not hit investments: energy minister FalihBONN, Germany (Reuters) - Saudi Arabia s corruption investigations are linked to a just few individuals and will not hinder investments in the kingdom, its energy minister said on Thursday. Khalid al Falih said the crackdown was way overdue and would also not have any impact on plans to float shares in oil giant Saudi Aramco.   Everybody understands that this is a limited, domestic affair that the government is simply cleaning house,  he said on the sidelines of the U.N. climate conference in Bonn, Germany. Saudi Arabia s future king has tightened his grip on power through an anti-corruption purge by arresting royals, ministers and investors including billionaire Alwaleed bin Talal who is one of the kingdom s most prominent businessmen. The move by Prince Mohammed bin Salman against Saudi s political and business elite also targeted the head of the National Guard, Prince Miteb bin Abdullah, who was detained and replaced as minister of the powerful National Guard by Prince Khaled bin Ayyaf. The energy minister said many foreign investors who had been have been doing business in Saudi Arabia for decades  will tell you that they have not seen corruption in their interactions with the Saudi government or with the Saudi entities .  It (the crackdown) has no impact on foreign direct investment. It has no impact whatsoever on the kingdom s openness, capital flows and our wide open investment environment,  he added. Saudi Arabia s plan to float around 5 percent of Aramco in an initial public offering (IPO) is a centerpiece of Vision 2030, a wide-ranging reform plan to diversify the Saudi economy beyond oil. Falih said a decision is yet to be made on where the listing would be made.  On the upcoming meeting of the Organization of the Petroleum Exporting Countries in Vienna at the end of the month to decide the fate of a global oil production cut, Falih said an extension beyond the March 2018 expiry was needed to rebalance the oil market. OPEC and ten other oil producers led by Russia agreed last year to curb production by some 1.8 million barrels per day to get rid of an oversupply in the market.  worldnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: saudi crackdown hit investments energy minister falihbonn germany reuters saudi arabia corruption investigations linked individuals hinder investments kingdom energy minister said thursday valid al false said crackdown way overdue would also impact plans float shares oil giant saudi franco everybody understands limited domestic affair government simply cleaning house said sidelines climate conference bonn germany saudi arabia future king tightened grip power purge arresting royals ministers investors including billionaire alwaleed bin tall one kingdom prominent businessmen the move prince mohammed bin salman saudi political business elite also targeted head national guard prince mite bin abdullah detained replaced minister powerful national guard prince killed bin aaf the energy minister said many foreign investors business saudi arabia decades tell seen corruption interactions saudi government saudi entities it crackdown impact foreign direct investment it impact whatsoever kingdom openness capital flows wide open investment environment added saudi arabia plan float around percent franco initial public offering ipo centerpiece vision reform plan diversify saudi economy beyond oil false said decision yet made listing would made on upcoming meeting organization petroleum exporting countries vienna end month decide fate global oil production cut false said extension beyond march expiry needed balance oil market open ten oil producers led russia agreed last year curb production million barrels per day get rid oversupply market worldnews