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The unexpected hard hitting anti-corruption strategy of Saudi Arabia’s Crown Prince Mohammed bin Salman (MBS) has not resulted in a total shutdown of interest of institutional investors or equity holders. Saudi Arabia’s attractiveness has received only a minor hit after the arrest of clique of billionaires and princes, but current signs are showing that Saudi Arabia’s bondholders are a pretty sanguine bunch.

Saudi Crown Prince Mohammad bin Salman’s unexpected crackdown has shattered the tranquility of the kingdom. After Saturday’s news emerged that a long list of high-profile Saudi royals, military leaders and multi-billionaires were arrested or confined to their quarters, all seemed to be only an implementation of the crown prince’s open threat that “no-one is above the law, whether it is a prince or a minister.”

The 38th Gulf Cooperation Council (GCC) Summit resulted in a showdown between Qatar and its Saud-led alliance counterparts. Saudi King Salman decided to send a lower diplomatic delegation in his place, chipping away at the stability in the region. Additionally, in an unexpected move, Saudi Arabia and the United Arab Emirates (UAE) announced that the two countries have formed a new economic and military partnership, separate from the GCC. Arab analysts have already indicated that this could deal a deadly blow to the role of the GCC.

The OPEC circus continues to make headlines. All the five-star hotels are booked, as market analysts fervently examine their glass balls to predict the outcome of Thursday’s big meeting. Again, OPEC strategists have successfully raised media attention to a level where the oil market’s future is undecided. However, the new structure of the oil market was already decided weeks ago between Moscow and Riyadh.

Saudi Arabia, formerly known as one of the toughest spots to do business, due to bureaucracy, political unwillingness and corruption, has changed its face dramatically. Since 2015 the Kingdom has gone through a transformation process of unknown order, leaving almost all Arab Gulf economies looking stagnant. Since the reign of King Abdullah, when the first steps toward economic diversification were set, the country has gone through a rollercoaster ride of economic challenges and diversification efforts.