SAUDI SAND STORMS

Just two weeks ago, Saudi Arabia gathered the global business elite in Riyadh, promising a new age for the oil-rich Kingdom.

As it sought overseas money and investment.

But over the weekend, the Kingdom showed its old face of palace intrigue, with the arrests of  four ministers and 11 princes, including prince AIwaleed bin Talal, a billionaire who is one of the country's most public investment figures.

International investors and business executives are now trying to interpret the power play.

To some, the arrests portend a quick consolidation of authority under the young, reformist Crown Prince Mohammad bin Salman, who wants to vault the country to modernity.

In that view, the arrests are seen as a sign that the crown prince will be able to push through his ambitious economic agenda, including the sale of shares in the global state oil company.

To others, the arrests points to a potential for political tumult that could lead to the collapse of his entire project.

Overseas investors have been reluctant to plow money into a country where the rule of law is weak and the ruling family trumps all.

''It might have good consequences for stability maybe, or just the opposite,'' said Dragan Vickovic, president of Mediterranean International, an oil service company that does business across the Middle East and North Africa.

''It's questionable what is happening behind the scenes. It's a very secretive society.''

The arrests came at an awkward time for the Kingdom.