Overturning the Money Lender’s Table
“When in doubt, follow the money trail! M. Harkins
Lloyd’s of London insured several Olympics, and it appears it did not insure the 2000 Olympics. It balked at insuring the 2004 Olympics.
Does President Trump know Osama Bin Laden’s family are going to build the world’s tallest building. Did you know?
It is 11:36 PM on 911. I just watched people jumping out of a trade tower, because they were being roasted to death. Lloyd’s paid out to major broadcaster because an event was canceled. If the truth got out Bin Laden’s Boys were targeting a nuclear plant near the Olympic stadium, the Reinsurer would have lost a billion?
“Green said the policy holders range from television networks ‘down to the fellow who sells Olympics T-shirts … because if there’s no Olympics, he can’t sell his T-shirts, can he?‘
Lloyd’s provided similar coverage for the 1980 Olympic Games in Moscow, and ended up paying $78.3 million to NBC when the U.S. Olympics team failed to participate.
To be continued
Goodnight!
Binladin Group Global Holding Company since 2019,[1] is a multinational construction conglomerate headquartered in Jeddah, Saudi Arabia. In 2011, the Saudi Binladin Group signed a US$1.23 billion contractual agreement to construct the tallest building in the world, Jeddah Tower in Jeddah. They are also party to a US$3.4 billion agreement to construct the Doha Metro located in Doha
https://www.cbc.ca/sports/sydney-officials-downplay-terrorist-threat-1.234391
Lloyd’s refuses Olympics cover
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By JAMES ROSSITER
Updated: 19:00 EDT, 10 March 2004
CONCERNS are growing for the Athens Olympics after Lloyd’s of London declined to underwrite £500m of cancellation cover amid fears that building work will not be finished in time for the August opening.
Lloyd’s underwriters are also understood to have baulked at insuring the Games’ organisers because of potential terrorist attacks and the risks associated with cruise ships being used as floating hotels.
The Athens 2004 Olympics Committee has now asked Marsh, its American insurance broker, to look for cover through other insurance markets, says a report in today’s Insurance Times. The Bermudan insurance market may be the next port of call.
The weekly insurance-industry paper said that one leading event cancellation insurer had already turned down a request from Marsh for cover.
A Lloyd’s underwriter said: ‘Perhaps the venues are not as complete as they would like. But Greece has got everything – you’re in an earthquake zone and you’ve also got the marine, cargo and terrorism risks.’
Failure to find appropriate cover in time for this August’s opening could cause havoc with the multi-billion-dollar commercial sponsorship and media rights deals underpinning the Games.
Sponsors Alpha Bank and Visa have issued an Athens 2004 Gold Visa card, the first banking product to actively support the Games.
Experts estimate that an event cancellation policy could provide between £300m and £500m of cover.
LOS ANGELES — Lloyds of London is ‘heavily involved’ in insuring that the 1984 Olympic Games will come off as planned, with total coverage estimated to amount tohundreds of millions of dollars, it was reported.
‘I don’t think it’s in the billions yet,’ Lloyd’s Chairman Sir Peter Green told the Los Angeles Times in an interview published Friday.
Lloyd’s is insuring against ‘abandonment of the games in whole or part for any cause,’ he said, adding that could include anything from an earthquake that levels the city — which Lloyd’s considers a very real risk — to a boycott by Eastern Bloc countries.
Green said the policy holders range from television networks ‘down to the fellow who sells Olympics T-shirts … because if there’s no Olympics, he can’t sell his T-shirts, can he?’
Lloyd’s provided similar coverage for the 1980 Olympic Games in Moscow, and ended up paying $78.3 million to NBC when the U.S. Olympics team failed to participate.
The official insurance company of the 1984 Games is San Francisco-based Transamerica Corp., which will handle, among other things, the more mundane insurance of Olympic sites, plus health and workman’s compensation plans.
Sydney officials downplay terrorist threat
CBC Sports · Posted: Aug 26, 2000 11:43 AM PDT | Last Updated: November 10, 2000
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Australian officials are downplaying a report that terrorists had planned to blow up a nuclear reactor in Sydney during the Olympic Games.
The New Zealand Herald stated documents found by police during raids in March of a suspected people-smuggling operation suggested the group would attempt to blow up the small Lucas Heights research reactor, located in a suburban area south of Sydney.
Upon word of the plot demonstrators, including nearby residents, converged on the site of Australia’s only nuclear reactor to protest that the plant was old, leaky and has long been a security threat.
“Our federal government expects Australians to put up with a huge terrorist threat right on our doorstep because they don’t want people to know it (the reactor) is there,” said local councilwoman Genevieve Rankin.
Sydney has a population of about 4.5 million which could swell by another million during the Sept. 15 to Oct. 1 Games.
Australian officials maintain there was “no credible threat” to the 1950s research reactor, located 25 kilometres from the main Olympic stadium.
Three Auckland residents with suspected ties to the Afghanistan-based terrorist Osama bin Laden were arrested on suspicion of people-smuggling and of passport fraud during the raids and a fourth suspect was taken into custody last week, said New Zealand police Det.-Supt. Bill Bishop. All four are expected to appear in court next week.”Nobody has been arrested for terrorist activities or for being part of a terrorist group or anything like that,” he said.
There was no evidence specifically pointing to an attack during the Olympics, but the map and other material aroused investigators’ suspicions, Bishop said.
Milton Cockburn, a spokesman for the Sydney 2000 organizing committee, said security during the Olympics was the responsibility of the New South Wales police, and declined to comment further. New South Wales police said all Olympic threats are taken seriously and it will continue to monitor the investigation.
Initial fears of terrorist attacks during the 2000 Games surfaced in May when police arrested a man whose home near the Olympic Village was packed with explosives.Foreign Affairs Minister Alexander Downer said last week there was no direct threat of terrorist attack on Australia during the Olympics, but also said bin Laden was “an example of the sort of people we clearly monitor as best we can.”
A similar reactor near the Olympic site in Atlanta was shut down during the 1996 Games as a precaution; a move many feel makes sense.
Anti-plant protestor Dr. Helen Caldicott told a parliamentary inquiry two years ago that normal reactors like the one in Chernobyl take 40 minutes to melt down. Being a highly-enriched uranium reactor, the reactor in question would take just eight minutes to melt down, leaving no time to evacuate the surrounding suburbs.
Australia’s Science Minister, Nick Minchin, said security would be tightened but there has been no credible threat to the facility.
Nuclear experts at the Australian Nuclear Science and Technology Organization confirmed Minchin’s statement in a report which states the threat of a serious attack “was very low and any threat to technology or material was also very low.”
The reactor is used for medical research, not as a power plant. It is also much smaller than an electricity-generating nuclear reactor, producing only about 10 megawatts of thermal energy compared with the 3,000 megawatts produced by a typical electricity-generating reactor.
Saudi Binladin Group (SBG; Arabic: مجموعة بن لادن السعودية, romanized: Majmūʿat bin Lādin al-Suʿūdiyya), known as Binladin Group Global Holding Company since 2019,[1] is a multinational construction conglomerate headquartered in Jeddah, Saudi Arabia. In 2011, the Saudi Binladin Group signed a US$1.23 billion contractual agreement to construct the tallest building in the world, Jeddah Tower in Jeddah. They are also party to a US$3.4 billion agreement to construct the Doha Metro located in Doha.[3] The conglomerate comprises an estimated 537 companies.[4] The group’s founder was business magnate Muhammad bin Ladin, father of Osama bin Laden. As of December 2025, the Saudi Ministry of Finance holds a majority stake following a debt-to-equity conversion approved by shareholders.[2]
Overview
The SBG was founded in 1931 by Sheikh Muhammad bin Ladin, whose relationship with the country’s founder, Abdulaziz Al Saud, led to important government contracts such as refurbishing the mosques at Mecca and Medina. In 1964, Muhammad bin Ladin was commissioned to reclad the Dome of the Rock in Jerusalem.[5] After the death of Sheikh Mohammed in 1967, the group was headed by Mohammed Bahareth, brother of Mohammed’s first wife and uncle of his oldest children. In 1972, Salem, the eldest son of Muhammad bin Ladin, took over as his father’s successor with the assistance of several brothers. Upon Salem’s death in a plane crash in 1988, the leadership of the group passed to one of Salem’s brothers, Bakr, along with thirteen other brothers who make up the board of the bin Ladin group. The most important of these include Hasan bin Ladin, Yeslam bin Ladin and Yehia bin Ladin.[citation needed]
The Group considered an initial public offering in 2011, but declined to do so due to a combination of low oil prices, a weak stock market, and bureaucratic obstacles.[4]
In April 2018, Bakr bin Laden, as well as his brothers Saleh and Saad, transferred their 36.2% stake in the Saudi Binladin Group to the Istidama Holding Company, which is owned by the Ministry of Finance.[4] The government of Saudi Arabia subsequently established a five-person committee to run the Binladin Group, which includes of Abdul Rahman Al Harkan, Khaled Nahas, Khalid Al Khowaiter.[4] Reuters described the ownership transfer as a functional nationalization, with al-Harkan, the committee’s chairman, reporting to Finance Minister Mohammed Al-Jadaan.[4] al-Karkan subsequently negotiated an 11 billion riyal loan from the Ministry of Finance.[4]
In December 2025, shareholders approved converting debt owed to the Ministry of Finance into shares as part of a capital increase, raising the ministry’s ownership to 86.38%. [6][7]
Current activities
The bin Ladin group is represented in most Saudi cities — Riyadh, Dammam — and in a number of major cities in the region (Beirut, Cairo, Amman, Dubai). According to a synopsis by the PBS news program Frontline:[8]
- in Egypt, the SBG is headed by Omar bin Laden as Chairman, Khaled bin Laden as vice chairman, Tarek Helmy as CEO, and represents that country’s largest foreign-owned private equity group, with over 40,000 employees.
- in Lebanon, the SBG, represented by Yehia bin Ladin, has been holding negotiations with the local authorities for a $50 million share in the project to rebuild the Beirut Central District within the framework of the Solidere Project and in conjunction with the al Baraka Group and the bin Mahfouz Group.
- in London, the SBG set up a representative firm called Binexport in November 1990.
The Group has constructed Abraj Al Bait Towers in Mecca[9] and has been contracted by Kingdom Holding Company to build the Jeddah Tower.[10]
On 11 September 2015, while doing construction work in the Grand Mosque in Mecca, Saudi Arabia, one of the Group’s cranes collapsed due to high winds causing 118 deaths and almost 400 injuries.[11] As a result, the Saudi king banned the firm from taking new projects while having its current projects reviewed. The Saudi government removed the ban on the Binladin Group in May 2016, allowing them to bid on new projects.[11]
Saudi Arabia projects
- Royal Terminal, Jeddah
- King Abdulaziz International Airport, New Haj Terminal, Jeddah
- Al Faisaliyah Center
- Madina–Qassim Expressway
- Um Alqura University, Makkah
- Lotus Compounds, Jeddah
- Noura bint Abdul Rahman University
- Abraj Al Bait Towers, Makkah
- Jeddah Tower, Jeddah
- King Abdullah Economic City
- Jamaraat Bridge
- Saudi Arabia National Guard Housing Project
- King Abdullah Financial District, Riyadh
- Saudi Arabian Railways Projects CTW-100 and CTW 110
- Al Masjid Al-Haram expansion
International projects
- Blaise Diagne International Airport, Senegal
- Sharjah International Airport Expansion & Development, UAE
- University of Sharjah, UAE
- Expansion of Velana International Airport, Maldives
- Kuala Lumpur International Airport, Malaysia
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