As Saudi Arabia's $500 billion-plus bourse prepares to open its doors to foreigners in June, outside investors appear ready to accept the political and financial risks as they finally get access to a market that rivals Brazil and Russia'
Saudi Arabia will open its $532 billion stock market to direct foreign investment on June 15, allowing qualified foreign institutions to buy shares from that date, the Capital Market Authority said on Thursday.
Final rules coverin
The Kuwait Stock Exchange may offer up to 44 per cent of its shares to a company that has experience in operating bourses when it goes public, a senior government official told Reuters on Thursday.
Such a move, which still require
Dubai-based financial services firm Arqaam Capital has chosen Rothschild to advise it on its planned stock market flotation in the emirate later this year, sources aware of the matter told Reuters on Thursday.
The appointment come
Middle East funds are turning positive on Saudi Arabia's stock market because of signs that oil prices are starting to stabilise, the latest Reuters survey of asset managers shows.
Many fund managers became bearish on Saudi Ar
Gold added to overnight losses on Thursday as strength in the dollar and equities plus robust US economic data reduced the metal's appeal as a hedge, triggering further outflows from the top bullion-backed fund.
Spot gold ease
Gold hit a three-week high on Tuesday as sliding oil prices knocked stock markets and concerns simmered over Greece's future in the euro zone, prompting investors to seek out bullion as a safe store of value.
European shares r
The United Arab Emirates central bank discussed margin lending at a board meeting this week and ordered that all aspects of the issue be studied, the central bank said on Wednesday.
In a brief statement describing discussions at t
Saudi Arabia's market regulator has suspended the local unit of accountancy firm Deloitte & Touche from doing auditing work for listed firms in the kingdom from June 1, 2015, according to a circular seen by Reuters.
Foreign institutional investors are expected to begin direct trading of Saudi Arabian stocks before April next year, the Asharq al-Awsat newspaper reported on Monday, quoting unnamed sources.
In August, the Capital Market