US bank Citigroup Inc and emerging markets-focused investment manager Ashmore Group have won permission from the Saudi Arabian regulator to invest directly in the local stock market, industry sources said.
The kingdom opened its $
Foreign investors can own no more than 10 per cent of Saudi Arabia's stock market by value, the regulator said on Monday as it announced rules opening the $575 billion bourse to direct foreign investment next month.
A single f
Saudi Arabia's bourse surged in early trade on Sunday after the regulator said it would open the bourse to direct foreign investment from June 15.
The main index rose 3.9 per cent to 9,614 points, breaking minor technical resi
Middle East funds are bullish on Saudi Arabia's stock market despite concern it is getting richly valued, while they think the United Arab Emirates has bottomed out after a volatile few months, a Reuters survey showed.
Expectations of strong global demand for petrochemicals supported the uptrend in Saudi Arabia's stock market on Wednesday, lifting the bourse to a fresh six-year high, while Dubai builder Arabtec jumped on hopes that a key shareholder would
MubasherTrade Research, a unit of leading financial institution Mubasher Financial Services, has launched a list which highlights its top investment ideas across the Saudi market.
The KSA Favourite List comprises 16 equally-
Saudi shares closed higher on Saturday with gains in all sectors after oil prices rose on Friday for a third straight day. The all-share added 1.4 per cent to 7,481 points.
The oil prices posted weekly gains as data showing
Saudi Arabia's bourse hit a fresh three-and half-year high, with heavyweight petrochemical and banking stocks leading the rally, even as most Gulf bourses experienced smart rallies.
Bellwether Saudi Basic Industries Corp (Sabic) ticke