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Saudi bourse rises as prince outlines reforms

RIYADH, April 25, 2016

Saudi Arabia's stock market recovered from early losses and rose in late trade on Monday as Deputy Crown Prince Mohammed bin Salman outlined a sweeping economic reform plan.

Measures include building up the government's Public Investment Fund to become a major player in global markets, restructuring the housing ministry to increase supply of affordable housing, and creating a "green card" system within five years to give resident expatriates long-term residence.

The stock index was up 2.2 per cent in late trade. – Reuters




Tags: Saudi Arabia | Crown prince | Reforms plan |

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