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Wednesday, 2 September 2009

MSCI drops Saudi stocks after row

The global data provider MSCI will pull Saudi stocks from its indexes after refusing to comply with a deadline set by the Saudi bourse to resolve a month-long spat, which might concern some foreign investors.

The Tadawul had set the Monday midnight deadline in demanding veto rights over the composition of certain indexes compiled by MSCI.

The decision could threaten the international appeal of the kingdom’s capital markets as it seeks to attract greater foreign investment.

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