Wednesday 20 October 2010

Reuters Summit-Saudi bourse unlikely to fully open soon | Reuters

Saudi Arabia wants to attract more foreign investments to its bourse but is unlikely to fully open up the biggest Arab bourse and allow full ownership anytime soon, executives told the Reuters Middle East Investment summit.

The Saudi bourse -- the region's largest and most liquid stock market -- has gradually opened up to foreigners but does not allow foreign funds to directly own and trade Saudis shares.

'I don't think they will do anything soon,' said Hisham Tuffaha, head of investment research and financial analysis at Saudi investment bank Bakheet Investment Group."

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