Monday 25 April 2016

MIDEAST STOCKS-Gulf lower and Saudi stocks slip ahead of reform plan | Reuters

MIDEAST STOCKS-Gulf lower and Saudi stocks slip ahead of reform plan | Reuters:

"Gulf shares edged lower, giving up recent gains, while the Saudi market fell ahead of the expected announcement of a major reform plan later on Monday.

Saudi Deputy Crown Prince Mohammed bin Salman is due to reveal his "Saudi Vision 2030", a plan to liberate the kingdom from its reliance on oil through steps such as a government efficiency campaign, a bigger private sector role, and more aggressive management of the kingdom's foreign assets.

Regional fund managers said some healthcare, education and insurance shares may see buying interest as a result of the plan, which is likely to try to develop those sectors."



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