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Sunday, 9 October 2016

MIDEAST STOCKS-Banks drag Saudi down, rest of region sluggish | Reuters

MIDEAST STOCKS-Banks drag Saudi down, rest of region sluggish | Reuters:

"Banking shares dragged Saudi Arabian stocks lower in early trade on Sunday while markets in the rest of the region moved little as investors readied for third-quarter corporate earnings announcements.

The Saudi stock index fell 0.5 percent in the first 75 minutes as the banking index dropped 0.9 percent.

The central bank has told commercial banks to postpone for a month receiving payments on consumer loans to customers whose incomes have been hit by cuts to public sector allowances, the Okaz newspaper reported on Sunday, citing unnamed sources."



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