Monday 6 November 2017

MIDEAST STOCKS-Saudi resumes fall; another top businessman reportedly held | ZAWYA MENA Edition

MIDEAST STOCKS-Saudi resumes fall; another top businessman reportedly held | ZAWYA MENA Edition:

"Saudi Arabia's stock market resumed falling early on Monday after another top businessman was reported detained in a sweeping anti-corruption purge that has swept up dozens of senior political and economic figures. The Saudi stock index was down 1.1 percent after 75 minutes as Al Tayyar Travel plunged 10 percent after the company quoted media reports as saying its founder Nasser bin Aqeel al-Tayyar, who holds direct and indirect stakes totalling 29.72 percent in the firm, was being held. Kingdom Holding, which had tumbled 7.6 percent on Sunday after its billionaire chairman Prince Alwaleed bin Talal was detained, sank a further 2.8 percent. "



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