MIDEAST STOCKS-Saudi rises as government winds down graft purge, region mostly weak:
"Saudi Arabian stocks rose on Tuesday as the government indicated it was winding down its crackdown on corruption, while most other major Middle Eastern bourses were weak. The Saudi stock index closed 0.8 percent higher on active volumes after the government’s announcement in late trade. The statement said 56 people were now detained in the purge, down from well over 100 at one stage, and that authorities had reached their target of securing $100 billion of financial settlements from suspects. It is not clear that the government will get any quick infusion of cash: most of the settlements involve real estate or other illiquid assets."
'via Blog this'
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