Saudi Arabian equities extended their rally for the year to more than 5 per cent yesterday, lifted by gains in the banking sector ahead of fourth-quarter earnings announcements expected this week.
Banks are expected to notch up big profits in the coming weeks as the kingdom's stimulus plans filter through the economy.
Last month, the Saudi council of ministers endorsed 820 billion riyals (Dh803.17bn) in expenditures for this year, an increase of 18.8 per cent compared with last year.
Saudi equities lifted for second week - The National
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