MIDEAST STOCKS-Saudi surges as reforms announced, rest of Gulf weak | Reuters:
"Saudi Arabia's stock market recovered from early losses and jumped 2.5 percent on Monday as Deputy Crown Prince Mohammed bin Salman announced an economic overhaul for the oil-dependent kingdom.
He outlined a restructuring of the government's Public Investment Fund to make it an international investment power, a planned sale of a stake of less than 5 percent in national oil giant Saudi Aramco, a restructuring of the housing ministry to increase supply of affordable housing, and a "green card" system to give expatriates long-term residence.
There were few details, and many analysts said execution of some of the reforms would be difficult. But the stock market was lifted by a sense that the government was acting energetically to address the economy's problems."
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