MIDEAST STOCKS-Saudi banks lifted by end of contract freeze for debt-laden builder | Reuters:
"Banking stocks helped Saudi Arabia's index rebound from a two-week low on Thursday after the government ended builder Saudi Binladin Group's ban on bidding for state contracts, potentially easing the strain on a company heavily in debt to local lenders.
Binladin, which was barred from new government contracts last Septmber after a deadly crane accident in Mecca, has now received a royal decree permitting it to bid for state contracts again, a Binladin executive told Reuters, declining to be named because of briefing rules.
A travel ban imposed on the company's top managers has also been lifted, the executive said."
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