MIDEAST STOCKS-Saudi shares rise before reform details; Gulf mixed | Reuters:
"Saudi Arabia's stock market rose on Monday before the kingdom announces details of its economic reform plan. Other Gulf markets were mixed as the start of the religious holiday of Ramadan thinned trading volumes.
The National Transformation Plan, part of reforms intended to make the Saudi economy less dependent on oil revenue, was to be presented to the cabinet for approval late on Monday. Details were to be disclosed in daily news conferences with ministers starting on Monday evening.
It was not clear which economic policies would be discussed in the news conferences, but the broad reform plan is known to include subsidy cuts, tax increases, sales of state assets, a government efficiency drive and efforts to spur private-sector investment."
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