MIDEAST STOCKS-Saudi rises on royal handouts, Qatar outperforms:
"Saudi Arabia’s stock market rose on Sunday after King Salman announced a package of handouts for Saudi citizens to compensate for rising living costs, while Qatar was the strongest market in the region ahead of dividend announcements.
The Saudi index gained 0.6 percent. Shares in most retail sector firms, which could benefit from the package’s boost to consumer spending power, rose with major retailer Jarir up 2.6 percent to its highest since early October.
The information minister was quoted by the Al Sharq Al Awsat newspaper as saying the cost of this year’s handouts, which include bonuses for state employees and the government paying value-added tax (VAT) on some items such as purchases of first homes, would total about 50 billion riyals ($13.3 bln)."
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