MIDEAST STOCKS-Big Gulf markets rise, Saudi leads; Dubai's Arabtec leaps | ZAWYA MENA Edition:
"Major Gulf stock markets rose in early trade on Wednesday, with Saudi Arabia gaining for a fourth straight day after the appointment of businessman Ahmed bin Suleiman al-Rajhi, a son of the founder of Al Rajhi Bank, as labour minister.
Rajhi's appointment has spurred hopes that labour reforms making it more expensive to hire foreign workers will be implemented with less disruption to the private sector.
Also, some analysts view his promotion as a sign that Saudi Arabia's old business families will continue to enjoy government favour after last November's detention of dozens of the business elite in Riyadh's crackdown on corruption."
'via Blog this'
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