The Canadian Press - ONLINE EDITION

Foreign financial institutions will be able to directly invest in Saudi stock market next year

  • Print

RIYADH, Saudi Arabia - Saudi Arabia's Cabinet has approved opening the country's stock market to foreign investors next year.

The Cabinet decision late Monday paves the way for foreign financial institutions to directly buy and sell stocks listed on Saudi Arabia's $530 billion Tadawul All Share Index starting sometime in the first half of 2015. That's according to a statement carried by the official Saudi Press Agency.

Tadawul reached its highest level in nearly seven years Tuesday when it surged more than 3 per cent after the market opened following the news.

A number of powerful companies are listed on Tadawul, including one of the world's largest petrochemical groups, Saudi Basic Industries Corp.

The International Monetary Fund on Monday raised its economic growth forecast for Saudi Arabia from 4.1 to 4.6 per cent.

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Winnipeg Jet goalie Michael Hutchinson

View more like this

Photo Store Gallery

  • MIKE APORIUS/WINNIPEG FREE PRESS BUSINESS - cow on farm owned by cattle farmer Lloyd Buchanan near Argyle Wednesday afternoon -see Larry Kusch's story  January 04/2006
  • A young gosling flaps his wings after taking a bath in the duck pond at St Vital Park Tuesday morning- - Day 21– June 12, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)

View More Gallery Photos

Poll

Should the federal government be able to censor how Ottawa is portrayed in the CMHR?

View Results

Ads by Google