Saudi Arabia's market regulator has suspended the local unit of accountancy firm Deloitte & Touche from doing auditing work for listed firms in the kingdom from June 1, 2015, according to a circular seen by Reuters.
Foreign institutional investors are expected to begin direct trading of Saudi Arabian stocks before April next year, the Asharq al-Awsat newspaper reported on Monday, quoting unnamed sources.
In August, the Capital Market
Saudi Arabia's stock market regulator proposed rules on Thursday for opening the $580 billion market to direct investment by foreign institutions, including a 10 per cent cap on foreign ownership of the market's value.
The value of shares bought by foreign investors through swap arrangements on the Saudi stock exchange jumped in July, official statistics showed on Sunday.
Authorities in the kingdom granted long-awaited approval on July 21 to ope
Bahrain Bourse (BHB) was the best performing market in the second quarter, gaining 5.2 per cent, followed by Oman's stock market with a 2.2 per cent gain, according to National Bank of Kuwait (NBK) research.
The Saudi market w
Saudi Arabia’s decision to open up its stock market to foreign financial institutions (FIIs) in the first half of next year is a long-awaited step towards its inclusion in the MSCI emerging markets (EM) index, which could mean active net i
Gold broke below the key psychological level of $1,300 an ounce on Thursday as safe-haven demand for the metal eased due to rising Asian equities and strong Chinese manufacturing data.
Physical demand in the region, however, incre
Saudi capital market, the largest in the Middle East and North Africa (Mena) region, could draw up to $35 billion once it is opened to direct foreign investments, an analyst has said.
The long-awaited move, approved by the cabinet
The opening of Saudi Arabia's $530 billion stock market to foreigners will finally put the Middle East on the investor map.
Foreigners will be allowed direct access to the stock market from next year under reforms announced on
Saudi Arabia's Capital Market Authority plans to open the stock market to direct investment by foreign financial institutions in the first half of 2015, the regulator said on Tuesday.
The CMA said it would publish next month d