الرئيسية
0634 GMT - UAE bourses rise in early trade, taking support
from a possible opening up of Saudi Arabia's market to direct
foreign ownership.
Sources said Saudi Arabia's Capital Market Authority wants
to allow direct ownership of local shares by foreign investors
that manage at least $5 billion.
UAE investors are hopeful for a knock-on benefit from fresh
funds into the kingdom's stock market.
"It might encourage (foreign) fund managers to devote more
attention to the whole region," says Paul Gamble, head of
research at Riyadh-based Jadwa Investment.
Dubai's Drake & Scull gains 1.5 percent after
saying its Saudi unit was awarded an estimated 130 million Saudi
riyals contract for a hospital in the province of Dammam in
Saudi Arabia, according to a bourse statement.
from a possible opening up of Saudi Arabia's market to direct
foreign ownership.
Sources said Saudi Arabia's Capital Market Authority wants
to allow direct ownership of local shares by foreign investors
that manage at least $5 billion.
UAE investors are hopeful for a knock-on benefit from fresh
funds into the kingdom's stock market.
"It might encourage (foreign) fund managers to devote more
attention to the whole region," says Paul Gamble, head of
research at Riyadh-based Jadwa Investment.
Dubai's Drake & Scull gains 1.5 percent after
saying its Saudi unit was awarded an estimated 130 million Saudi
riyals contract for a hospital in the province of Dammam in
Saudi Arabia, according to a bourse statement.