By Evan Abrams
The newly
appointed King Salman of Saudi Arabia replaced the head of the Capital Market
Authority as part of a cabinet reshuffle. The new head, Riyadh attorney
Mohammed Al-Jadaan, has strongly emphasized his commitment to opening the
Kingdom’s $500 billion dollar stock market to direct foreign investment in the
near future. According to GulfBusiness.com,
Mr. Al-Jadaan said the move was “very important” and could have “huge benefits”
for the Saudi economy. He also emphasized the need to increase the number of
listed companies to keep pace with economic growth.
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