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Saudi Arabia opens $585B stock market to foreign investors

2015-06-15 10:54:06| Chemicals - Topix.net

Saudi Arabia's stock market, valued at $585 billion, opened up to direct foreign investment for the first time Monday, as the kingdom seeks an economic boost amid low global oil prices. The opening of the Tadawul Saudi Stock Exchange allows companies, particularly those that are not in the oil business, to raise money straight from foreign investors, with the goal of expanding businesses, diversifying the economy and creating more jobs for the kingdom's growing population.

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