07-06-2016 07:51 via news.yahoo.com

MIDEAST STOCKS-Saudi bourse may edge up after reform announcement

Saudi Arabia's stock market may edge up on Tuesday after the government announced details of its economic reform plan, while a positive global environment looks likely to support other Gulf markets, though turnover will be thin because of Ramadan. In Saudi Arabia, Monday night's 110-page reform announcement contained hundreds of projects and targets, including substantial austerity measures. Mohamad al-Hajj, senior analyst at EFG Hermes in Dubai, said there would be more pain for Saudi companies
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