Saudi to loosen foreign ownership limits for stocks

Saudi Arabia will loosen restrictions on foreign ownership in its stock market in order to improve the investment environment, the Capital Market Authority said on Tuesday. Each investor under Saudi Arabia's Qualified Foreign Institutions (QFI) scheme, which allows foreign institutions to buy stocks directly, will be allowed to own a stake of just under 10 percent of a single company, the CMA said. Previously, each QFI together with its affiliates could only own a maximum of 5 percent of the sha