Saudi to open stock market wider to foreigners on Sept. 4

Saudi Arabia will ease restrictions on foreign investment in its securities markets next month, sooner than previously indicated, in an effort to attract more institutional money into its bourse, the regulator said on Wednesday. With oil prices sagging and the economy slowing, Saudi authorities are keen to attract more foreign capital into the kingdom. The stock market opened to direct investment by foreign institutions in June last year, but all types of foreign investor still own only 1.03 per