World Economy

No Instant Gains for Saudis

No Instant Gains for SaudisNo Instant Gains for Saudis

Saudi investment firms are unlikely to see immediate benefits from the opening of the country’s stock exchange, the chief executive of Jadwa Investment told Reuters, with the company seeking business with regional institutions in the meantime. Authorities in Saudi Arabia released rules on Monday to govern qualified foreign investors wishing to buy into the Arab world’s largest bourse when it opens to direct international participation for the first time on June 15. However, they have been eager to emphasize this is not an exercise in attracting large amounts of cash to the $568 billion market but instead to bring institutional funds in to provide stability and improve corporate governance.