With A Change Of Heart, The Feeling Is More Than Mutual In Saudi Arabia

Hard times for the Saudi Arabian stock market may help soften the Saudi government’s position on foreign investors.

Hard times for the Saudi Arabian stock market may help soften the Saudi government’s position on foreign investors. Until now, foreigners could invest only in mutual investment funds instead of individual stocks, Dow Jones Newswires reports. But in the past three weeks, the Saudi Tadawul All Shaer Index lost one-third of its value, and that prompted Saudi billionaire Al-Waleed bin Talal to urge the government to allow foreign investment on its stock market. Meanwhile, Al-Walled appeared on Saudi TV to say he was following the example of his fellow Saudi billionaires and will invests between US$1.3 billion and US$2.6 billion to help lift the sagging market.