Saudi Arabia has been making a push to attract foreign investors by opening up its capital markets as the kingdom attempts to diversify the economy and reduce its dependence on oil revenue. Foreign ownership has languished, however, as investors have focused on the government’s austerity push and recent domestic political changes rather than market reforms. Announcements from MSCI and FTSE Russell suggest the country could be promoted to emerging markets status this year, something that will likely draw global investors’ interest and serve to highlight the opportunity in this deep, diversified market that has been overlooked by many global investors until now. READ MORE
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