"It's an important step that demonstrates our conviction of the country's potential for sustainable growth and economic well being," Sfakianakis told SUSTG.
Bloomberg's Matthew Martin reports that veteran banker John Sfakianakis has been hired by UK-based Ashmore Group PLC to head expansion into the Kingdom ahead of Saudi Arabia's market opening.
Saudi Arabia's National Commercial Bank is set to issue an IPO in October that might raise as much as $4.3 billion, which would be the second largest of 2014 behind China's Alibaba Group Holding Ltd., Bloomberg's Matthew Martin reports.
Most think the opening of the market will be great for investors and provide extra liquidity and capital into the market, but the Saudi government is proceeding cautiously. Here are 5 things you should know about the announcement and its impact.
Saudi Arabia will hear news regarding its inclusion into MSCI, Inc.'s highly sought-after emerging market index, expanding the asset class by as much as $600 billion for the Kingdom.
Ahead of Saudi Arabia’s landmark Vision 2030 announcement, the Kingdom tested its credit-worthiness from international lenders by raising $10 billion, despite downgrades by Moody’s and Standard & Poor’s (S&P) earlier this year.
Saudi Arabia's Capital Market Authority has further tightened its restrictions on anonymous investors trading shares through brokers in a bid to prevent money laundering and financing of militant groups, Reuters reports.
