Saudi Arabia`s stock market fell in early trade on Sunday after Crown Prince Mohammed bin Salman moved to consolidate his power and crack down on corruption with a Cabinet reshuffle and a string of detentions of prominent figures.
The Saudi equities index was down 1.5 percent after eight minutes of trade. Investment firm Kingdom Holding, owned by billionaire Prince Alwaleed bin Talal, who was one of those detained, plunged 9.9 percent.
Saudi-owned Al Arabiya television reported a new anti-corruption committee chaired by Prince Mohammed had detained 11 princes, four current ministers and tens of former ministers.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Tata Power Q4 Results Preview: Tata group electricity generator likely to clock 22% PAT jump, 193 bps margin improvement
Gold and Silver rate today (May 7, 2024): Precious metals subdued; yellow metal above Rs 71,300; white metal above Rs 82,850
5 investment schemes that provide monthly pension to senior citizens fixed deposit fds savings scss guaranteed return atal pension yojana post office monthly income swps mutual fund
12:52 PM IST