VOL. XLVII

No 12

22-March-2004

SAUDI ARABIA

CAPITAL MARKETS

Saudi Mobile Telephone Services Removed From Negative List

Mobile telephone services in Saudi Arabia have been removed from the so-called negative list of sectors out of bounds to foreign investors, Muhammad al-Suwail, governor of the kingdoms telecoms regulator, the Communications and Information Technology Commission (CITC), said on 1 March. Foreign investors will now be able to own shares in a joint stock company, which is to be...