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  • 10-05-20

    Saudi shares post declines following paintful measures announcment by finance minister

    (MENAFN)

    Saudi stocks posted strong declines on Sunday after the finance minister of the country said that there is going to be painful measures taken in order to limit the economic negative effects of the coronavirus outbreak.

    The Tadawul stock market saw a decline of 7.4 percent as the entire 195 listed stocks on the Arab world's biggest bourse traded in the red except for one.

    Energy giant Saudi Aramco posted a loss of 5.2 percent by the end of the first trading day for the week in the Muslim region.

    Mohammed Al-Jadaan, Saudi Finance Minister, said on Saturday that Saudi Arabia is going to take "drastic measures" in order to challenge the strong coronavirus negative effects and the decline in oil prices.

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