Saudi Arabia's Capital Market Authority (CMA) has issued new rules whereby flags will be placed alongside company names on the Saudi Stock Exchange when it has losses of 20% or more, 35% or more and 50% or more of its share capital. Earlier this week, troubled Saudi construction firm Mohammad Al Mojil Group said it had written directly to Deputy Crown Prince Mohammed bin Salman explaining that it may not be able to continue operating. The move comes after a series of scandals involving senior figures in the kingdom's royal family that have led to calls for reform.
Saudi Arabia's Capital Market Authority (CMA) has issued new rules whereby flags will be placed alongside company names on the Saudi Stock Exchange when it has losses of 20% or more, 35% or more and 50% or more of its share capital. The move comes after a series of scandals involving senior figures in the kingdom's royal family that have led to calls for reform.