Gulf Markets Rally on Saudi Economic Incentives

By: AP
By: AP

Saudi Arabia's Tadawul All Shares Index closed up 4.5 percent, at 6,343 points, on Sunday while the Dubai Financial Market closed 2.6 percent higher at 1,509 points.

King Abdullah unveiled the massive financial package on Friday, in a second bid in under a month to allay unrest in the oil-rich nation by pledging additional services, bonuses, housing and aid to his people.

With protests continuing in Bahrain, a short drive from Saudi Arabia, the country has grown increasingly worried about the anti-regime unrest that has ripped through the Arab world.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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