LONDON: Britain’s Heathrow Airport said it would shrink its operation as part of a plan to keep open for some cargo and passenger flights during the coronavirus crisis, which has brought most air travel to a standstill.
Heathrow, which is usually Europe’s busiest airport, said it would cut costs to preserve cash as it warned its financial performance would be severely affected by the current situation.
Owned by Spain’s Ferrovial, the Qatar Investment Authority, China Investment Corp. and others, Heathrow said it had a 12-month liquidity horizon through cash and committed facilities of £3.3 billion available.
Airlines and airports are expecting a range of government support measured to be announced in the coming days.
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Britain’s Heathrow to shrink operations during coronavirus
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Britain’s Heathrow to shrink operations during coronavirus
- Heathrow said it had a 12-month liquidity horizon through cash and committed facilities of £3.3 billion available
Saudi stock market opens its doors to foreign investors
RIYADH: Foreigners will be able to invest directly in Saudi Arabia’s stock market from Feb. 1, the Kingdom’s Capital Market Authority has announced.
The CMA’s board has approved a regulatory change which will mean the capital market, across all its segments, will be accessible to investors from around the world for direct participation.
According to a statement, the approved amendments aim to expand and diversify the base of those permitted to invest in the Main Market, thereby supporting investment inflows and enhancing market liquidity.
International investors' ownership in the capital market exceeded SR590 billion ($157.32 billion) by the end of the third quarter of 2025, while international investments in the main market reached approximately SR519 billion during the same period — an annual rise of 4 percent.
“The approved amendments eliminated the concept of the Qualified Foreign Investor in the Main Market, thereby allowing all categories of foreign investors to access the market without the need to meet qualification requirements,” said the CMA, adding: “It also eliminated the regulatory framework governing swap agreements, which were used as an option to enable non-resident foreign investors to obtain economic benefits only from listed securities, and the allowance of direct investment in shares listed on the Main Market.”
In July, the CMA approved measures to simplify the procedures for opening and operating investment accounts for certain categories of investors. These included natural foreign investors residing in one of the Gulf Cooperation Council countries, as well as those who had previously resided in the Kingdom or in any GCC country.
This step represented an interim phase leading up to the decision announced today, with the aim of increasing confidence among participants in the Main Market and supporting the local economy.
Saudi Arabia, which is more than halfway through an economic plan to reduce its dependence on oil, has been trying to attract foreign investors, including by establishing exchange-traded funds with Asian partners in Japan and Hong Kong.
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