Saudi Cement fined by Capital Markets Authority, Saudi Arabia

Saudi Arabia's Capital Markets Authority (CMA) has fined four listed companies a total of SAR225,000 (US$60,000) including one cement producer for contravening the rules of the Arab world's largest bourse.

Saudi Cement Co was ordered to pay SAR50,000 for failing to include its governance rules in its annual results.

The kingdom's market regulator has asserted more control over the stock market over the past few years  to "eradicate manipulative and speculative trading, and attract more stable institutional and foreign investors," the Dow Jones Emerging Markets Report stated.