Saudi stocks drop most in world after Kingdom cuts pay

Saudi Arabian stocks fell more than any other market in the world as the kingdom announced fresh measures to narrow the budget gap. Not a single stock rose on the Tadawul All Share Index, which retreated 3.8 per cent on Tuesday, the most since for a single session since January. Saudi Arabia reduced ministers’ salaries by 20 per cent and that of members of the Shura Council, which advises the monarchy, by 15 per cent. BLOOMBERG<