Here are a few things you need to know as Saudi stocks start trading on Thursday.
1) Etihad Atheeb Telecommunication Co. (GO) widened net losses after zakat and tax by 45.68% year-on-year (YoY) to SAR 31.86 million in Q1 2019/2020.
2) Amlak International for Real Estate Finance reported a net profit of SAR 48.03 million for the first 9 months of 2019, compared to a net profit of SAR 69.47 million a year earlier.
3) Yanbu National Petrochemical Co.’s (Yansab) board of directors recommended a 17.5% cash dividend for the second half of 2019, at SAR 1.75 per share, amounting to SAR 984.38 million.
4) Al Ahlia for Cooperative Insurance Co.’s board of directors approved on Tuesday canceling its recent recommendation to the extraordinary general assembly (EGM) to increase the company’s capital through rights issue.
5) AlAhli Takaful announced that the firm has received confirmation from National Commercial Bank (NCB) to renew group credit and care insurance coverage for 1 year.
6) Gulf Union Cooperative Insurance Co. and Al Ahlia for Cooperative Insurance Co. (Al-Ahlia) signed a non-binding memorandum of understanding (MoU) to evaluate their potential merger.
7) Saudi Arabian Fertilizer Co. (SAFCO) and Saudi Basic Industries Corporation (SABIC) signed a share purchase agreement, under which SAFCO will acquire 100% of SABIC Agri-Nutrients Investment Co. (SANIC).
8) Brent crude on Thursday gained 25 cents to reach $67.45 per barrel whereas WTI Crude also increased 25 cents to reach $61.36/bbl.
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