Here are a few things you need to know as Saudi stocks start trading on Thursday.
1) Saudi Arabia's expenditure for the 2021 state budget is expected to reach SAR 990 billion, with estimated revenue of SAR 846 billion.
2) The Capital Market Authority (CMA) approved the listing of a 30% stake, or 12.9 million shares, of Theeb Car Rental Co.
3) Najran Cement Co. completed the setup of a limited liability specialized transportation firm and obtained the initial license to practice the activity from the Public Transport Authority.
4) Al Rajhi Capital, the fund manager of Al Rajhi REIT Fund, received a letter from Fouzan Trading and General Contracting Co. stating that the latter is proceeding to court to seek rent revision.
5) Albilad Capital distributed cash dividend to Albilad Saudi Sovereign Sukuk ETF unit holders for September, at SAR 0.0342 per unit, or 0.34% initial price per unit.
6) Etihad Atheeb Telecommunication Co. (GO) said that Riyadh’s Administrative Court of Appeal postponed its decision about the company’s appeal against the Communications and Information Technology Commission (CITC) to Oct. 1, 2020.
7) Al Alamiya for Cooperative Insurance Co. signed a contract with Panda Retail Co. to provide general insurance services.
8) Aseer Trading, Tourism & Manufacturing Co.’s (Aseer) board of directors approved the voluntary liquidation of three wholly-owned subsidiaries previously established for investments purposes.
9) Brent crude on Thursday declined 8 cents to reach $40.95 per barrel. WTI crude also decreased 4 cents to reach $40.18/bbl.