Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Saudi Aramco received a favorable ruling from US District Court for Southern District of Texas on Nov. 17, 2020, to dismiss the case brought by alleged heirs of Khalid Abu Al-Waleed Al-Hood Al-Qarqani in their claim to enforce a roughly SAR 67.3 billion purported foreign arbitral award.
2) Saudi Telecom Co. (STC) sold a 15% stake in STC Pay, a fully-owned subsidiary, to Western Union for SAR 750 million.
3) National Industrialization Co. (Tasnee) delayed the restart of operations at its Titanium Ilmenite Smelter Plant to Q3 2021, citing precautionary lockdown measures due to COVID-19.
4) National Company for Learning and Education’s (NCLE) net profit after Zakat and tax increased by 15% year-on-year to SAR 57.8 million for FY 2019/2020 ending on Aug.31, 2020. The board also recommended an 8% cash dividend for the period.
5) Saudi Real Estate Co. (Al Akaria) sold its entire stake of 6.1% in Hail Cement Co. for SAR 96.9 million.
6) Jarir Marketing Co. announced the closure of its showroom in Abu Dhabi-based Jimi Mall.
7) Tihama Advertising and Public Relations Co. agreed on an early repayment of the existing Islamic Murabaha with White Door Holding Co.
8) Saudi Ground Services Company (SGS) signed a three-year contract with Wizz Air Abu Dhabi to provide ground handling services in airports across the Kingdom.
9) Nama Chemicals Co. received an offer from the Saudi Industrial Development Fund (SIDF) to reschedule insolvent loans.
10) Crude oil prices edged up on Monday morning, with Brent crude gaining 24 cents to $45.07/bbl, while WTI crude rose marginally to $42.43/bbl.