Here are a few things you need to know as Saudi stocks start trading on Monday.
1) United Electronics Co. (eXtra) reported an estimated net profit after Zakat and tax of SAR 280.3 million for fiscal year 2020, up 36% year-on-year (YoY).
2) Swicorp, the fund manager of Swicorp Wabel REIT Fund, announced that the availability period for the debt facility, amounting to SAR 1.4 billion, signed with National Commercial Bank (NCB) on June 26, 2019, has elapsed.
3) Saudi Automotive Services Co. (SASCO) signed a Shariah-complaint bank facility agreement, worth SAR 630 million, with Al Rajhi Bank.
4) Saudi Arabian Amiantit Co. fully settled its loans with Samba Financial Group, Bank Aljazira, Gulf International Bank, Al Baraka Islamic Bank (Bahrain), and Arab Banking Corporation (Bahrain).
5) National Agricultural Development Co. (NADEC) is set to launch a comprehensive business process improvement and cost transformation program to restructure the company’s business operations and profitability.
6) Solidarity Saudi Takaful Co. received the approval the Saudi Council of Cooperative Health Insurance (CCHI), to renew its license.
7) Seera Group Holding’s shareholders approved, on Jan. 7, 2021, the appointment of the members of the board of directors for the upcoming three-year session that starts March 29, 2021
8) Brent crude on Monday declined 59 cents to reach $55.44 per barrel. WTI crude also decreased 33 cents to reach $51.91/bbl.
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