Here are a few things you need to know as Saudi stocks start trading on Sunday.
1) Saudi Arabian Mining Co. (Maaden) signed a memorandum of understanding (MoU) with Saudi Investment Recycling Co. (SIRC) to discuss the opportunities available in the former's projects and business sites.
2) Qassim Cement Co.'s board of directors approved to appoint Muhammad Al Dawood as Chairman and Muteb Al Shathri as Vice Chairman.
3) Saudi Basic Industries Corp. (SABIC) signed a MoU with Saudi Arabian Oil Co. (Saudi Aramco) and Poland-based group PKN ORLEN for the exploration of potential investment opportunities.
4) International Company for Water and Power Projects announced the change of its name to ACWA Power Co.
5) Saudi National Bank (SNB) completed the issuance of $750 million worth of sukuk to qualified investors worth SAR 3 billion, through private placement.
6) Maharah Human Resources Co.’s subsidiary, Growth Avenue Co., completed the acquisition of an 85% stake in Arabian Shifa Medical Co. and all shares were transferred.
7) Brent crude on Friday gained $1.59 to reach $86.06 per barrel. WTI crude also increased $1.70 to reach $83.82/bbl.
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