Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) Saudi Aramco signed one agreement and nine memorandums of understanding (MoUs) with leading Korean entities to advance its downstream strategy and support development of low-carbon energy solutions.
2) United Wire Factories Co. (Aslak) reported an estimated net profit after Zakat and tax of SAR 46.2 million for 2021.
3) Aldrees Petroleum and Transport Services Co. (Aldrees) reported a net profit after Zakat and tax of SAR 176.8 million for 2021.
4) Alkhaleej Training and Education Co. signed a contract awarded by Zakat, Tax and Customs Authority (ZATCA) to implement and operate the authority’s call center at a total amount of SAR 42.26 million.
5) Aldrees Petroleum and Transport Services Co.'s board of directors recommended a 15% cash dividend for 2021, at SAR 1.5 per share, amounting to SAR 112.5 million.
6) Saudi Industrial Export Co. (SIECO) submitted a request to the Capital Market Authority (CMA) to approve a capital cut followed by a capital increase.
7) Yamama Cement Co. plans to sell the sixth production line with all its accessories at the existing plant, which has a production capacity of 3,000 tons of clinker per day.
8) Batic Investments and Logistics Co. signed, through its subsidiary, Smart City Solutions for Communications and Information Technology, a 25-year investment contract for the smart parking project in Downtown Buraydah for SAR 422 million.
9) Brent crude on Wednesday gained $1.05 to reach $88.56 per barrel. WTI crude also increased $1.12 to reach $86.55/bbl.
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