10 things to watch on Tadawul today

Tadawul trading screen

Here are a few things you need to know as Saudi stocks start trading on Sunday.

1) Etihad Etisalat Co. (Mobily) reported a net profit after Zakat and tax of SAR 319 million for Q1 2022, a jump of 41% from SAR 226 million last year.

2) Tanmiah Food Co. reported a net profit after Zakat and tax of SAR 1.5 million for Q1 2022, a slump of 92% from SAR 18.8 million in the year-earlier period.

3) Shareholders of Gulf Union Alahlia Cooperative Insurance Co. approved increasing the company’s capital through a SAR 229.5 million rights issue.

4) Al Abdullatif Industrial Investment Co. signed a contract with the Ministry of Islamic Affairs, Dawah and Guidance for the manufacture, supply and furnishing of mosques across all 13 regions in Saudi Arabia.

5) Sumou Real Estate Co. signed an agreement to develop infrastructure and superstructure, along with marketing and sales of land plots and residential units (off-plan) for land on Abqaiq Road in Dhahran.

6) Jabal Omar Development Co.’s board of directors recommended a capital increase from SAR 9.29 billion to SAR 11.55 billion by issuing 225.13 million shares

7) Alkhorayef Water and Power Technologies Co. secured four contracts, with a total value of SAR 1.86 billion, for water quality improvement projects in Eastern Province.

8) Yanbu Cement Co. completed the legal procedures for the purchase of total shares owned by Shuaiba Industrial Co. in Yanbu Saudi Kuwaiti Paper Products Co.

9) Arabian Centres Co. signed a management and operation agreement for Marina Mall Jubail in consideration of 22% of the mall’s annual revenue.

10) Brent crude fell 1.55% to close at $106.65 per barrel on Friday. WTI crude declined 1.66% to reach $102.07/bbl.