7 things you should know before Tadawul opens

1) Oil prices jumped on Friday after a weaker-than-expected US jobs report hurt the dollar. Brent crude and West Texas Intermediate (WTI) both settled 3 percent higher.

2) Saudi Arabia would consider joining other oil producers to change oil output, Adel Al-Jubeir was quoted as saying by Reuters last week. The statement signals that OPEC and non-OPEC may finally be moving towards common ground to rebalance oil prices.

3) The potential joint venture (JV) between Saudi Basic Industries Corp.’s (SABIC) and China’s Shenhua Ningxia Coal Industry Group Co. Ltd. (SNCG) to build a coal-to-chemicals complex is expected to cost between $3 billion to $4 billion, said SABIC’s chief executive Yousef Al-Benyan.

4) Saudi Public Investment Fund (PIF), the kingdom’s top sovereign wealth fund, is mulling investment opportunities in Chinese tech companies, such as China Ali Baba Group, PIF secretary general Yasir Al Rumayyan said in an interview with Al Arabiya TV.

5) Saudi Industrial Services Co.’s (SISCO) subsidiary Red Sea Gateway Terminal signed on Thursday a contract to borrow an eight-year Islamic loan worth SAR 260 million from Al Rajhi Bank and Saudi Fransi Banque.

6) Buruj Cooperative Insurance Co. renewed its health insurance license for another year until August 17, 2017, the company said in a statement on Thursday.

7) Starting today, Tadawul will apply amendments to the rules governing investments of qualified foreign financial institutions (QFIs) in listed firms, according to the Capital Market Authority (CMA).