7 things you need to know when Tadawul opens

1) Oil prices extended gains on Thursday morning, as industry data showed a plunge in US crude stocks last week. Global benchmark Brent crude last traded 1.52 percent higher at $48.672 per barrel (bbl), while WTI rose 1.76 percent to $46.30/bbl.

2) Amana Insurance said it’s planning a SAR 100 million rights issue after cutting its capital to SAR 140 million from the current SAR 320 million. Both the rights issue and capital cut are still pending regulatory approvals.

3) Saudi Oger Ltd., the construction company owned by Lebanon’s Hariri family, is in talks to sell 16.7 percent of its 33.3 percent stake in Tibah Airports Development to Turkish partner TAV, Bloomberg reported, citing an emailed statement from TAV.

4) Saudi Arabian Airlines (Saudia) has raised the first-time issue fees for domestic flights tickets from SAR 15 to SAR 50, Makkah newspaper has reported, citing unnamed sources.

5) Saudi Basic Industries Corp (SABIC) has signed an agreement with US-based investment firm Blackfriars Corp. to sell its Polymershapes unit, which distributes plastic sheet, rod, tube, film, and related products, Alriyadh newspaper reported on Tuesday, citing a company statement.

6) A regulatory trading suspension on senior executives and board members of Saudi-listed firms with a financial period that ends Sept. 30 will begin on Sept. 16, and will continue until the company publishes its preliminary financial results for the period.

7) Jarir Marketing Co. said it opened on Wednesday its second showroom in Kuwait bringing the total number of its stores in GCC countries to 44.