Here are a few things you need to know as Saudi stocks start trading on Sunday.
1) Saudi Industrial Exports Co. has signed a memorandum of understanding with Wafrah for Industry and Development Co. to export the company’s products and to represent the company abroad.
2) Arab National Bank has approved paying 4.5 percent cash dividend at SAR 0.45 per share on Thursday, April 6, 2017.
3) The general assembly of Jabal Omar Development Co. approved buying out Makkah Construction and Development Co.'s remaining stake in the developer for SAR 359.6 million, Jabal Omar said in a statement.
4) Saudi Arabia’s Fawaz Alhokair Group is looking to set up three new malls in Egypt’s new administrative capital, New Cairo, as well as the city of Tanta, through the Egyptian Centers for Real Estate Development Co.
5) The Saudi Stock Exchange (Tadawul) will amend the settlement cycle of listed securities to (T+2) starting from April 23, 2017, which allows a two-day settlement period for transactions, the bourse said in a statement.
6) Oil closed with gains last week, with Brent crude up 0.5 percent at $50.80/bbl and WTI crude up 0.6 percent to $47.97. The US oil rig count rose by 21 last week, to the highest level since September 2015, according to Baker Hughes latest data.
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