Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) Alinma Tokio Marine Co. has reduced its accumulated losses to SAR 8.9 million, or 2.96 percent of capital, the insurer said in a statement to Saudi bourse, Tadawul.
2) Hail Cement Co. has received a new cement export license, valid for one year, from Saudi Arabia’s Ministry of Commerce and Investment, the cement producer said in a statement in Tadawul on Tuesday.
3) The board of directors of Al Yamamah Steel Industries Co. has recommended a 10 percent cash dividend (SAR 1 per share) for the first half of 2017, amounting to SAR 50.8 million.
4) Ash-Sharqiyah Development Co. has offset its accumulated losses after reclaiming additional 36 million square meters of land, chief executive, Samer Alsourani, told Argaam on telephone Tuesday.
5) Solidarity Saudi Takaful Company (Solidarity) has inked a three-year, non-exclusive marketing agreement with Safe Cover Insurance Agency.
6) Oil prices edged down on Wednesday, after industry report showed an increase in US inventories. Brent crude was last down 0.7 percent at $51.27/bbl and WTI crude fell 0.9 percent to $48.24/bbl.
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