Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) Sadara Chemical Co., a joint venture between Saudi Aramco and Dow Chemical Co., said its 26 manufacturing plants in Jubail chemical complex are ready to begin operations.
2) Jabal Omar Development Co. is planning to raise SAR 4 billion from riyal-denominated sukuk issues, Reuters reported.
3) Tabuk Agricultural Development Co. (TADCO) narrowed its net loss by half in Q2 2017 to about SAR 2.1 million from a net loss of SAR 4.6 million for the same quarter last year.
4) Taiba Holding Co. will pay a 4 percent cash dividend (SAR 0.4 per share) for the second quarter of 2017 on August 15, 2017.
5) Saudi Arabian Cooperative Insurance Co. (SAICO) second quarter saw a net profit before zakat of SAR 11.5 million, down by 46.7 percent year-on-year.
6) Saudi Arabian Oil Co. (Saudi Aramco) plans to shut its condensate splitter at the Ras Tanura refinery in October for a 30-day scheduled maintenance, Reuters reported.
7) Oil prices edged higher on Tuesday, recovering from the sharp decline in the previous session. Brent crude was last up 0.1 percent at $50.8/bbl and WTI crude rose 0.1 percent to $47.62/bbl.
Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com
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