5 things you need to know on Tadawul today

Here are a few things you need to know as Saudi stocks start trading on Tuesday.

1) Al Ahsa Development Co. said that it has completed talks over buying a partner’s stake in Al-Ahsa Medical Services Co., which is 53.61 percent-owned by Al Ahsa.

2) Alujain Corporation’s extraordinary general assembly has elected Aziz Al Qahtani, Saleh Al Shenaifi, Jassim Al Rumaihi, and Mohammed Al Ibrahim as members of the audit committee for the current three-year term ending June 14, 2020.

3) State-owned Saudi Aramco will increase its storage capacity in Japan by 1.9 million barrels of crude (300,000 kiloliters) on Sep. 13, Reuters reported.

4) Mediterranean and Gulf Insurance and Reinsurance Co. (MedGulf) said it has submitted its request to reduce capital – by SAR 600 million to SAR 400 million – to Capital Market Authority (CMA), following an approval from Saudi Arabian Monetary Authority.

5) Oil prices edged lower on Tuesday, with Brent crude down 0.2 percent at $53.75/bbl and WTI crude declining 0.1 percent to $48.01/bbl.

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com