Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Saudi Arabia has issued SAR 6.68 billion in Islamic bonds by reopening its fourth domestic sukuk issue originally launched in October, the finance ministry said in a statement.
2) The Royal Commission of Jubail and Yanbu will announce a new SAR 17 billion petrochemical project after obtaining approvals, the commission’s chairman Mosleh Al-Otaibi told CNBC Arabia.
3) Saudi Arabia plans to increase non-oil exports from the current SAR 200 billion to SAR 2.5 trillion by 2030, energy minister Khalid Al-Falih said on Tuesday.
4) Talaat Hafez, secretary-general of the Media and Banking Awareness Committee of Saudi Banks, has denied reports claiming that lenders have halted mortgage loans until they figure out the real estate market’s situation for 2018, Al Yaum reported.
5) Saudi Basic Industries Corporation (SABIC) is planning to invest $3 billion to $10 billion in acquisition deals over the next five years in the specialties and agri-nutrients sectors, Reuters reported, citing chief executive Yousef Al-Benyan.
6) Abdullah A. M. Al-Khodari Sons Co. (Al-Khodari) has signed a renewal of SAR 94 million Islamic credit facilities agreement with Gulf International Bank (GIB). These credit facilities are to provide bonding commitments and fund the working capital and CAPEX requirements of the projects, the company said in a bourse statement.
7) MetLife AIG ANB Cooperative Insurance Co. said it has received Saudi Arabian Monetary Authority’s (SAMA) approval to sell the trade credit insurance product.
8) Al-Babtain Power and Telecommunication Co.’s board of directors has recommended a 5 percent cash dividend for Q3 2017, at SAR 0.5 per share, amounting to SAR 21.3 million.
9) National Gas & Industrialization Co. (GASCO) said a hearing for the gas tanker explosion incident, which took place in November 2012, will be adjourned until Jan. 8, 2018.
10) Oil prices edged lower on Wednesday, with Brent crude last down 0.7 percent at $63.18/bbl while WTI crude fell 0.5 percent to $57.68/bbl.
Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com
Comments
{{DisplayName}}
{{ElapsedTime}}