Here are a few things you need to know as Saudi stocks start trading on Sunday.
1) Al Tayyar Travel Group Holding Co. (Al Tayyar) is planning to expand into Egypt in early 2018, Reuters reported, citing chief executive Abdullah Aldawood.
2) Saudi-listed supermarket chain Abdullah Al Othaim Markets Co. has opened its 34th branch in Egypt. The 500 square-meter store is located in Al Mohandeseen in Giza.
3) Saudi Enaya Cooperative Insurance Co.’s (Saudi Enaya) board of directors has recommended a capital increase through a SAR 200 million rights issue.
4) Etihad Etisalat Co.'s (Mobily) board of directors has approved appointing Abdullah Mohammed Al-Issa (Independent member) as its new vice-chairman.
5) Knowledge Economic City (KEC) said it has appointed Amin Mohammed Amin Shaker as managing director, until the end of the current session of the board on July 27, 2018.
6) Saudi Arabia’s Public Investment Fund (PIF) has appointed UK’s Buro Happold as program manager for its $500 billion NEOM mega project, MEED reported.
7) Saudi Arabia’s recent decision to lift the 35-year-long ban on commercial cinemas in the country will boost not just the entertainment segment, but also related sectors, Aidrous Al Bar, executive board member of Red Sea Markets Ltd Co., told Argaam.
8) Oil prices closed last week on a mixed note, with Brent crude losing 0.1 percent to reach $63.23/bbl, while WTI crude rose 0.5 percent to $57.3/bbl.
Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com
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