Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) Saudi Arabia has signed three agreements and investment MoUs with Egypt, in the presence of Crown Prince Mohammad bin Salman and Egyptian President Abdel Fattah El-Sisi.
2) Arab National Bank (ANB) would have to pay additional zakat claims of SAR 426 million for the years 2004-2013, according to the lender's financial statements seen by Argaam.
3) Arab National Bank (ANB) expected a net decrease of its shareholders’ equity by 2.05 percent to 2.26 percent as of January 1, after the enactment of IFRS9 accounting standard.
4) Saudi Public Transport Co. (SAPTCO) has received a license from Saudi Ministry of Haj and Umra, to act as integrated Umrah service provider.
5) Jazan Energy and Development Co. reported a net profit of SAR 3.2 million for fiscal year 2017, down 64 percent year-on- year (YoY) due to lower sales.
6) Saudi Arabia’s Capital Market Authority (CMA) has approved Alawwal Capital Company's request to offer, register and list units of Alawwal Almarkaziya REIT on the Saudi Stock Exchange (Tadawul).
7) As Riyad REIT focuses on achieving steady profit growth for unit holders, the fund intends to continue to diversify its real estate portfolio by acquiring high-end properties in 2018. The fund plans to expand across various sectors and increase its presence in Jeddah.
8) ACWA Power has selected JPMorgan and Citigroup to arrange its initial public offering (IPO), which could raise up to $1 billion, Reuters reported.
9) Crude oil prices extended gains on Tuesday, with both Brent crude and WTI crude last trading up 0.2 percent each to $65.66/bbl and $62.69/bbl, respectively.
Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com
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