Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Saudi Commission for Tourism and National Heritage (SCTH) along with the interior and foreign affairs ministries have completed and submitted the regulations of tourist visas to the government for approval.
2) Saudi real estate sector is expected to face some challenges in 2018, due to the exit of expats following the Kingdom’s decision to impose expat fees, CNBC Arabia reported, citing chairman of Dar Al Arkan Real Estate Development Co. Yousef Al Shelash.
3) Alandalus Property Co.’s board of directors has recommended a 20 percent cash dividend for the fiscal year 2017, at SAR 2 per share, amounting to SAR 140 million.
4) Dur Hospitality Co.’s (Dur) general assembly has approved a 3 percent cash dividend for the second half of 2017, at SAR 0.3 per share, amounting to SAR 30 million.
5) Al-Babtain Power & Telecommunication Co. (Al-Babtain) board of directors has recommended a 5 percent cash dividend for Q4 2017, at SAR 0.5 per share, amounting to SAR 21.3 million.
6) Fitaihi Holding Group’s board of directors has recommended a 5 percent cash dividend for fiscal year 2017, to be issued at SAR 0.5 per share, amounting to SAR 27.5 million.
7) Swicorp Wabel REIT’s initial public offering (IPO) will end on April 8, 2018.
8) Saudi Arabia’s Capital Market Authority (CMA) approved on March 26, the listing of the units of MEFIC REIT on Saudi stock market.
9) Saudi Stock Exchange (Tadawul) said in a statement that listing and trading government debt instruments will begin April 8.
10) Crude oil prices edged higher on Monday, with Brent crude last up 0.6 percent at $69.72/bbl while WTI crude rose 0.4 percent to $65.19/bbl.
Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com
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