Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) Saudi Basic Industries Corp.'s (SABIC) will continue to expand its polymers business in China, driven by growth in the country's piping, building and construction sectors, according to Abdulrahman Al-Fageeh, executive vice-president for petrochemicals, SABIC.
2)L’Azurde For Jewelry Co.'s net profit in Q1 2018 fell nearly 60 percent year-on-year (YoY). The company attributed the decline to a 5.6 percent drop in operating revenue and lower operating cost of revenue.
Separately, the firm said it will set up a new limited liability company in Oman to strengthen its GCC wholesale expansion business.
3) Saudi Industrial Investment Group (SIIG) posted a net profit of SAR 199 million Q1 2018, a 35.81 percent YoY decline on lower profit share from joint ventures, as well as higher selling and marketing expenses and financing expenses from Petrochem.
4)Knowledge Economic City reported a net loss of SAR 13.9 million in Q1 2018, compared to a loss of nearly SAR 7 million in the same period last year. The decline was attributed to higher costs and increased general and administrative expenses.
5)Kingdom Holding Co. has signed an agreement with its partners to sell Swiss hospitality chain Mövenpick Hotels and Resorts Co. (MHR) to its associate, France’s AccorHotels.