Here are a few things you need to know as Saudi stocks start trading on Sunday.
1) Saudi Electricity Co. (SEC) plans to start operations at 11 projects, worth SAR 1.23 billion, in the southern areas in H2 2018.
2) Abdullah A. M. Al-Khodari Sons Company’s (Al-Khodari) renewed its existing SAR 231.37 million Islamic credit agreement with Riyad Bank.
3) Saudi billionaire Prince Alwaleed bin Talal said he will be one of the biggest supporters to Vision 2030 through Kingdom Holding’s participation in various investments sectors.
4) Saudi Arabia’s new bankruptcy law will come into effect starting August 18.
5) Public Investment Fund (PIF) is in talks with banks for its first-ever loan, with the aim to establish a group of lenders with which it will work on future deals.
6) Malath Cooperative Insurance Co. and Allied Cooperative Insurance Group halted talks for a potential merger, as they failed to reach a preliminary agreement over valuation.
7) Saudi Aramco has awarded China National Petroleum Corporation a $569.35 million contract to build an 844-kilometer long pipeline. It also awarded a license by the Saudi Industrial Property Authority (Modon) to develop King Salman Energy Park (SPARK).
8) Saudi Arabia will invest at least $10 billion in South Africa, mostly in the energy sector, including building oil refineries.
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