Here are a few things you need to know as Saudi stocks start trading on Sunday.
1) Trade Union Cooperative Insurance Co. has recently started to launch retail products and the impact is expected to be seen starting Q3 2018, chief executive Hussam Al-Qannas told Argaam.
2) Saudi Arabia’s budget deficit is expected to decline 28 percent in 2018, driven by higher oil prices, exports and revenues, Al Rajhi Capital said in a report.
3) Taiba Holding Company (Taiba) divested 3.62 million shares of its stake in Saudi Basic Industries Corp. (SABIC) in Q2 2018 for a total of SAR 523 million.
Separately, the firm said its board of directors has recommended a 4 percent cash dividend for the second quarter of 2018, at SAR 0.40 per share, amounting to SAR 60 million.
4) L’Azurde For Jewelry Co. reported a net profit of SAR 13.9 million in H1 2018, down 51.2 percent year-on-year (YoY) as operating expenses rose.
5) Bupa Arabia for Cooperative Insurance (Bupa Arabia) reported a net profit before Zakat of SAR 188.2 million for the first half of 2018, a 3 percent year-on-year (YoY) rise.
6) Saudi Stock Exchange (Tadawul) said that the listing and trading of units of Swicorp Wabel REIT Fund will begin as of Monday, August 6.
7) SEDCO Capital REIT Fund will pay a 1.525 percent cash dividend for Q2 2018, at SAR 0.1525 per unit, amounting to SAR 9.15 million, fund manager SEDCO Capital said in a statement.
8) Riyad REIT Fund will pay a 1.7 percent cash dividend for the first half of 2018, at SAR 0.17 per unit, amounting to SAR 29.19 million, the fund manager Riyad Capital said in a statement.
9) Saudi Cable Co.’s board of directors recommended a 72.6 percent capital reduction to SAR 110.6 million from SAR 404.1 million to offset accumulated losses.
10) Kingdom Holding Co.’s (KHC) chairman Alwaleed Bin Talal has announced finalizing a SAR 1 billion deal to purchase newly-issued shares in French Deezer, through Kingdom Holding and Rotana Group.
Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com
Comments
{{DisplayName}}
{{ElapsedTime}}