Here are a few things you need to know as Saudi stocks start trading on Sunday.
1) The Saudi Investment Bank (SAIB) invited its shareholders to attend the extraordinary general assembly on Sept.26 to vote on the buyback of JPMorgan International Finance Limited’s stake in the bank.
2) The Saudi Stock Exchange (Tadawul) is best-placed among peers to introduce exchange-traded derivatives, given the weight of the companies listed and the available liquidity, its CEO Khalid Al Hussan told Argaam.
3) A US court granted the US Federal Trade Commission a preliminary injunction blocking Tronox’s pending acquisition of Saudi Arabian Cristal’s titanium dioxide business.
4) Abdulla Saad Abo Moati for Bookstores Co.’s general assembly approved a 5 percent cash dividend for the fiscal year ended March 31, 2018, at SAR 0.50 per share, amounting to SAR 8 million.
5) The Saudi Arabian Monetary Authority (SAMA) issued a final warning to Amana Cooperative Insurance Co. (Amana Insurance) regarding the weak performance of the risk-management committee.
6) Saudi Indian Company for Cooperative Insurance (Wafa Insurance) said that shareholders must vote on the proposed capital hike before Sept. 11 to avoid dissolving the company.
7) Emaar The Economic City’s (Emaar EC) board named Ahmed Linjawy as a chief executive officer as of Sept.6.
8) The Saudi banking sector achieved outstanding performance indicators in 2017, SAMA governor Dr. Ahmed A. Alkholifey said.
9) OPEC is expecting to finalize a long-term cooperation pact to help manage the global oil market with Russia and other key oil producer allies at their next meeting in December, said OPEC secretary-general Mohammed Barkindo.
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