Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) Saudi Basic Industries Corporation (SABIC) signed a governance agreement with Clariant AG to define its position as a major shareholder and confirm Clariant AG’s independence as a public company under Swiss corporate laws.
2) Saudi Aramco, the world's largest oil producer, will spend more than SAR 500 billion ($133 billion) on oil and gas drilling over the next decade, said company's senior vice president for upstream Mohammed Al-Qahtani.
3) Saudi Arabia has established the agencies and legislative framework needed to implement and run its national atomic energy project, said Khalid Al-Falih, Minister of Energy, Industry and Mineral Resources.
4) Saudi Arabia is expected to record a current account surplus of SAR 71 billion in the second quarter of 2018, governor of Saudi Arabian Monetary Authority (SAMA) Ahmed Alkholifey said.
5) Saudi Indian Cooperative Insurance Co. received a no-objection letter from SAMA on the company’s proposed capital hike.
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