Here are a few things you need to know as Saudi stocks start trading on Sunday.
1) Saudi's role as one of the leading sovereign issuers in emerging markets has been enhanced with the announcement of Saudi Arabia's issues inclusion in the JPMorgan Emerging Markets Index.
2) Saudi Aramco met global oil market demand and has expanded to include other segments such as the gas sector through developing several gas fields, including Al-Fadhili field, CEO Amin Nasser told MBC.
3) Saudi Investment Bank’s (SAIB) extraordinary general assembly approved the buyback of JPMorgan International Finance Limited’s stake in the bank.
4) Saudi Cable Co. is expected to turn to profitability by H2 2019 or 2020, chairman Meyassar Nowailati told CNBC Arabia.
5) Derayah Financial, the fund manager of Derayah REIT, acquired the building of Education & Skills International School in Riyadh for SAR 41.17 million.
6) Saudi Fisheries Co. signed a SAR 130 million medium-term Tawarruq loan agreement with Banque Saudi Fransi (BSF).
7) Saudi Electricity Co. slashed diesel usage by 14 million barrels in the first eight month of 2018, its CEO Ziyad Al-Shiha told Al-Eqtisadiah.
8) The Saudi market has remained resilient, despite the recent sell-off seen in many Emerging Markets across the world, Ibrahim Fatani, Head of Discretionary Portfolio Management, Deutsche Securities Saudi Arabia, a subsidiary of Deutsche Bank AG told Argaam.
9) Saudi Marketing Co.’s (Farm Superstores) board of directors recommended selling the company’s entire stake (99.5 percent) in its Lebanese subsidiary, Saudi Marketing and Trading Co., to chairman Hazem Al Aswad, for SAR 115.89 million.
10) A steady regional growth in petrochemical sectors among Arabian Gulf states will keep fuel demand strong over the coming decades, said a report by Fitch Solutions Macro Research, a unit of Fitch Group.
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