Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) The Saudi Stock Exchange (Tadawul) approved a request from the Ministry of Finance to list debt instruments reissuance worth SAR 4.78 billion today.
2) The Saudi Ministry of Finance’s planned “centralized” procurement unit will help coordinate purchases of commonly-used goods and services across government bodies, thus ensuring higher efficiency and more competitive prices, said Finance Minister Mohammed Al-Jadaan.
3) Alinma-Al Akaria Fund for Real Estate Development will develop a 10,000 square meter mixed-use project to serve the business sector, Al Akaria’s CEO Mamdouh Saud Al-Sharhan told CNBC Arabia.
4) Al Rajhi REIT Fund signed a SAR 500 million Shariah-compliant financing facility agreement with Al Rajhi Bank, fund manager Al Rajhi Capital said.
5) Almarai Co.'s board of directors approved the establishment of a risk committee to strengthen its governance.
6) Saudi Research and Marketing Group (SRMG) launched “Almall” (The Mall), a new e-commerce app that serves as a platform for both top international and local brands to sell their products.
7) Al Jouf Cement Co. on Sept. 30 shipped its first export cargo to Yemen, sending out 9,000 tons of cement after completing the required procedures.
8) The Saudi Ministry of Labour and Social Development launched 68 initiatives to boost Saudization rates in the private sector, said Minister of Labor Ahmed Al-Rajhi.
9) Oil markets held firm on Tuesday, with Brent crude prices holding near four-year highs. Benchmark Brent was up 04 cents at $85.02/bbl, while WTI crude rose 22 cents to $75.52/bbl.
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