Here are a few things you need to know as Saudi stocks start trading on Thursday.
1) The Saudi Stock Exchange (Tadawul) has approved a request by the Ministry of Finance to list and trade SAR 2 billion in local-currency government debt instruments today, Nov. 22, 2018.
2) The Capital Market Authority has approved Amana Cooperative Insurance Co.’s request to raise its capital to SAR 240 million from SAR 140 million.
3) Al Tayyar Travel Group incurred net losses of SAR 355 million in Q3 2018 on impairment charges and higher operating expenses, Falcom Financial Services said in an earnings review.
4) National Medical Care Co. (Care) reported a 15 percent decline year-on-year (YoY) in Q3 2018 revenue to SAR 176.4 million; the lowest level in more than four years, due to a client claim settlement, data compiled by Argaam showed.
5) Rabigh Refining & Petrochemical Co.’s (Petro Rabigh) Q3 net profit plunged 65.6 percent year-on-year (YoY) to SAR 243 million as refining activities incurred losses for the third consecutive quarter.
6) United Electronics Company (eXtra) announces that it has obtained the Saudi Arabian Monetary Authority preliminary approval to establish a ‘Shariaa Compliant’ Closed Joint Stock Consumer Finance Company regulated by the Finance Companies Control Law and its Implementing Regulations.
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