Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) Buruj Cooperative Insurance Co.’s shareholders approved on Monday a 20 percent capital hike to SAR 300 million from SAR 250 million, through bonus shares (one bonus share for every five shares).
2) Saudi International Petrochemical Co. (Sipchem) is planning a 41-day shutdown of its International Diol Co.’s plant for scheduled maintenance starting Jan. 15, 2019.
3) Jabal Omar Development Co. and Abu Dhabi Financial Group's (ADFG) Northacre on Tuesday signed a memorandum of understanding (MoU) for collaboration and partnerships in realty projects.
4) eBaoTech, a global digital insurance solution provider on Monday announced that Saudi Arabia’s Wataniya Insurance Company has launched eBaoTech's microservices and cloud-native based 4G insurance platform as its policy administration system.
5) Saudi Arabia's Cabinet said proven oil and gas reserves confirmed the Kingdom's global role as a "secure oil supplier" in the long term.
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