Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) Repair works at National Petrochemical Industrial Co.’s (NATPET) plant in Yanbu are going according to plan, after the facility witnessed a fire incident in October, according to a statement from Alujain Corp.
2) The Saudi Arabian Monetary Authority (SAMA), the Kingdom’s central bank and insurance market regulator, issued a “final warning” to Al Sagr Cooperative Insurance on the insurer’s non-compliance with regulations.
3) Dur Hospitality Co. signed a binding agreement to acquire 60 percent stake in Jeddah-based Shada Homes Co. for a value of SAR 61.2 million.
4) The National Commercial Bank’s (NCB) net profit rose 8.8 percent year-on-year (YoY) to SAR 10.7 billion for fiscal year 2018 on higher operating income and lower total operating expenses.
5) Jabal Omar Development Company plans to expand to Jeddah and Madinah, especially in terms of off-plan sales, CEO Yasser Al-Sharif, said in an interview.
6) The Capital Market Authority (CMA) has approved the public offering of the Aljazira USD Murabaha Fund by Aljazira Capital.
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