Here are a few things you need to know as Saudi stocks start trading on Sunday.
1) Moody's Investors Service has upgraded Saudi Telecom Company's (STC) long-term issuer rating to “A1” from “A2”, with a stable outlook.
2) Jeddah-based Islamic Development Bank (IDB) plans to raise a $1.5 billion from a five-year Sukuk issue, Al-Eqtisadiah newspaper reported.
3) Mobile Telecommunications Co. Saudi Arabia's (Zain Saudi) decision to sell its telecom towers had no financial impact on Q1 2019 financial results, CEO Sultan Al Deghaither told CNBC Arabia.
4) Maaden Marketing and Distribution, wholly-owned by Saudi Arabian Mining Company (Maaden), has signed a deal to acquire 85 percent of Mauritius-headquartered Meridian Group.
5) Knowledge Economic City (KEC) is likely to turn profitable this year, the company's chairman said in the annual board report.
6) Etihad Etisalat Co.’s (Mobily) shareholders are set to vote on the merger with Bayanat Telecom Co. during the extraordinary general assembly meeting to be held on May 14, 2019.
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