9 things to watch on Tadawul today

Here are a few things you need to know as Saudi stocks start trading on Wednesday.

1) Saudi Aramco has the financial strength to accelerate its downstream strategy by continuing to invest in the petrochemicals market despite the impact of COVID-19 on global economies, said Abdulaziz Al-Gudaimi, Senior Vice President of Downstream.

2) Saudi Chemical Holding Co. recently completed the transformation program of its holding company and established 2 strategic business units.

3) United International Transportation Co. Ltd. (Budget Saudi) will pay cash dividend for H2 2019 on July 1, 2020.

4) Saudi Automotive Services Co.’s (SASCO) shareholders approved the board’s recommendation to distribute a 10% cash dividend for FY 2019.

5) AlAhli REIT Fund (1) completed the acquisition and title deed transfer of a two-floor office complex in Riyadh, according to the fund manager, NCB Capital.

6) Aldrees Petroleum & Transport Services Co. (Aldrees) received the renewal of the qualification certificate for the management, operation and maintenance of fuel stations and service centers on highways and regional roads for 3 years.

7) SEDCO Capital, the fund manager for SEDCO Capital REIT Fund, signed, on June 22, a Shariah-compliant hedging contract with Al Rajhi Bank, to keep the annual financing charges at a fixed rate of 1.43%.

8) Salama Cooperative Insurance Co. received on June 22 a letter from the Saudi Arabian Monetary Authority (SAMA) canceling the no objection on the nomination of three board members.

9) Brent crude declined 22 cents to reach $42.41 per barrel, while WTI Crude fell 30 cents to reach $40.09/bbl on Wednesday morning.