7 things to watch on Tadawul today

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

1) Global index provider FTSE Russell launched a bond index for Saudi Arabia to measure the performance of fixed-rate, local currency government bonds.

2) Goldman Sachs Saudi Arabia completed all regulatory and technical requirements to become a member of Tadawul.

3) Salama Cooperative Insurance Co. reported net profit before Zakat of SAR 6.4 million for the first six months of 2020.

4) Buruj Cooperative Insurance Co. received a letter from the Saudi Arabian Monetary Authority (SAMA) informing the ban on CEO Samer Kanj, and CFO Samer Saad, from exercising their job duties as of Aug. 26, 2020.

5) The board of directors of Mobile Telecommunications Co. Saudi Arabia (Zain Saudi) decided to amend its recommendation to cut capital by 23% from previously-announced 28%.

6) Allied Cooperative Insurance Group’s (ACIG) shareholders approved, on Aug. 26, a 29.5% capital cut to SAR 141 million from SAR 200 million.

7) Brent crude on Friday gained 21 cents to reach $45.81 per barrel whereas WTI Crude decreased 7 cents to reach $42.97/bbl.