9 things you need to know on Tadawul today

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

1) The Emirates NBD Saudi Arabia Purchasing Managers’ Index (PMI) declined to 54.3 in June, which is the slowest rate of expansion since October 2016.

2) Al Tayyar Travel Group’s move to launch a real estate investment trust (REIT) is aimed at converting some of its projects that have already started operations to current assets, according to chief executive Abdullah Al Dawood.

3) Saudi Indian Company for Cooperative Insurance (Wafa Insurance) said it has received the Saudi Arabian Monetary Authority’s approval to issue auto insurance policies to new subscribers starting July 4.

4) Saudi Electricity Co., the Gulf’s largest utility, has denied news that it has raised power tariffs across the Kingdom.

5) Saudi Stock Exchange (Tadawul) rose 3 percent in the first half of this year, data compiled by Argaam showed. Trading volumes fell 37 percent in the same period.

6) Saudi Arabian Monetary Authority is reported to have said that measures would be taken against insurance companies that fail to implement Saudization rates.

7) Saudi Arabia’s non-oil exports rose 2 percent year-on-year to SAR 14.5 billion in April 2017, data from the General Authority for Statistics showed.

8) Saudi Arabia's trade balance recorded a surplus of SAR 23.62 billion in April 2017, compared to a surplus of SAR 8.4 billion in the same month last year, General Authority for Statistics data showed.

9) Oil prices edged lower on Tuesday. Brent crude was last down 0.5 percent at $49.41/bbl and WTI crude fell 0.5 percent to $46.83/bbl.

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com