5 things you need to know on Tadawul

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

1) The National Shipping Company of Saudi Arabia (Bahri) expects rates of very large crude carriers (VLCCs) to stabilizeat slightly better levels in Q4 2017, Reuters reported on Thursday, citing Hisham Al-Nughaimish, vice president for commercial and operations of its oil unit.

2) The General Authority of Zakat and Tax (GAZT) approved last Thursday executive regulations of the value-added tax (VAT) ahead of its introduction in the Kingdom on Jan. 1, 2018, the authority said in a statement.

3) The Mediterranean and Gulf Insurance and Reinsurance Co.’s (MedGulf) general assembly approved a 60 percent capital cut from SAR 1 billion to SAR 400 million. Tadawul said fluctuation limits will based on a price of SAR 31.60 per share and the company will be suspended from trading for two business days starting today.

4) Saudi Vitrified Clay Pipes Co.’s (SVCP) board of directors has recommended a SAR 1.5 per share cash dividend for H1 2017. The board also elected members for the upcoming three-year term that begins on Oct. 18.

5) Oil prices were little changed on Monday. Brent crude for November delivery was down 0.2 percent at $56.77 per barrel (bbl), while WTI was 0.3 percent lower at $50.51/bbl.