8 things to watch as Tadawul starts trading

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

1) Non-oil growth in Saudi Arabia registered a modest growth in the first half of 2017, the International Monetary Fund (IMF) said in a recent report.

2) Saudi Research and Marketing Group’s extraordinary general assembly approved on Sunday updated bylaws and rules of board committees, policies for board membership, and remunerations of board members. 

3) Al Jouf Agricultural Development Co. general assembly approved on Sunday updated bylaws and rules of the remunerations and nominations committee, as well as policies for board membership and remunerations of board members and top executives.  

4) The Mediterranean and Gulf Insurance and Reinsurance Co. (MedGulf) has submitted a request to the Saudi based Bank Muscat to liquidate the SAR 122 million guarantee, which was received from its affiliate MedGulf Bahrain.

5) Saudi Arabian Mining Co. (Maaden) said its subsidiary Maaden Aluminium has signed financing agreements worth SAR 6.68 billion ($1.78 billion) with 14 commercial banks and financial institutions, to replace its existing debt.

6) Saudi Chemical Co.’s board of directors has recommended a 10 percent cash dividend for the third quarter of 2017, to be issued at SAR 1 per share, amounting to SAR 63.24 million.

7) Saudi Basic Industries Corporation (SABIC) has set January’s monoethylene glycol (MEG) Asian Contract Price (ACP) nomination at $1,070/tonne, which is $20/tonne higher when compared to December.

8) Oil prices were up this morning, with Brent crude rising 0.2 percent to reach $63.35/bbl, while WTI crude rose 0.2 percent to $57.40/bbl.