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) Analysts expect Saudi Arabia— which will release its 2018 budget today — to post an average fiscal deficit of SAR 196 billion for this year, before shrinking to SAR 161 billion in 2018.

2) Saudi Arabian Mining Co. (Maaden) said its subsidiary Maaden Aluminium Co. has signed an agreement with the Public Investment Fund (PIF) to amend the terms of its existing loan. The SAR 4.275 billion loan will be repaid over a period of 14 years in 18 semi-annual scheduled installments, starting March 31, 2023.

3) Aljazira Mawten REIT will pay a 2.5 percent cash dividend (SAR 0.25 per share) for the first half of 2017 on Dec. 21, 2017, the REIT said in a bourse statement.

4) Solidarity Saudi Takaful Co. has canceled its marketing contract with Holding Co. for Insurance agency as of Dec. 18, 2017, it said in a statement to Tadawul.

5) Knowledge Economic City Co. (KEC) has signed real estate consultation agreements with Riyad Capital and Alinma Capital. Riyad Capital will conduct feasibility and investment studies for KEC, while the deal with Alinma Capital aims to update KEC’s strategic business plans concerning various projects.

6) The Central Bank of Kuwait has approved Al Rajhi Bank’s request to open its second branch in the country, effective Dec. 12.

7) Al Yamamah Steel Industries Co. expects to see lower revenues in the coming fiscal year, due to the ongoing slowdown in the construction industry, the firm said in its board report for the fiscal year ending September 2017.

8) Abdullah Al Othaim Markets Co. has opened its 35th branch in Egypt. The 350 square-meter store is located in Nasr City in Cairo.

9) Oil prices edged higher on Tuesday. Brent crude was last up 0.1 percent at $63.47/bbl, while WTI crude rose 0.2 percent to $57.29/bbl.

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