9 things to consider as Tadawul starts trading

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

1) Saudi monarch King Salman said on Tuesday that the Kingdom will continue to fight corruption and improve oversight of its public finances.

2) Saudi Arabia’s total expenditure will likely exceed SAR 1.1 trillion in 2018, Crown Prince Mohammed bin Salman said.

3) Saudi Arabia’s tax revenues are expected to increase by around SAR 45 billion to SAR 142 billion in 2018 compared to 2017, figures included in 2018 budget showed.

4) Saudi Arabia has extended its timeline for the lifting of energy subsidies, pushing back the target to ensure that fuel prices compare to international levels to 2025 from 2020.

5) National Industrialization Co. (Tasnee) has scheduled a general assembly on Dec. 31 to vote on the deal between National Titanium Dioxide Ltd. (Cristal) and NYSE-listed Tronox Ltd.

6) Mediterranean and Gulf Insurance and Reinsurance Co. (MedGulf) has received a bank guarantee worth SAR 122 million from Bank Muscat (Saudi branch).

7) Saudi Basic Industries Corp.’s (SABIC) new polypropylene (PP) extrusion facility in Geleen, The Netherlands, is now fully operational, the company said in a statement.

8) Kingdom Holding Co. has appointed Khalid Al Souhem as vice-chairman of its board of directors.

9) Oil prices edged lower on Thursday, with Brent crude last down 0.3 percent at $64.4/bbl, while WTI crude fell 0.1 percent to $58.02/bbl.

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