8 things to consider as Tadawul starts trading

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

1) Dar Al-Arkan Real Estate Development Co. has launched the SAR 600 million Mirabilia residential villas in the SAR 10 billion Shams Ar Riyadh Development, the Tadawul-listed developer said in a statement on Monday.

2) Saudi Marketing Co. (Farm Superstores) has opened a new branch in Riyadh, bringing its total number of branches to 78 in the Kingdom.

3) MetLife AIG ANB Cooperative Insurance Co. will deposit SAR 234,898 in proceeds from its fractional share sale in shareholders’ portfolios on June 3. In a separate statement, the insurer said that its accumulated losses have fell below 50 percent to SAR 21.27 million or 11.82 percent of capital.

4) Electrical Industries Co.’s general assembly has approved a 10 percent cash dividend for the fiscal year 2017, at SAR 1 per share, amounting to SAR 45 million.

5) Saudi Arabia's Public Investment Fund (PIF) and Japan's SoftBank Group Corp have started initial talks with banks about potential funding for a multi-billion-dollar solar power project planned in the Kingdom, Reuters reported, citing sources familiar with the matter.

6) Savage Saudi Arabia has delivered a total of seven locomotives and two locomotive booster units from the US to Saudi Arabia's Eastern and Northern Provinces, to support rail operations at Saudi Aramco and Maaden Wa'ad Al-Shamal Phosphate Company (MWSPC) facilities.

7) Aramco Products Trading Co. (ATC), a wholly-owned subsidiary of Saudi Aramco, has started supplying US condensate to the United Arab Emirates (UAE), Reuters reported on Monday, citing unnamed sources with knowledge of the matter.

8) Crude oil prices were up this morning, Brent crude was last up 0.06 percent at $78.28/bbl while WTI crude rose 0.03 percent to $70.98/bbl.