6 things to watch on Tadawul today

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

1) Saudi Arabia plans to increase state spending by more than 7 percent next year in an effort to spur economic growth, according to the 2019 budget released by the Ministry of Finance on Tuesday.

2) Advanced Petrochemical Co.’s board of directors has recommended a 7 percent cash dividend for the fourth quarter of 2018, at SAR 0.7 per share, amounting to SAR 137.8 million.

3) Jabal Omar Development Co.’s board of directors approved issuing new riyal-denominated sukuk in a private placement.

4) Bank Albilad’s board of directors recommended raising the lender’s capital by 25 percent from SAR 6 billion (600 million shares) to SAR 7.5 billion (750 million shares) through the issuance of one bonus share for every four shares held.

5) Middle East Healthcare Co. (Saudi German Hospitals) signed an amended Islamic financing agreement with Samba Financial Group.

6) Taiba Holding Co. announced that it is awaiting approval from the General Authority for Competition (GAC) on the acquisition of Al Aqeeq Real Estate Development Co. and Arab Resort Areas Co. (ARAC).