Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) Development Works For Food Co. reported a net profit after zakat and tax of SAR 3.7 million for the first half of 2019, an 8.1 percent year-on-year (YoY) decline on higher general and administrative (G&A) expenses driven by higher government fees.
2) Najran Cement Co.’s newly-elected board of directors have reappointed Mohammed bin Manaa Aballala (non-executive member) as chairman.
3) National Company for Learning and Education (NCLE) has appointed Khaled Al Khudair as chairman of the board of directors and Ibrahim bin Abdelrahman as vice chairman, effective immediately.
4) Shareholders of Riyad Bank will vote on electing a new board of directors for the next three-year term, starting Oct. 31, 2019, at the upcoming general assembly meeting on September 30.
5) Saudi Automotive Services Co. (SASCO) has signed a Sharia-compliant credit facility agreement with National Commercial Bank (NCB) at a total value of SAR 166.3 million.
6) Brent crude on Wednesday gained 11 cents to reach $58.37 per barrel whereas WTI Crude also increased 20 cents to reach $54.14/bbl.
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