7 things to watch on Tadawul today

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

1) Saudi Telecom Co. (stc) appointed Olayan Mohammed Alwetaid as the group chief executive officer, starting March 28, 2021.

2) Abdullah A. M. Al-Khodari Sons Co. widened its net loss after Zakat and tax to SAR 1.59 billion in the fiscal year 2018.

3) National Agricultural Development Co. (NADEC) signed a non-binding memorandum of understanding (MoU) to form a consortium to jointly bid for acquisition of a flour mill.

4) The ban on Amlak International for Real Estate Finance Co.’s founding shareholders from selling shares was lifted on Jan. 12, 2021, six months after the stock began trading on the Saudi Stock Exchange (Tadawul) on July 13, 2020.

5) Walaa Cooperative Insurance Co.’s board of directors recommended increasing capital via a SAR 775 million rights issue.

6) Moody’s International Credit Agency affirmed the “Baa2” Insurance Financial Strength Rating (IFSR) of Malath Cooperative Insurance Co. with a ‘Stable’ outlook.

7) Brent crude on Wednesday gained 71 cents to reach $57.29 per barrel. WTI crude also increased 61 cents to reach $53.82/bbl.