7 things you need to know on Tadawul today

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

1) Saudi Arabia’s King Salman and the US President Donald Trump signed joint agreements worth $280 billion that contribute to the transfer of knowledge and technology and boost the Kingdom’s domestic industry while providing thousands job opportunities in both countries.

2) Gulf Union Cooperative Insurance Co.’s general assembly approved on Thursday a 31.82 percent capital reduction to SAR 150 million. Tadawul said the fluctuation limits on Sunday for the insurer will be based on a share price of SAR 18.01, and the company will be suspended for two business days starting from Sunday, May 21.

3) Dar Al-Arkan Real Estate Development Co. has launched the sale of residential villas at its project Parisiana Living in Riyadh, the realty developer said in statement Sunday. 

4) Amana Cooperative Insurance Co. has appointed Sulaiman Hilal as chief executive for the company starting from May 21, 2017.

5) Saudi Stock Exchange (Tadawul) said it has delisted  Bishah Agricultural Development Co. shares, as end of Thursday May 18.

6) Saudi Ground Services Co. has recommended on Thursday a 6.5 percent cash dividend at SAR 0.65 per share for Q1-2017, to be paid on June 11, 2017.

7) Oil prices closed positive on Friday, gaining more than 5 percent over the week on reports that OPEC and non-OPEC producers are eyeing output deal extension. Brent crude rose 2.1 percent to close at $53.61/bbl and WTI crude added 2 percent to reach $50.33/bbl.