7 things you need to know on Tadawul today

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

1) The National Shipping Company of Saudi Arabia (Bahri) has taken delivery of the second Very Large Crude Carrier (VLCC) from South Korea’s Hyundai Samho Heavy Industries Co., the company said in a statement to Tadawul on Monday.

2) Rabigh Refining and Petrochemical Co.’s (Petro Rabigh) Rabigh Phase II project has started to produce thermoplastic olefin (TPO), the firm said in a statement.

3) The Capital Market Authority (CMA) has approved Osool & Bakheet Investment Co.’s request to offer, register and list units of the AlMa'athar Real Estate Investment Traded Fund (REIT) on the Saudi Stock Exchange (Tadawul).

4) Red Sea International Co. has extended a joint venture agreement between one of its subsidiaries and Brazil-based Direcional Engenharia S.A for two years as of Feb. 2, 2017, the company said in a statement to Tadawul on Monday.

5) National Medical Care Co. inked on Monday a SAR 255.9 million contract with national guard ministry to provide inpatient services for King Abdul Aziz Medical City’s patients who need modest medical services for long periods.

6) Gulf Union Cooperative Insurance Co. said it has offset its accumulated losses of SAR 73.6 million in full due to the capital reduction. The company realized retained earnings of SAR 17.6 million from the process.

7) Crude oil prices edged higher on Tuesday, with Brent crude up 0.6 percent at $48.57/bbl while WTI crude rose 0.5 percent to $46.32/bbl.