5 things you need to know on Tadawul today

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

1) Marakez Al Raqia Ltd., a wholly owned subsidiary of AlBaha Investment & Development Co., has signed a memorandum of understanding with Ishraqah Regional Development & Real Estate Investment Co. to fully acquire partners’ stake at Ishraqah.

2) The board of directors of National Medical Care Co. (Care) has appointed Raed Al Tamimi as chief executive officer, starting August 28, 2017.

3) The Mediterranean and Gulf Insurance and Reinsurance Co. (MedGulf) has received approval from the Saudi Arabian Monetary Authority (SAMA) to reduce capital by SAR 600 million to SAR 400 million.

4) Makkah Municipality said it has launched construction works on its metro line. The first phase of the project runs over a total of 33 kilometers with 15 stations, mostly underground.

5) Crude oil prices were mixed on Monday, with Brent crude last up 0.3 percent at $52.57/bbl while WTI crude fell 0.4 percent to $47.69/bbl. Hurricane Harvey has led to the closure of ports and refineries in Texas, US.

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com