6 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 Arabian Amiantit Co.’s board of directors has appointed Khalil A. Kordi as deputy chairman of the board of directors effective September 14, 2017. The decision came after the company’s former deputy chairman and board member, Prince Turki Al Saud, submitted his resignation on September 14 following his appointment as a consultant at the Royal Court of Saudi Arabia.

2) Zahrat Al Waha for Trading Co.’s shares will be listed on the Saudi Stock Exchange (Tadawul) today.

3) Saudi Basic Industries Corp. (SABIC) held its fourth position on ICIS top 100 petrochemical companies in 2016, for the second consecutive year.

4) Saudi Arabian Oil Co. (Saudi Aramco) said the planned initial public offer (IPO), originally set for the second half of 2018, remains on track, a Reuters report said.

5) The diplomatic dispute between Qatar and some other GCC countries is credit negative for the entire region, particularly Qatar and Bahrain, Moody’s Investor Service said in a report.

6) Oil prices closed last week in the positive zone. Brent crude rose 0.3 percent to $55.62/bbl, while WTI crude was in the green at $49.89/bbl.

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