8 things to consider as Tadawul starts trading

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

1) Saudi Arabia’s ministry of finance has approved finance for 12 health, education and hotel projects with SAR 851 million worth of loans, Saudi Press Agency (SPA) reported.

2) Royal Commission for Jubail and Yanbu (RCJY) has signed 30 agreements worth more than SAR 18 billion to allocate sites for industrial and commercial investment projects in Jubail, Yanbu and Ras Al Khair.

3) Saudi Arabia’s General Authority of Zakat and Tax (GAZT) will start on January 1 imposing penalties on businesses that have not registered for the tax in due time.

4) Mulkia Gulf Real Estate Fund signed on Monday an agreement with Bank Albilad to obtain SAR 300 million shariah-compliant facilities, with five-year duration, to finance its expansion plans.

5) Alawaal Bank’s board of directors has recommended a cash dividend of 2.5 percent (SAR 0.25 per share) for the fiscal year 2017.

6) Mouwasat Medical Services Co. (Mouwasat) has signed a construction contract worth SAR 205 million with Project Build Co. Ltd. (PBC) to build its new branch in Madinah, the firm said in a statement to Tadawul.

7) Jadwa REIT Al Haramain Fund completed on Sunday the acquisition of two properties worth SAR 148 million in Makkah.

8) Oil prices were steady on Tuesday, with Brent crude holding near a two-year high as OPEC-led output cut deal continued to drive the positive outlook on demand. The benchmark grade was last trading slightly higher at $65.26/bbl, while WTI crude rose 0.1 percent to $58.53/bbl.

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