10 things to watch today as Tadawul starts trading

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

1) Saudi Aramco, in partnership with the National Shipping Company of Saudi Arabia (Bahri), Lamprell PLC, and Hyundai Heavy Industries, has launched a marine industries joint venture, the official Saudi Press Agency (SPA) reported.

2) Yanbu National Petrochemical Co. (YANSAB) board of directors has recommended a cash dividend of 17.5 percent (SAR 1.75 a share), totaling to SAR 984.37 million for the second half of 2017.

3) National Metal Manufacturing & Casting Company’s (Maadaniyah) board of directors has recommended a 2.5 percent cash dividend for the fiscal year 2017, at SAR 0.25 per share, amounting to SAR 7.03 million.

4) Riyad Bank’s board of directors has recommended a 3.8 percent cash dividend for the second half of 2017, at SAR 0.38 per share, amounting to SAR 1.14 billion.

5) Abdulmohsen Al Hokair Group for Tourism and Development Co. (Al Hokair Group) has opened two entertainment centers – one in Taif and another in Al Khobar – under the Al Hokair Time brand name, the company said in a bourse statement.

6) Asharqiyah Development Co.’s board of directors appointed managing director Mohammed Al-Ramah as acting chief executive officer (CEO).

7) Mulkia-Gulf Real Estate REIT Fund said it will apply a 5 percent value-added tax (VAT) to the fund’s taxable services, based on the VAT executive regulations.

8) The Capital Market Authority (CMA) has approved Jadwa Investment Company and Swicorp Company’s request to offer, register, and list units of the Jadwa REIT Saudi Fund and Swicorp Wabel REIT, respectively, on the Saudi Stock Exchange (Tadawul).

9) The Saudi Arabian Monetary Authority (SAMA) has lifted the ban on  Saudi Indian Company for Cooperative Insurance (Wafa), allowing the insurer to issue new auto insurance policies and renew existing ones starting December 28.

10) Oil prices closed last week, and the year, on a positive note amid signs of a tightening market. Brent crude rose 1.1 percent to $66.87/bbl, and WTI crude added nearly 1 percent to reach $60.42/bbl.

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