10 things to consider as Tadawul starts trading

04/01/2018 Argaam
by Nadeshda Zareen

 

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

 

1) The seasonally adjusted Emirates NBD Saudi Arabia Purchasing Managers’ Index (PMI) fell to 57.3 during December, from 57.5 the previous month. However, the latest figure signals that the rate of expansion in the Kingdom’s non-oil sector remains high and above the average registered in 2017, the bank said in a statement.

 

2) Tadawul's major shareholders, who own 5 percent or more in any listed company, showed a sell-off tendency in 2017, with 45 major shareholders reducing their ownership and 17 cutting holdings to below 5 percent, a study by Argaam showed.

 

3) Saudi Arabia’s Passport General Department will impose a fine of up to SAR 50,000 on expatriates who own and operate private business illegally across the Kingdom, the state-run authority said on its Twitter account.

 

4) Arabian Aramco Total Services Company (AATSC) said its parent firm Saudi Aramco Total Refining and Petrochemical Company (SATORP) will conduct periodic maintenance activities for the refinery train 1 units starting January 8. The maintenance work is expected to last for 46 days.

 

5) Saudi Kayan Petrochemical Co. on Wednesday resumed operations at all plants, suspended for scheduled maintenance, the company said in a bourse statement.

 

6) Almarai Co. will get a Shariah-compliant facility amounting to $150 million from the International Finance Corporation (IFC) to support the dairy producer’s investments in Egypt, according to reports in the local media.

 

7) Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) has renewed its license with Saudi Arabia's Council of Cooperative Health Insurance (CCHI) for one year starting until Jan. 2, 2019.

 

8) National Medical Care Co.’s (Care) board of directors has appointed Iyad Al Husein as board chairman for the current three-year term that started on Jan. 1, 2018.

 

9) Saudi Pharmaceutical Industries and Medical Appliances Co. (SPIMACO) said its planned pharmaceutical plant in Morocco is set to be delivered by Q4 2018, instead of Q4 2017.

 

10) Crude oil touched a fresh high on Thursday as markets continue to tighten. Brent crude was last trading up 0.4 percent at $68.12/bbl, while WTI crude was up 0.7 percent at $62.07/bbl.

 

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

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