7 things to consider as Tadawul starts trading

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

1) National Commercial Bank (NCB) reported a net profit of SAR 2.56 billion for Q4 2017, up 12 percent year-on- year (YoY) on higher net income and lower operating expenses.

2) Al Yamamah Steel Industries Co. (Al Yamamah Steel) posted a net profit of SAR 6.7 million for three months ending December 31, marking a decline of 77 percent from the same period the previous year.

3) Rabigh Refining and Petrochemical Co. (Petro Rabigh) is expected to show stronger performance going forward, backed by improved production and operation of the Rabigh II project, chief executive Nasser Al-Mahasher told Argaam.

4) Taleem REIT Fund has extended its memorandum of understanding (MoU) with Al Rajhi United to acquire an educational property located in Riyadh until March 18, 2018.

5) Anaam Holding Co. has been urged to pay SAR 106.9 million in Zakat arrears and differentials for period 1995-2011, the company said.

6) Saudi Arabia's Saline Water Conversion Corporation (SWCC) is reported to have awarded a SAR 1.6 billion contract to South African GrahamTek Co. to build a desalination plant.

7) Crude oil prices recovered slightly on Wednesday after declines in the previous session. Brent crude was last trading up 0.7 percent at $67.35/bbl, while WTI crude rose 0.9 percent to $63.94/bbl.

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