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) There is a need to act on guardianship customs for women in Saudi Arabia, and the country needs to treat this in a way that “doesn’t harm families and doesn’t harm the culture,” Crown Prince Mohammed bin Salman said in an interview with US news magazine The Atlantic.

2) International Maritime Industries Co. has signed a financing deal worth SAR 3.75 billion with the Saudi Industrial Development Fund to fund the King Salman International Maritime Industries & Services’ project in Ras Al-Khair.

3) Swicorp Wabel REIT offers investors the highest net return at 7.7 percent, compared to local peers with average net yields of 7.19 percent, based on their market prices that dropped below SAR 9.00, Saud Al-Tassan, chief executive of Swicorp, told Argaam.

4) Almarai Co. has raised its stake in Pure Breed Poultry Co. by 14 percent for SAR 20.3 million, bringing the dairy producer’s holdings in the company to a controlling stake of 55.9 percent.

5) Shareholders of Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) will vote on the board of directors’ recommendation to distribute a 10 percent cash dividend (SAR 1 per share) for the fiscal year 2017 in the general assembly meeting on April 19.

6) National Gas & Industrialization Co. (GASCO) renewed an agreement worth SAR 59.3 million for one year with its 37.57 percent-owned affiliate, Saudi Gas Cylinder Factory, to manufacture cylinders and gas tanks.

7) Crude oil prices declined on Wednesday, with Brent crude last down 0.4 percent at $67.88/bbl while WTI crude fell 0.3 percent to $63.32/bbl.