8 things to consider as Tadawul starts trading

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

1) There is no delay in launching the initial public offering (IPO) of state oil giant Saudi Aramco, Crown Prince Mohammed bin Salman said in an interview with Time magazine. It is a matter of choosing the right time, he said.

2) Standard & Poor’s Global Ratings has affirmed Saudi Arabia’s long- and short-term ratings at “A-/A-2” with a stable outlook.

3) Saudi Arabia’s economy returned to positive growth in Q1 2018, following the downturn that had deepened towards the end of last year, Capital Economics said in a recent report.

4) The National Shipping Company of Saudi Arabia (Bahri) has transported the first chemical shipment from Aramco Trading Company (ATC) via Bahri chemical tanker NCC Amal, a 45,000 DWT chemical tanker, which left Port of Rabigh heading to China.

5) Bank Aljazira’s rights issue was 89.89 percent subscribed, with investors buying a total of 269.66 million shares worth SAR 2.69 billion, the bank said in a statement.

6) Qassim Cement Co. has received a one-year export license from Saudi Arabia’s Ministry of Commerce and Investment, the company said in a statement.

7) Saudi Marketing Co. (Farm Superstores) has opened a new branch in Qatif, bringing its total number of branches to 77 in the Kingdom.

8) Crude oil prices closed last week in the red amid reports that both the US and China are considering new or higher import duties on the others products. Brent crude fell 1.8 percent to $67.11/bbl while WTI crude lost 2.3 percent to close at $62.06/bbl.

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