9 things to consider as Tadawul starts trading

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

1) Talks of merger between Alawwal Bank and Saudi British Bank (SABB) are at an advanced stage and a preliminary share exchange ratio been agreed.

2) Saudi Indian Company for Cooperative Insurance (Wafa Insurance) has filed for regulatory approval of its planned 50 percent capital reduction.

3) Shareholders of National Commercial Bank approved the board’s recommendation of a 50 percent capital hike to SAR 30 billion from SAR 20 billion, through issuance of bonus share.

4) Zahrat Al Waha for Trading Co. has renewed a SAR 144.1 million Sharia-compliant credit facility with Arab National Bank (ANB).

5) National Commercial Bank (NCB) appointed Faisal Omar Alsakkaf as acting chief executive officer after accepting the resignation of Saeed Mohammed Al Ghamdi.

6) S&P Global Ratings affirmed its ‘BBB+’ rating on Saudi Re for Cooperative Insurance Co. with a stable outlook.

7) Saudi Arabia’s holdings of US Treasuries stood at $115.2 billion, a rise of $300 million month-on-month in March, reaching its highest level since July 2015, US Treasury data revealed.

8) Egyptian government submitted a request to the Saudi Arabian Monetary Authority (SAMA) to obtain licenses and open two branches for Banque Misr and the National Investment Bank.

9) The outlook for Saudi real estate market remains "positive" over the long term despite its weak performance in the past two years, according to Falcom Financial Services.