5 things to watch on Tadawul today

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

1) MEFIC Capital, MEFIC REIT Fund manager, said it has waived its management fees for all the units subscribed to the fund for one year starting from the units listing date.

2) Abdullah Al Othaim Markets Co. will open a new store in Qurtubah neighborhood in Riyadh today.

3) Shares of Aldrees Petroleum and Transport Services Co. and Saudi Automotive Services Co. (SASCO) hit their highest level in 52 weeks on Tuesday, data compiled by Argaam showed. 

4) The Mediterranean and Gulf Insurance and Reinsurance Co. (MEDGULF) has signed a contract with Saudi Electricity Co. (SEC) at a total value exceeding SAR 570 million.

5) Saudi Arabia’s economic growth is set to rise to 2.2 percent and 2.4 percent in 2018 and 2019 respectively, the International Monetary Fund (IMF) said on Tuesday.