8 things to watch on Tadawul today

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

1) Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) reported a net profit before Zakat of SAR 132 million in the first six months of 2020.

2) Saudi Aramco’s ownership in major petrochemical producer SABIC, Rabigh Refining and Petrochemical Company (Petro Rabigh), National Shipping Company of Saudi Arabia (Bahri) and Saudi Electricity Co. (SEC) are now subject to Zakat.

3) Arabian Shield Cooperative Insurance Co. reported a net profit before Zakat of SAR 16.8 million for H1 2020, a 98% year-on-year (YoY) increase.

4) Samba Financial Group received a license from Dubai Financial Services Authority (DSFA) to operate as an authorized firm from the Dubai International Financial Centre (DIFC).

5) Jarir Marketing Co.’s board of directors recommended a 17% cash dividend for the second quarter of 2020, at SAR 1.7 per share, amounting to SAR 204 million.

6) Mulkia Gulf Real Estate REIT Fund reported a 70% drop YoY in profit to SAR 6 million (SAR 0.09/unit) for H1 2020.

7) Al-Ahlia Insurance Co. and Gulf Union Cooperative Insurance Co. received a no-objection letter on their merger deal from the Saudi Arabian Monetary Authority (SAMA).

8) Brent crude on Wednesday gained 20 cents to reach $44.70 per barrel. WTI Crude also increased 11 cents to reach $41.72/bbl.