8 things you need to know before Tadawul opens

Here’s what you need to know before the opening bell rings at the Saudi Stock Exchange (Tadawul) on Tuesday.

1) Oil prices rose on Tuesday as the US dollar gave up earlier gains, while news that Iran’s oil minister will participate in an informal OPEC meeting next month also helped support prices. Brent crude last traded 0.3 percent higher at $49.39 per barrel (bbl). WTI crude edged up 0.4 percent to $47.16/bbl.

2) Asian stocks seesawed as investors remained unsure of when the US Federal Reserves may end up hiking interest rates. Japan’s Nikkei index slipped 0.10 percent, as markets neared closing hours on Tuesday. China’s CSI 300 index edged up 0.4 percent.

3) Saudi Arabia’s general reserves stood at SAR 619.1 billion in July, unchanged from the previous month, according to data from the Saudi Arabian Monetary Agency (SAMA), the kingdom's central bank.

4) Bank loans issued to the kingdom’s private sector rose 7 percent year-on-year (YoY) in July to SAR 1.43 trillion, according to SAMA’s monthly report. Loans to the public sector were up 17 percent YoY to SAR 44.8 billion.

5) The Saudi government’s planned sale of US dollar dominated international bonds is expected to have a positive impact on the kingdom's banking sector as it's expected to reduce pressure on local liquidity, Albilad Capital said in a new report.

6) Saudi Electricity Co. (SEC), the Gulf’s largest utility firm, said it will sign seven memorandums of understanding (MoUs) with Chinese and Japanese firms during Saudi Deputy Crown Prince Mohammed bin Salman's visit to the Asian countries this week.

7) Hail Cement Co. said it will pay a cash dividend of SAR 0.5 per share for H1-2016 on September 21.

8) Al Ahlia for Cooperative Insurance Co. obtained on Monday the Saudi Arabian Monetary Agency’s (SAMA) approval for a 50 percent capital reduction from SAR 320 million to SAR 160 million.