8 things you need to know on Tadawul today

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

1) Saudi Arabia Purchasing Managers’ Index (PMI) rose to 57.0 in February from 56.7 in January, the highest reading since August 2015, Emirates NBD said in its latest report. Both output and new orders rose sharply last month. New order growth accelerated at its fastest rate in a year-and-a-half, boosted by higher new export orders. Firms also cited new projects, promotional activity, and underlying demand in the kingdom.

2) Capital Economics said in a recent report that the kingdom is unlikely to face a long period of deflation. The London-based consultancy said slow economic growth and a stronger US dollar mean that underlying price pressures will remain subdued over the coming years.

3) The Saudi Capital Market Authority (CMA) approved on Sunday Atheeb Telecom’s request to reduce its capital from SAR 1.57 billion to SAR 630 million.

4) Medgulf said that the Saudi Arabian Monetary Authority (SAMA) will allow the insurer to accept new clients on its auto coverage policies, starting today.

5) The board of Al Saqr Coopertive Insurance has proposed issuing a SAR 2/share dividend for fiscal year 2016 on 25 million eligible shares, the company said in a statement today.

6) Saudi Electricity Co. (SEC) has been exempted from paying a 2 percent power consumption fee to the municipalities by virtue of a royal decree on Monday, the utility firm said on Thursday.

7) Al Tayyar Travel Group on Thursday said that it did not ink any deals with Hajj and Umrah operators in Indonesia during King Salman’s nine-day visit to the Asian country. Al Tayyar’s statement came after Saudi news channel Alekhbariah reported that the company had already signed off on the agreements.

8) Last week, King Salman signed a number of  business and cooperation agreements with Indonesia's president during his visit to the world's largest Muslim-majority country.