8 things you need to know on Tadawul today

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

1) Middle East Healthcare Co. (MEAHCO) sealed on Thursday an Islamic Tayseer facility at a total value of SAR 100 million with National Commercial Bank (NCB). The company has also inked an agreement with Bait Al Batterjee Medical Co., a related party, to handle administrative supervision of six under-construction hospitals outside the kingdom.

2) Jarir Marketing Co. expects its profit to grow by almost 5 percent this year amid the current market conditions and lower purchasing power, according to the company’s annual board report.

3) Basic Chemical Industries Co.’s (BCI) board of directors has recommended a 10 percent cash dividend (SAR 1 per share) for fiscal year 2016, the company said in a statement to Tadawul on Sunday.

4) The Mediterranean and Gulf Insurance and Reinsurance Co. (MedGulf) received on Thursday regulatory approval to issue new auto insurance policies and renew existing ones, starting today.

5) Saudi Arabian Amiantit Co. (Amiantit) is planning to let go of around 402 of its employees in the kingdom this year as part of cost-cutting measures, the company said in its annual board report.

6) Bank loans issued to Saudi Arabia’s private sector and public, non-financial institutions rose 2 percent year-on-year (YoY) to SAR 1.45 trillion in January, new figures released by the Saudi Arabian Monetary Authority (SAMA) showed.

7) Saudi Arabia’s Purchasing Managers’ Index (PMI) rose to 57 in February, the highest reading since August 2015 due to a sharp rise in new orders and output, Emirates NBD said in its latest PMI report.

8) Oil prices eased on Monday on concerns over non-OPEC members’ compliance to the output curb deal. Both Brent crude and WTI crude were down 0.3 percent and 0.4 percent at $55.7/bbl and 53.1/bbl, respectively.