9 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) Saudi Stock Exchange (Tadawul) said it has delisted Mohammad Al Mojil Group’s shares as of the end of Sunday, May 7, 2017. 

2) Mouwasat Medical Services Co. reported a net profit of SAR 85.1 million for the first quarter of this year, a 24.2 percent rise year-on-year (YoY) on an increase in revenue and effective utilization of resources.

3) Al Khaleej Training and Education Co. will pay SAR 0.5 per share cash dividend for fiscal year 2016 on May 15.

4) Al Ahli Takaful Co.’s shareholders approved on Sunday SAR 0.5 per share cash dividend to be paid on May 21.

5) The National Shipping Company of Saudi Arabia (Bahri) has signed a memorandum of understanding (MoU) with Hyundai Heavy Industries (HHI Group) to cooperate on big data and technology innovation.

6) Dur Hospitality Co. reported a net profit of SAR 24.6 million for the first quarter of this year, a 22.2 percent drop year-on-year (YoY) mainly due to lower revenue on fierce competition and decreased demand.

7) Saudi United Cooperative Insurance Company (Walaa Insurance) has received a three-year health insurance certification from Saudi Arabia’s Council of Cooperative Health Insurance, effective May 4.

8) Saudi Industrial Exports Co. reported a net loss of SAR 3.3 million for the first quarter of this year, compared to a loss of SAR 1.6 million in the same period last year.

9) Oil prices rose on Monday, after Saudi Arabia’s energy minister Khalid Al Falih said he expected OPEC’s six-month output cut agreement to be extended into the second half of the year and possibly beyond. Global benchmark Brent crude was last up 1.3 percent at $49.75 per barrel (bbl), while West Texas Intermediate rose 1.2 percent to $46.79/bbl.