7 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) Astra Industrial Group turned to a net profit of SAR 7 million in Q2 versus a net loss of SAR 10.6 million a year earlier, on the back of lower zakat, an increase in other income, and lower expenses.

2) Middle East Healthcare Co. (MEAHCO), operator of Saudi German Hospitals, reported a net profit of SAR 57.1 million for Q2 2017, a 23 percent year-on-year (YoY) decline.

3) Saudi Arabia’s Communications and Information Technology Commission (CITC) has shut down two of the biggest branches of Saudi Telecom Co (STC) and Etihad Etisalat Company (Mobily) in Riyadh for violations, the telecom regulator said in a statement on Thursday.

4) Red Sea Housing Services Co., a Dubai-based subsidiary of Red Sea International Co., has signed a memorandum of understanding with AECOM Middle East Ltd. to pursue housing projects in Saudi Arabia.

5) Saudi Research and Marketing Group (SRMG) said its wholly-owned subsidiary Taoq International Public Relations Co. has won a five-year contract to provide media and marketing services for a value of SAR 187 million annually.

6) Saudi Aramco plans to expand its main network for natural gas by the end of this year to meet rising demand, Aleqtisadiah newspaper reported.

7) Oil prices closed with gains on Friday. Brent crude rose 0.4 percent to $52.1/bbl and WTI crude added 0.5 percent to $48.82/bbl.

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com