6 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 is redoing its reform plan to revamp its government and economy by 2020, after the previously launched plan overlapped with other programs, Bloomberg reported.

2) Saudi Arabia has suspended further dialogue with Qatar, accusing it of “distorting facts” after the Qatar News Agency reported of a phone call between the Crown Prince Mohammed bin Salman and Qatar’s Emir Sheikh Tamim bin Hamad al-Thani on Friday, describing it as a breakthrough in the Gulf dispute.

3) Saudi-listed supermarket chain Abdullah Al Othaim Markets Co. opened its 29th store in Egypt, it said in a statement.

4) Saudi Arabian Mining Co. (Maaden) has asked banks for proposals for a loan that would be used to refinance a part of the mining firm’s $2.88 billion existing debt, Reuters reported.

5) Alinma Tokio Marine Co. said a fire broke out on Sep. 5 at Jeddah-based Al Murooj International Co., which is fully insured by the company. The financial impact and estimated compensation for the incident will reflect on Q3 2017 financial.

6) Oil prices closed with declines on Friday, with US crude down more than 3 percent amid concerns over disruption in demand from refineries in the hurricane-hit states. WTI crude dropped 3.3 percent to close at $47.48/bbl, while Brent crude fell 1.3 percent to $53.78/bbl.

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