7 things you need to know on Tadawul today

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

1) Mouwasat Medical Services Co. (Mouwasat) has signed a SAR 40 million deal with Philips Healthcare Saudi Arabia Limited Co. to supply and install digital diagnostic radiology and intensive care devices at Mouwasat Hospital in Khobar. The deal’s financial impact is expected to show on Mouwasat’s Q4 2017 results.

2) Dallah Healthcare Co. has signed a SAR 140 million contract with Youssef Marroun Contracting Co. to start the construction for the expansion of Dallah Hospital Al-Nakheel, the company said.

3) Arabian Shield Cooperative Insurance Co. will terminate agreements with all insurance agencies starting Dec. 31, the company said. The decision is part of the insurer’s new strategy to sell and distributing services online.

4) Makkah Construction & Development Co. has set up a 100 percent-owned subsidiary with a SAR 3 million in capital, the company said in a statement to Tadawul.

5) Saudi Company for Hardware (SACO) opened a new store in Hala Mall, Hafr Al Batin City, bringing its total number of branches to 28 in the Kingdom.

6) State- owned oil giant Saudi Aramco has invited firms to bid for a contract to upgrade the water injection system at the Manifa oilfield, located in eastern Saudi Arabia, MEED reported.

7) Oil prices declined on Tuesday, but Brent crude held above the $55-level. The benchmark grade was down 0.2 percent at $55.39/bbl while WTI crude fell 0.1 percent to $49.87/bbl.

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