6 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) Jarir Marketing Co. (Jarir) reported a net profit of SAR 246.5 million for Q3 2017, up 13 percent from the same period last year due to higher sales and improved profit margins.

2) Almarai Co. (Almarai) shareholders have approved an increase in the share capital from SAR 8 billion to SAR 10 billion through distribution of bonus shares. Almarai’s fluctuation limits on Monday will be on a share price of SAR 55.95.

3) Sadara Basic Services Co’s board of directors has appointed Faisal Al-Faqeer as the new chief executive officer, effective Oct. 1, to replace Ziad Al-Labban.

4) Saudi Arabia may generate about SAR 253.8 billion in revenues by 2020 from lifting energy subsidies, the International Monetary Fund said in a recent report.

5) The Saudi Arabian Monetary Authority (SAMA) has ordered insurance firms to ensure that retail insurance products are only sold by Saudis by Feb. 1, 2018.

6) Oil prices held stable on Monday, with Brent crude last up 0.2 percent at $55.75/bbl while WTI crude rose 0.3 percent to $49.45/bbl.

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