9 things to consider as Tadawul starts trading

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

1) Qassim Cement Co. reported a net profit of SAR 251.8 million for fiscal year 2017, down 38 percent year-on- year (YoY) as sales declined due to lower selling price and demand.

Separately, the firm said its board of directors has recommended an 8 percent cash dividend (SAR 0.8 per share) for the fourth quarter 2017.

2) Saudi Basic Industries Corp. (SABIC) plans to continue cutting costs by 5 to 7 percent in fiscal year 2018, CEO Yousef Al-Benyan said.

3) Dallah Healthcare Company (Dallah Health) has awarded a SAR 130 million MEP contract for expansion of Dallah Hospital in Al-Nakheel, Riyadh, to Youssef Marroun Contracting Co.

4) Saudi Industrial Services Co. (SISCO) said the Red Sea Gateway Terminal expansion project was completed as scheduled. The financial impact in 2018 will be subject to local economic conditions.

5) Bank Aljazira has appointed non-executive board member Abdul Majeed Al Sultan as vice-chairman, effective immediately until the end of the current term on December 31.

6) Mulkia Gulf Real Estate REIT will pay a 1.05 percent cash dividend amounting to SAR 6.3 million (SAR 0.105 per unit) for the period from November 5 to December 31, 2017.

7) Saudi central bank governor said Saudi Arabia's foreign currency reserves have seen an assuring rise in December, reversing a persistent decline over several months earlier.

8) Saudi Arabia seeks to increase bank credit for small and medium sized enterprises (SMEs) from 2 percent to 5 percent by 2020, according to finance minister Mohammed Al-Jadaan.

9) Oil prices were mixed on Monday. Brent crude was last trading down 0.1 percent at $70.43/bbl, while WTI crude rose 0.3 percent to $66.34/bbl. 

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