10 things to consider as Tadawul starts trading

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

1) Etihad Etisalat Co. (Mobily) reported a net loss of SAR 181.7 million in Q4 2017, widening from a loss of SAR 70 million in the same period the previous year.

Separately, Mobily CEO Ahmed Abou Doma told Argaam that the firm’s future plans include focusing on increasing revenues from the data segment, which is growing rapidly.

2) Saudi Investment Bank’s (SAIB) board of directors has recommended a 6 percent cash dividend for fiscal year 2017 (at SAR 0.6 per share) amounting to SAR 450 million.

3) Saudi Fisheries Co.’s board of directors has recommended selling two land plots owned by the company in Riyadh and Qassim.

4) Tabuk Agricultural Development Co. (TADCO) will tap the flour milling industry and boost its investments in fodder production to a maximum of SAR 60 million. For these investments, TADCO is planning to acquire stakes in existing entities instead of establishing new ones to fast-track the use of proceeds.

Separately, the firm said it has signed an agreement to acquire a 60 percent stake in a new company that will be established by Ahmed Hussein Ahmed Al Amri Foundation.

5) Middle East Healthcare Company (Saudi German Hospital) will start receiving patients at its Beverly Clinics at Khalidiya District Jeddah from February 15.

6) BATIC Investment and Logistics Co. has signed a MoU with Abdullah Abbar & Sons Cold Stores Co. and Dar Al Abbar Ltd. to acquire properties in Saudi Arabia and the UAE.

7) The Capital Market Authority (CMA) is reviewing four requests for initial public offerings from firms looking to list on Saudi Arabia’s main and parallel markets, chairman Mohammed El-Kuwaiz told Argaam.

8) Khair's Inorganic Chemical Industries Co (InoChem) has signed a SAR 900 million loan agreement with the Saudi Industrial Development Fund (SIDF) to build an industrial complex in Ras Al Khair Industrial City.

9) Saudi Arabia’s General Authority for Civil Aviation (GACA) plans to tender Al Qunfudhah airport within 60 days, according to Prince Khalid Al-Faisal, governor of Makkah.

10) Oil prices rose on Thursday after EIA data showed smaller-than-expected rise in US inventories last week. Brent crude was last trading up 0.9 percent at $64.92/bbl while WTI crude rose 1.3 percent to $61.4/bbl.

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