8 things to consider as Tadawul starts trading

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

1) Riyad Bank’s Q1 2018 performance was lifted by treasury and investment segment, which posted a 44 percent profit rise year-on-year to SAR 423 million in the same period, data compiled by Argaam showed.

2) Alawwal Bank recorded a 12 percent fall in credit provisions to SAR 257 million in Q1 2018 versus the same period last year, data compiled by Argaam revealed.

3) S&P Dow Jones Indices (S&P DJI) has begun consulting investors for a potential upgrade for Saudi Arabia to emerging market status.

4) Sales at National Petrochemical Industrial Co. (NATPET), which is 57.4 percent-owned by Alujain Corp, rose 37 percent year-on-year in Q1, data compiled by Argaam showed.  

5) The Capital Market Authority (CMA) approved the requests of Saudi Enaya Cooperative Insurance Co. and Saudi Indian Company for Cooperative Insurance (Wafa Insurance) to reduce capital by 18 percent and 50 percent, respectively.

6) Middle East Paper Co. (MEPCO) completed repurchase of 43,661 of its shares, at SAR 22.87 a share for SAR 998,357.

7) Saudi Arabia’s oil exports dropped 2 percent to 7.12 million barrels a day (mbd) in March, from 7.25 mbd the previous month, said the Joint Organizations Data Initiative (JODI).

8) Banks in Saudi Arabia reported a 7.5 percent year-on-year and a18 percent quarter-on-quarter growth in net profit for Q1 2018, supported by lower interest expenses and provisioning charges, Moody’s Investors Service said.