10 things to consider as Tadawul starts trading

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

1) Saudi Basic Industries Corp.’s (SABIC) board of directors recommended a 22 percent cash dividend for the first half of 2018, at SAR 2.2 per share, amounting to SAR 6.6 billion.

2) Saudi Arabia's non-oil private sector rebounded in May after falling to its lowest level in April, according to Emirates NBD.

3) The US government has asked Saudi Arabia and a few other OPEC members to increase oil production by about 1 million barrels a day, Bloomberg reported.

4) Middle East Healthcare Co. (MEAHCO), the owner and operator of the Saudi German Hospital (SGH), opened Saudi German Hospital at Sharjah.

5) Allianz Saudi Fransi Cooperative Insurance Co.’s (Allianz SF) board of directors recommended a capital hike through a SAR 400 million rights issue.

6) The National Commercial Bank (NCB) will deposit SAR 57,638 proceeds from the share fraction sale in shareholders’ portfolios on June 11.

7) Tourism Enterprise Co.’s (Shams) board of directors decided on June 4 to suspend Abdulhameed Al Turaief, chief executive officer, after suspicions of violations required an investigation.

8) Buruj Cooperative Insurance Co. has received a no-objection letter from Saudi Arabian Monetary Authority (SAMA) regarding its proposed capital increase.

9) Al Yamamah Steel Industries Co. completed the purchase of a solar power plant in Jeddah’s 1st Industrial City for SAR 17 million.

10) Saudi Arabia’s National Housing Co. (NHC) inked a MoU with King Abdullah Economic City (KAEC) to build additional 8,000 residential units in Al-Shurooq city under Sakani program.