6 things to consider as Tadawul starts trading

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

1) L’Azurde for Jewelry Co. is reviewing its network of 14 stores in Saudi Arabia to enhance performance, and may look to close or relocate some outlets, chief executive Selim Chidiac told Argaam.

2) Musharaka REIT Fund will pay a 3.5 percent cash dividend for a period of six months (from February 17, 2018 until August 17, 2018), at SAR 0.35 per unit, amounting to SAR 30.8 million, fund manager Musharaka Capital said in a statement.

3) The Capital Market Authority (CMA) said Saudi Indian Company for Cooperative Insurance (Wafa Insurance) will be dissolved under the Company Law on September 11, if it fails to hold an extraordinary general meeting within 45 days after the board of directors was informed of accumulated losses.

4) Saudi Arabia is developing a car manufacturing city, and working to incentivize investors to inject money into the industry, the Ministry of Energy, Industry and Mineral Resources said.

5) Saudi Arabia’s growing interest in boosting its natural gas capacity will lead to heightened project activity in the segment, driving the non-residential infrastructure growth over the coming years, research firm Fitch Solutions said in a report.

6) The Organization of Petroleum Exporting Countries (OPEC) has lowered its projections for oil demand growth for this year and the next by 20,000 barrels per day.

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