8 things to watch on Tadawul today

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

1) Sahara Petrochemical Co. said production has been halted in a plant owned by its subsidiary, Al Waha Petrochemicals Co. due to a technical glitch.

2) Abdulrahman Saad Alrashid & Sons Co. (ARTAR) still owns 60 percent of Bonyan REIT units, Saudi Fransi Capital, the fund manager, said. 

3) The Public Investment Fund (PIF) will sign an $11 billion loan this week, Bloomberg reported.

4) Derayah REIT Fund will pay a 1.81 percent cash dividend for Q3 2018, at SAR 0.181 per unit, amounting to SAR 19.41 million, said the fund manager, Derayah Capital.

5) The Saudi banking sector’s asset quality could improve gradually with improvement in crude oil price and government’s recent initiatives to support the SME sector,  Al Rajhi Capital said in a report.

6) Total world oil demand is projected to surpass 100 million barrels per day (mbd) for the first time to reach 100.23 mbd next year, OPEC said.

7) Significant growth in demand for hotel rooms in Jeddah pushed average daily rate and revenue per available room to their highest absolute levels for any August, STR Global said.

8) The Ministry of Energy, Industry and Mineral Resources is seeking to generate 160,000 jobs in the mining sector by 2030, according to deputy minister Khalid bin Saleh Al-Mudaifer.