7 things to watch on Tadawul today

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

1) The Saudi Arabian Monetary Authority (SAMA) is well positioned to withstand a potential hike in the US Fed key rates, its governor Ahmed Alkholifey said.

2) Saudi Real Estate Co.’s (Al Akaria) wholly owned subsidiary Al Wedyan Real Estate Co. signed an agreement worth SAR 1.1 billion with Saudi Real Estate for Infrastructure Co. (Binya) to implement all the infrastructure works of Al Wedyan project. The project’s total cost is expected to reach SAR 37.5 billion upon completion.

3) Saudi Industrial Export Co. (SIECO) extended its memorandum of understanding with United Chemical Co. for three months starting  Sept.20.

4) Saudi Indian Cooperative Insurance Co.’s (Wafa Insurance) board of directors recommended a capital hike through a SAR 220 million rights issue.

5) Musharka REIT Fund paid cash dividend for the first six months (from Feb. 17 until Aug. 17, 2018), Musharaka Capital, the fund manager said.

6) Saudi Arabia’s Capital Market Authority (CMA) approved the initial public offering of Alpha Capital’s Alpha Murabaha Fund.

7) The Saudi Securities Depository Center Co. (Edaa) is in talks with foreign firms to list the international bonds and sukuk issued by the Debt Management Office, Khalid Al Hussan, CEO, Saudi Stock Exchange (Tadawul), told Al-Eqtisadiah.