9 things you need to know on Tadawul today

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

1) Saudi Arabia’s Ministry of Finance closed additional bids for its domestic sukuk issuance (07-2018) under the government's riyal-denominated sukuk program.

2) The Public Investment Fund (PIF) refuted a Wall Street Journal report that it had shelved a $200 billion plan with SoftBank Vision Fund to build the world’s biggest solar project, calling the news "inaccurate."

3) Jadwa REIT Saudi Fund signed a SAR 1 billion Shariah-compliant financing facility agreement with Banque Saudi Fransi (BSF), fund manager Jadwa Investment said.

4) Saudi bank loans granted to public and private sectors rose 1 percent by the end of August to SAR 1.488 trillion, compared to SAR 1.471 trillion a year earlier, data issued by the Saudi Arabian Monetary Authority (SAMA) showed.

5) Bahrain’s GFH Financial Group signed an agreement to acquire $200 million worth of Islamic sukuk from Al Rajhi Bank, the financial group said.

6) The 7 percent recovery by the Tadawul All Share Index (TASI) after dipping to 6-month-lows of 7,500 points in mid-September reflects stronger fundamentals of Saudi Arabian economy, Jadwa Investment said.

7) Saudi Arabia needs to accelerate the privatization process as part of wider economic reforms, even in an environment of higher oil prices, according to MUFG Bank.

8) Saudi Arabia’s banking sector earnings are likely to continue to improve in Q3 2018 along with a moderate growth in the asset yields, Al Rajhi Capital said in its Q3 2018 earnings estimates report.

9) Oil prices remained firm on Wednesday on expectations of tighter markets once US sanctions target Iran’s oil exports from next month. Benchmark Brent and WTI crude were steady at $84.83/bbl and $75.22/bbl, respectively.