9 things to watch on Tadawul today

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

1) Bank Aljazira’s net profit more than doubled year-on-year (YoY) to SAR 991 million for the fiscal year 2019.

2) Abdullah Saad Mohammed Abo Moati for Bookstores Co. reported a net profit after Zakat and tax of SAR 11.02 million for the 9 months ended Dec. 31, 2019.

3) The Methanol Chemicals Co. (Chemanol) resumed operations at its methanol and dimethylformamide plants, on Feb. 4, after successfully completing the scheduled maintenance.

4) Jadwa Investment, fund manager of Jadwa REIT Al Haramain Fund, will redevelop Tharawat Wadi Ibrahim Hotel and the restaurant building, by merging the properties and developing them into a hotel tower.

5) Saudi Automotive Services Company (SASCO) started requesting fuel quantities from Aramco in accordance with the new profit margin.

6) The Securities Depository Center Company (Edaa) deposited, on Feb. 4, Saudi Cable Co. rights into shareholders’ portfolios.

7) Dr. Fahad Bin Mushayt, CEO of Media City project, and Saleh Al Dowais, CEO of Saudi Research and Marketing Group (SRMG) signed an agreement to establish a new headquarter for the group at the Media City project in Riyadh.

8) The Capital Market Authority (CMA) approved a request by Etihad Atheeb Telecommunication Co. (GO) to reduce its capital to SAR 228.53 million from SAR 350.53 million.

9) Brent crude on Wednesday gained 64 cents to reach $54.60 per barrel. WTI Crude also increased 53 cents to reach $50.14/bbl.