What you need to know when Tadawul opens today

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

1) Etihad Etisalat Co. (Mobily) reported a net profit after zakat and tax of SAR 31 million for fiscal year (FY) 2019 as compared to a net loss of SAR 123 million in 2018.

2) Saudi Airlines Catering Co. reported a net profit after Zakat and tax of SAR 463.9 million for FY2019, a 1% year-on-year (YoY) increase.

3) Thob Al Aseel Co. reported a net profit after Zakat and tax of SAR 80.37 million for FY2019, a 41.9% YoY increase.

4) Riyad Bank announced the first issuance of its dollar-denominated international Tier 2 sukuk as part of the program to issue primary and secondary bonds.

5) Saudi Airlines Catering Co. recommended a 14% cash dividend for the fourth quarter of 2019, at SAR 1.4 per share, amounting to SAR 114.8 million.

6) The Company for Cooperative Insurance (Tawuniya) renewed its health insurance services contract with Saudi Arabian Airlines (Saudia) for 1 year, starting March 1, 2020.

7) STC announced it is the owner of the group’s new logo, which is officially registered in Saudi Arabia and other countries.

8) Knowledge Economic City (KEC) signed a memorandum of understanding (MoU) with OYO Oravel Technology to manage and operate 1,500 rooms in the Islamic World District in Madinah.

9) Saudi Basic Industries Corp. (SABIC) will suspend production of ULTEM polymers in Spain’s Cartagena plant this year, as part of its global operation optimization strategy.

10) Brent crude on Wednesday gained 59 cents to reach $58.34 per barrel. WTI Crude also increased 57 cents to reach $52.62/bbl.