8 things to watch today as Tadawul starts trading

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

1) The total value of the top 15 transport and utility projects in Saudi Arabia is estimated at $6.83 billion, according to data shared by research consultancy BNC Network with Argaam.

2) Saudi Arabia’s insurance market regulator has signed a deal with the General Department of Traffic to cooperate on developing the auto insurance sector, as the Kingdom prepares to welcome women drivers on its roads in June 2018.

3) Saudi Basic Industries Corp’s (SABIC) 75 percent-owned subsidiary Jubail United Petrochemical Co. has awarded South Korea’s Samsung Engineering the engineering, procurement, and construction services contract for the third ethylene glycol plant to expand operations in Jubail complex.

4) Saudi Electricity Co. (SEC) has awarded the contract for building a 380kV double circuit overhead transmission line to L&T Construction, a subsidiary of India's Larsen & Toubro (L&T).

5) Al Hammadi Company for Development and Investment’s shareholders have approved a recommendation from the board to distribute a 7.5 percent cash dividend (SAR 0.75 per share) for fiscal year 2017.

6) Sahara Petrochemical Co.’s board of directors has recommended a 10 percent cash dividend (SAR 1 per share) for the financial year 2017.

Separately, the firm said its board has appointed Saleh Mohammed Bahamdan as vice-chairman, effective immediately until end of current term on June 26, 2018.

7) The Saudi Stock Exchange (Tadawul) has issued on Wednesday the final terms and conditions for Al Rajhi REIT Fund, which are available on the bourse’s website.

8) Oil prices climbed on Thursday, with Brent crude last trading up 0.2 percent at $66.57/bbl, while WTI crude rose 0.2 percent to $59.77/bbl.

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com