9 things to watch on Tadawul today

Tadawul trading screen

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

1) Saudi Tadawul Group signed a memorandum of understanding (MoU) with Off-plan Sales or Rent Program (Wafi) to encourage listing of real estate companies and offer them incentives.

2) National Company for Learning and Education (NCLE) reported a net profit after Zakat and tax of SAR 17.5 million for the nine month-period ended May 31, 2021, a decline of 53% year-on-year (YoY).

3) Takween Advanced Industries (Takween) reported a net profit after Zakat and tax to SAR 10 million for the first half of 2021.

4) Saudi Tadawul Group approved a request from the Ministry of Finance to list government debt instruments from a class already listed, worth SAR 10.41 billion.

5) Fitaihi Holding Group’s shareholders approved on July 7, a 50% capital cut to SAR 275 million from SAR 550 million.

6) Saudi Electricity Co. (SEC) signed a green facility worth $500 million, financed and guaranteed by Japan Bank for International Cooperation (JBIC), to support its green projects in the field of transmission and distribution networks.

7) Zahrat Al Waha for Trading Co. announced the renewal of Sharia-compliant credit facilities agreement with Arab National Bank.

8) The General Authority for Competition (GAC) issued a no-objection certificate to complete the economic concentration transaction between Almarai Co. and Bakemart UAE, Bakemart FZ-LLC, Bakemart LLC and Bakemart WLL (Bahrain).

9) Brent crude on Friday gained $1.43 to reach $75.55 per barrel. WTI crude also increased $1.62 to reach $74.56/bbl.