8 things to watch on Tadawul today

Tadawul trading screen

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

1) Global rating agency Moody’s affirmed Saudi Arabia’s credit rating at ‘A1’, with ‘stable’ outlook.

2) Saudi Arabian Amiantit Co. said the income tax and dispute resolution department at the Zakat, Tax and Customs Authority (ZATCA) approved its objection to Zakat claims of nearly SAR 150 million for previous years.

3) Theeb Rent a Car Co.'s board of directors recommended the distribution of cash dividends at SAR 0.49 per share, or 4.9% of capital, for Q1 2022.

4) East Pipes Integrated Company for Industry signed a Shariah-compliant banking facilities agreement worth SAR 500 million with Arab National Bank (ANB).

5) Dar Al Arkan Real Estate Development Co. started construction at its new project "W Residences Dubai-Downtown."

6) Shareholders of Saudi Marketing Co. (Farm Superstores) approved the board recommendation to withhold dividends for 2021.

7) Arabia Insurance Cooperative Co. (AICC) shareholders will vote on a capital hike via a SAR 265 million rights issue, during the EGM scheduled for June 29.

8) Brent crude rose 0.21% to reach $120.82 per barrel. WTI crude gained 0.28% to reach $119.75/bbl.