10 things to watch when Tadawul opens today

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

1) Emirates Telecommunications Corporation has raised its stake in Etihad Etisalat Co. (Mobily) from 27.56 percent to 27.62 percent, the company said in a Tadawul statement. 

2) Abdullah A. M. Al-Khodari Sons Co. has inked an agreement with Abdullah Fouad Holding Co. to hold an auction on al Khodari’s outmoded equipment from 16 to 18 May, 2017.

3) Dallah Healthcare Co. said it will pay a SAR 2 per share cash dividend for FY 2016 on May 8, 2017 through the National Commercial Bank.

4) The Saudi Arabian Monetary Authority (SAMA), the Kingdom’s central bank and insurance market regulator, has banned Wafa Insurance from issuing auto insurance policies as of April 27, the authority said in a statement.

5) SAMA has asked Weqaya Takaful Insurance and Reinsurance Co. to provide more information on its capital hike request.

6) Jadwa Investment Real Estate Investment Traded Fund (Jadwa REIT Al Haramain) will start trading on Tadawul on Sunday, April 30, under code 4332, the bourse said in a statement.

7) SAMA has asked Trade Union Cooperative Insurance Co. to comply with regulatory requirements, pertaining to internal auditing, compliance issues, in and settlement of insurance claims.

8) Saudia Dairy and Foodstuff Co.’s (SADAFCO) board of directors on Tuesday approved building a new warehouse on the plot of land leased in Jeddah First Industrial City.

9) According to retail experts and market analysts, Saudi Arabia’s recent decision to restrict jobs at malls only to its nationals is likely to drive up operating costs for business owners, but will in turn force mall operators to improve efficiency to offset negative any impact.

10) Elsewhere, oil prices declined on Thursday on ongoing oversupply concerns. Brent crude was last down 0.4 percent at $51.62/bbl, and WTI crude fell 0.5 percent to $49.35/bbl.

Write to Reem Abdellatif at reem.a@argaam.com