What you need to know when Tadawul opens today

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

1) The Saudi Investment Bank’s (SAIB) net profit declined by 58.5% year-on-year (YoY) to SAR 239 million for fiscal year (FY) 2019, as compared to SAR 576 million in FY2018.

2) Najran Cement Co. reported a net profit after Zakat and tax of SAR 15.5 million for FY2019, versus a net loss of SAR 83.5 million a year earlier.

3) The Saudi Stock Exchange (Tadawul) approved the listing request of the government issued debt instruments submitted by the Ministry of Finance for a total value of SAR 3.988 billion.

4) Saudi Aramco signed 66 memorandums of understanding (MoUs) and strategic and commercial collaborations worth more than $21 billion (SAR 78.75 billion) with international entities from 11 countries.

5) Al-Maather REIT Fund completed the acquisition of Al Nokhba Educational Schools from Creative Knowledge Company for Educational Purposes for SAR 32.6 million.

6) The Mediterranean and Gulf Cooperative Insurance and Reinsurance Co. (MedGulf) set up a new medical claims department.

7) Saudi Marketing Co. (Farm Superstores) will elect on March 19 a new board of directors for a 3-year term, starting March 21, 2020, to March 20, 2023.

8) MetLife AIG ANB Cooperative Insurance Co. said that the creditor objection period for the merger with Walaa Cooperative Insurance Co. will end on Feb. 27, 2020.

9) Brent crude on Tuesday gained 19 cents to reach $56.49 per barrel. WTI Crude also increased 16 cents to reach $51.59/bbl.