6 things you need to know on Tadawul today

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

1) Abdullah Al Othaim Markets Co. has sold a shopping complex in Hail to Abdullah Al Othaim Real Estate Investment & Development Co., a related party, for SAR 361.26 million.

2) Fawaz Abdulaziz Alhokair Co. (Alhokair) said it has signed a murabaha agreement for SAR 1.25 billion with Al Rajhi Bank, for tenure of seven years.

3) Bawan Co. said its board has approved the sale of 90 percent stake in United Transformers Electric Co. Ltd. (UTEC Syria) for SAR 16.5 million ($4.4 million).

4) Economic activity in Saudi Arabia’s non-oil sector will remain sluggish in the short-term before picking up next year as fiscal reforms kick in, Bank of America Merrill Lynch said.

5) The economic indicators for Gulf Cooperation Council (GCC) states suggest a subdued outlook for the region, Nomura Asset Management said in a report.

6) Oil prices were lower on Wednesday. Brent crude was last down 0.4 percent at $51.69/bbl, while WTI crude fell 0.3 percent to $47.68/bbl.

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