7 things to watch on Tadawul today

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

1) Saudi Arabia’s crude oil production increased to 10.424 million barrels per day (mbd) in August, up from 10.288 mbd in July, according to an unnamed OPEC source.

2) Assets held by the Saudi Arabian Monetary Authority (SAMA), the Kingdom’s central bank, declined by SAR 17.7 billion month-on-month to SAR 1.92 trillion in July. Meanwhile, banks reported a combined net profit of SAR 4.76 billion in July, an increase of 19 percent year-on-year, SAMA said.

3) State-owned Public Investment Fund has appointed Andrew Liveris, the former chairman and chief executive officer of Dow Chemical, as a special adviser.

4) Al Hammadi Company for Development and Investment terminated the memorandum of understanding (MoU) signed with Sudair Pharma Co. for a potential acquisition.

5) Abdulmohsen Alhokair Group for Tourism and Development Co. found that over 35 percent of UAE’s movie theatre visitors are Saudis, which indicates that the Saudi market is eager to have cinemas in the Kingdom, said company deputy CEO Mishal Alhokair.

6) Steady crude oil prices, higher oil output and better non-oil growth will aid Saudi Arabia’s economic recovery this year, Al Rajhi Capital said.

7) Oil prices fell early Monday amid rising supply from OPEC and the United States. Brent crude was down 30 cents at $77.34/bbl, while WTI crude slipped 23 cents to $69.57/bbl.