10 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) Saudi Real Estate Co.’s (Al Akaria) investments in Saudi firms stood at SAR 1.03 billion by the end of H1 2018, CEO Mamdouh Al Sharhan told Argaam.

2) The Saudization rate at Etihad Etisalat Co.’s (Mobily) executive positions currently stands at 75 percent, which is the level required by regulators, chairman Sulaiman Algwaiz told Makkah newspaper.

3) Saudi Arabia's megacity project NEOM has formed an advisory board, consisting of 19 members.

4) National Company for Learning & Education plans to acquire private schools and proceed with building educational complexes to maintain short-term growth, Khalid Al-Khudair, vice chairman and managing director, told Argaam.

5) The International Monetary Fund raised its growth forecast for Saudi Arabia for the third time this year to 2.2 percent, citing higher oil prices.

6) The planned merger of Sahara Petrochemical Co. and Sipchem could create an entity with a potential market value of SAR 16 billion, Aljazira Capital said.

7) Saudi Telecom Co. signed agreements with major international firms to promote local content, including a deal to set up a local fiber optic factory in partnership with Fujikura and Middle East Fiber Cable Manufacturing Co.

8) Tabuk Agricultural Development Co. signed on Oct. 8 a non-binding memorandum of understanding with the Arab Authority for Agricultural Investment and Development.

9) The aggregate sales of 17 Saudi cement firms edged up 0.4 percent to 3.16 million tons in September 2018, compared to 3.15 million tons in the same month last year, according to data released by Yamama Cement Co.

10) Oil prices fell Wednesday after the IMF lowered its global growth forecasts. Benchmark Brent edged down 18 cents to $84.82/bbl, while WTI crude slipped 32 cents to $74.64/bbl.