8 things to watch on Tadawul today

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

1) Taiba For Investment Co. has completed all the regulatory procedures and requirements for its capital hike to finance the acquisition of minority shares in Al Aqeeq Real Estate Development Co. and Arab Resort Areas Co. (ARAC).

2) Arab Sea Information Systems Co. reported a net profit after zakat and tax of SAR 127,838 for the first quarter of 2019, around an 86 percent year-on-year (YoY) decrease on lower revenue and higher cost of revenue.

3) The Saudi Capital Market Authority (CMA) has imposed a fine of SAR 10,000 on the National Building & Marketing Co., according to an official statement.

4) Malath Cooperative Insurance and Reinsurance Co. said in a bourse statement it renewed an insurance coverage contract with the Arab National Bank (ANB) for one year as of June 1, 2019.

5) Solidarity Saudi Takaful Co.’s (Solidarity) shareholders approved on Sunday the board report, financial statements and audit report for fiscal year 2018.

6) National Medical Care Company (Care) said it received a letter from NMC Healthcare KSA, in which the latter requested to hold a general meeting to vote on terminating the current three-year term of the board of directors.

7) Al Masha’ar REIT Fund signed on Sunday a sharia-compliant financing facility agreement with Riyad Bank worth SAR 500 million, fund manager Muscat Capital said in a bourse statement.

8) Brent crude on Tuesday gained 14 cents to reach $62.43/bbl, while WTI crude also increased 31 cents to $53.57/bbl.