Here are a few things you need to know as Saudi stocks start trading on Monday.
– Bank Albilad reported a net profit of SR 1.348 billion ($359.3 million) for 2020, up 8 percent, compared to SR 1.243 billion in the previous year.
– United International Transportation Co. (Budget Saudi) reported a net profit after Zakat and tax of SR 187.9 million for 2020, up 5 percent, compared to SR 178.6 million in the previous year.
– Sahara International Petrochemical Co. (Sipchem) completed the scheduled periodic turnaround maintenance for the polymers plant of International Polymers Co. (IPC), with startup activities commencing from Feb. 7, 2021.
– Etihad Atheeb Telecommunication Co. (GO) said that an agreement signed with one of the main suppliers to settle all balances and debts resulted in a positive initial financial impact of recording revenue of SR 101.3 million.
– Bank Albilad appointed Nasser Mohammed AlSubeaei as chairman of the board of directors and Fahad Abdullah Bindekhayel as vice chairman.
– Budget Saudi’s board of directors recommended paying cash dividend at 12.50 percent of capital, or SR 1.25 a share, for H2 2020.
– Umm Al-Qura Cement Co. opened the nomination process for board of directors’ membership for the upcoming three-year term, starting July 4, 2021.
– Brent crude on Monday gained 45 cents to reach $59.79 per barrel. WTI crude also increased 48 cents to reach $57.33/bbl.
Saudi authorities close 550 shops in virus crackdownCOVID-19 exit strategy within public’s hands, say Saudi Interior Ministry