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Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1. Saudi Basic Industries Corp. (SABIC) is seeking to become the largest petrochemical company in the world in 2030 after moving to the third place this year, company Vice Chairman and CEO, Yousef Al-Benyan, told Rotana Khalejia TV channel.
2. stc Group launched three mega data centers in Riyadh, Jeddah and Madinah with a $270 million investment value.
3. Advanced Petrochemical Co.’s wholly owned subsidiary, Advanced Global Investment Co., signed long-term off-take agreements to sell polypropylene with three international firms for nearly 620,000 metric ton per annum.
4. Naseej International Trading Co. submitted its file to increase capital through $40 million rights issue for approval to the Capital Market Authority (CMA).
5. Mulkia Investment Co., the fund manager of Mulkia Gulf Real Estate REIT Fund, signed a $160 million, seven-year facility agreement with Al Rajhi Bank.
6. Nama Chemicals Co. filed a lawsuit at Dammam Commercial Court against its former chief executive officer, Abdullah Bin Ouda Al Enazi, who was terminated on Aug. 25, 2019.
7. Saudi Arabian Amiantit Co. announced board members, except one, agreed to waive their remuneration for the fiscal years 2018 and 2019.
8. Saudi Indian Co. for Cooperative Insurance (Wafa Insurance) paid the first instalment of creditors' dues.
9. BinDawood Holding Co.’s subsidiary, Danube Company for Foodstuffs and Commodities, opened its 47th branch in Jeddah.
10. Brent crude on Wednesday morning rose 21 cents to $51.30 per barrel, while WTI edged up 25 cents to $48.25/bbl.
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