Here are a few things you need to know as Saudi stocks start trading on Wednesday.
- National Commercial Bank (NCB) and Samba Financial Group received the approval of the Saudi Central Bank (SAMA) for the merger and a number of relevant matters.
- Solidarity Takaful Co.'s board of directors approved the resignation of chief executive officer Bader bin Khalid Al-Anzi, citing personal reasons.
- Aseer Trading, Tourism and Manufacturing Co.’s subsidiary, Al Rabie Saudi Foods Co. Ltd., signed a Shariah-compliant financing agreement at a total value of SR 342 million ($91.2 million), with Samba Financial Group.
- Saudi Ground Services Co.’s planned expansions of the Kingdom's airports will create new opportunities for the company as well as other market competitors after the end of the pandemic outbreak.
- Eastern Province Cement Co.’s board of directors reappointed Mohammed Saad Al-Faraj Al-Subaie as chairman, and Ibrahim Salem Mohammed Al-Rowais as deputy chairman.
- Brent crude on Wednesday gained 24 cents to reach $57.70 per barrel. WTI crude also increased 23 cents to reach $54.99/bbl.
