Oil Updates — Crude slides; Japan to take time phasing out Russian imports; China’s oil imports rebound in April
Follow-ups -eshrag News:
RIYADH: Saudi Arabia’s main stock market, Tadawul, gained on Sunday as it reopened after the Eid break amid a rise in oil prices.
TASI, the main index, added 0.6 percent to 13,820 points, while the parallel market Nomu dropped 1.5 percent to 23,547 points.
Elsewhere in the Gulf, stock exchanges of Qatar, Bahrain, Oman, and Kuwait all edged down.
Egypt, on the other hand, recorded gains of 0.6 percent.
Oil prices extended gains on Monday after posting their second straight week of gains days earlier.
Brent crude oil reached $112.7 a barrel and US benchmark WTI rose to $109.92 a barrel at 8:04 a.m. Saudi time.
Stock news
Al Rajhi Bank’s shareholders approved the board’s recommendation to increase capital to SR40 billion ($10.7 billion) as well as distribute cash dividends of SR1.4 per share for 2021
Halwani Bros Co. recorded a 22 percent drop in profit to SR19.7 million in the first quarter as global inflation increased its cost burden
Al Khaleej Training and Education Co. appointed Abdul Aziz Al-Rashed as board chairman and Ahmed Al-Shadawi as vice-chairman
National Gas and Industrialization Co. signed an initial deal with Makeen Energy to boost operational efficiency and strengthen investment in gas supply sectors
Amana Cooperative Insurance Co.’s board has proposed increasing capital through a rights issue of SR300 million to support the company’s future plans
Al-Rajhi Cooperative Insurance’s net profit fell by 40.5 percent to SR40 million in the first quarter
Saudi Cable Co.’s shares will be suspended from trading starting Monday until its 2021 annual financial results are disclosed
Zamil Industrial Investment Co. announced the resignation of its CEO Abdulla Al-Zamil and the appointment of Mohammed Al-Sahib with immediate effect
Zamil Industrial also appointed Abdulla Al-Zamil as board chairman and Bander Al-Zamil as vice chairman for a three-year term
Unitholders of Alkhabeer REIT are set to receive quarterly dividends of SR17.6 million in total for the period ending March 31
Calendar
May 11, 2022
Start of Arabian Food & Dairy Factories Co.’s IPO book-building
May 15, 2022
Saudi Aramco will disclose its financial results for the first quarter of 2022
End of Arabian Food & Dairy Factories Co.’s IPO book-building
May 22, 2022
Start of Amwaj International Co.’s IPO book-building
May 25, 2022
End of Amwaj International Co.’s IPO book-building
Noting that the news was copied from another site and all rights reserved to the original source.
