OPEC raises November oil output by 750,000 bpd

OPEC raises November oil output by 750,000 bpd
OPEC raises November oil output by 750,000 bpd

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Jeddah - Yasmine El Tohamy - Here are a few things you need to know as Saudi stocks start trading on Tuesday.

1) Saudi started paying Q3 2020 cash dividend at SAR 0.352 ($0.0939) a share, to shareholders of record on Nov. 9.

2) Aramco signed six memoranda of understanding (MoUs) within the framework of expansion, which includes plans for new international partnerships and establishing companies through an Industrial Investment Program.

3) AXA Cooperative Insurance Co. announced that AXA Group decided to sell its insurance operations in the Gulf region.

4) Saudi Investment Bank’s (SAIB) shareholders approved mandating the board of directors to extend the maximum period within which the bank can retain the shares acquired from JP Morgan International Finance and Mizuho Bank Ltd as treasury shares.

5) Citigroup Saudi Arabia and Goldman Sachs Saudi Arabia announced receiving a notification from NatWest Markets Plc and Banco Santander S.A. about the proposed secondary sale of up to nearly 116 million ordinary shares, or 5.6 percent of Saudi British Bank (SABB).

6) Alinma Tokio Marine Co. received a claim notice of Offshore Oil Engineering Co. regarding an accident when a package of underwater cables owned by Saudi Aramco was damaged when a pipeline near it was being removed on June 25, 2019.

7) National Building & Marketing Co. signed a memorandum of understanding to fully acquire Ajeej Steel Manufacturing Co. for SAR 180 million.

8) Jadwa Investment announced that Jadwa REIT Saudi Fund invested SAR 450 million in a closed-ended Shariah-compliant private real estate investment fund.

9) Baazeem Trading Co. received letters from the General Authority of Zakat and Tax (GAZT) seeking adjustment of Zakat reports from 2014 to 2018 and pay differences of SAR 8.57 million.

10) Crude oil prices fell on Tuesday morning. Brent crude slipped 1.2 percent to $47.59/bbl, while WTI crude lost 0.9 percent to $44.95/bbl.

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