Saudi banks likely to maintain strong performance over 2021, says top official

Saudi banks likely to maintain strong performance over 2021, says top official
Saudi banks likely to maintain strong performance over 2021, says top official

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

1) National Co. for Learning and Education’s (NCLE) shareholders approved the board’s recommendation to distribute 8% cash dividend, at SAR 0.80 per share, for the fiscal year ending Aug. 31, 2020.

2) Swicorp Wabel REIT Fund reported a net profit of SAR 9.2. mln (SAR 0.08/unit) for Q4 2020, compared to SAR 2.5 million a year earlier.

3) Mulkia Gulf Real Estate REIT Fund started a legal action against Saba Real Estate Co. Ltd., the tenant of Jeddah Dinar Commercial Building, requesting payment of the rental dues owed to the fund.

4) Al-Samaani Factory for Metal Industries Co. rebranded into Sadr Logistics Services Co.

5) United Cooperative Assurance Co. (UCA) approved the election of new board of directors for the upcoming three-year term, ending Jan. 12, 2024.

6) The General Authority for Competition (GAC) imposed a fine of SAR 3 million on National Gas and Industrialization Co. (GASCO), as the company abused its dominant position.

7) Brent crude on Friday declined $1.32 to reach $55.10 per barrel. WTI crude also decreased $1.21 to reach $52.36/bbl.

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