China begins anti-monopoly probe into tech giant Alibaba
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Jeddah – Yasmine El Tohamy – Here are a few things you need to know as Saudi stocks start trading on Thursday.
1) The Capital Market Authority (CMA) referred 11 investors, who are suspected of violating Article (49) of the Capital Market Law and Article (2) of the Market Conduct Regulations, to the public prosecution.
2) Al Yamamah Steel Industries Co.’s board of directors recommended a 10 percent cash dividend for the FY 2019/2020, amounting to SR50.8 million ($13.55 million).
3) The CMA approved Aljazira Takaful Taawuni Co.’s request to increase its capital from SR350 million to SR470.66 million by issuing 12.07 million ordinary shares to merge with Solidarity Saudi Takaful Co.
4) Al-Samaani Factory for Metal Industries Co.’s board of directors recommended a 5 percent cash dividend, amounting to SR1.25 million, for FY 2020.
5) Al Jouf Cement Co. signed a SR60 million sales contract with Soliman bin Saleh Almohileb and his Sons Holding Co.
6) Lazurde Company for Jewelry postponed its first and second extraordinary general assembly meetings, scheduled for Dec. 22, due to lack of quorum.
7) Brent crude on Thursday morning rose 20 cents to $51.40 per barrel, while WTI edged up 16 cents to $48.28/bbl.
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