‎10 things to watch on Tadawul today

‎10 things to watch on Tadawul today

Here are a few things you need to know as Saudi stocks start trading on Thursday.

1) US Federal Reserve raised interest rates by 75 basis points (bps), the largest move it has made since 1994 to rein in rising inflation.

2) Saudi Central Bank (SAMA) raised its reverse repo rate by 50 basis points (bps) to 175 bps from 125 bps. It also lifted its repo rate to 225 bps (2.25%) from 175 bps.

3) Arabian Centres Co. (ACC) signed two agreements with Riyad Capital to establish two closed-end, Shariah-compliant real estate funds valued at SAR 6.2 billion.

4) Saudi Automotive Services Co.’s (SASCO) shareholders approved the board’s recommendation to pay an additional cash dividend at 2.5% of capital for 2021.

5) Shareholders of Alkhaleej Training and Education Co. approved the board of directors’ recommendation on paying no dividends for 2021.

6) Alkhaleej Training and Education Co. intends to repurchase 300,000 of its ordinary shares to keep as treasury shares as part of the long-term employee incentives program for senior executives.

7) Maharah Human Resources Co. said that OHR Co. completed the acquisition of 100% of Bloovo Co. Ltd, which is 40% owned by Maharah, in a share swap transaction.

8) Wafrah for Industry and Development Co.’s