Around 16 Saudi firms listed in the local capital market have announced the fiscal results of Q4 2018.
The results showed a growth exceeding 5.7 percent, which makes it likely for other listed companies to achieve positive growth in the same period.
Giant Saudi companies would reveal fiscal outcomes of Q4 2018 during next week’s trading. The results will likely impact trading on the local market, deals and liquidity.
Tadawul All Shares Index on Thursday dropped 0.4 percent at the close of trade at 8,435 points, amid trading value of around SAR2.7 billion (USD720 million).
Meanwhile, the Saudi Arabian Monetary Authority (SAMA) said it lifted a ban on Saudi Enaya Cooperative Insurance Company (Enaya) to issue or renew insurance policies, starting Thursday. SAMA noted that its decision came after Enaya resolved the problems that had caused the ban.
There are forecasts that the Saudi companies’ fiscal results of Q4 2018 will be better compared to the same period in 2017. The Saudi economy is forecast to witness more growth in 2019, compared to last year.
