Good morning, wonderful people. Inflation and industrial production figures are leading this morning’s news well, in addition to updates from Mawani, the PIF and more.

BUT FIRST- It’s quite an unexpectedly eventful morning today: US President Donald Trump announced that Israel and Iran had reached a tentative ceasefire, hinting at a complete “end” to hostilities after 24 hours.

The announcement came hours after an Iranian strike on Qatar targeted the US’ Al Udeid military airbase. The missiles were intercepted and caused no injuries or casualties, but had led to a brief closure of airspace in Qatar, the UAE, Bahrain, and Kuwait.

Most analysts argue that the move was largely symbolic, and that Qatari officials were aware they would take place. While Trump characteristically dismissed the strikes as a “very weak response,” he less characteristically thanked Iran for giving it advance notice to avoid any loss of life and called for both Israel and Iran to seek peace. (Reuters | Bloomberg | Associated Press | New York Times | Washington Post | Guardian)

The ceasefire might still not be in place: Iranian Foreign Minister Abbas Araghchi said on X that no ceasefire agreement has been reached as of 3:45am this morning, while adding Iran has “no intention to continue our response” if Israel ceases its attacks.

Ceasefire news sent oil prices tumbling 5%, with Brent futures closing at USD 71.48 a barrel. Stocks cheered the news, while safe haven assets like the USD fell in a risk rally. We have more on the market response in this morning’s Planet Finance, below.

Still, the turbulent events leading up to the ceasefire left their mark. Prominent financial institutions pulled staff and family members from the Middle East, amid concerns over regional stability, Reuters reported earlier yesterday. Mitsubishi UFJ Financial Group evacuated family members of staff based in Dubai and Riyadh, and was reportedly considering allowing employees to depart at their own discretion, depending on how the situation evolves. Mizuho Financial Group was also evaluating contingency options, including potential staff withdrawals, and JPMorgan is only allowing essential travel to the region.

HAPPENING TODAY-

The two-day Tech-ecO-System Summit kicks off today in Riyadh. The event, held under the theme For Tomorrow, brings together more than 30 speakers and 150 attendees across over 15 industries to discuss market insights, emerging technologies, and potential JVs.

WEATHER- Riyadh is expected to see a high of 42°C and a low of 28°C today, while Jeddah’s mercury will go as high as 38°C and as low as 29°C. Makkah will see a 42°C high and 29°C low.

HAPPENING TOMORROW-

The two-day Najran Investment Forum gets underway tomorrow at Prince Mishaal Conference and Events Center in Najran. The two-day event will gather over 2.6k national and global participants to explore potential investments in the province’s resources .

WATCH THIS SPACE-

#1- Gulf IPOs + debt offerings might need to wait for calmer waters: Deutsche Bank, which has quarterbacked several of the region’s high-profile capital market plays, is advising its clients to hold off on equity and bond offerings in this part of the world until regional markets regain stability, the lender’s MENA CEO Jamal Al Kishi told Asharq Business in an interview (watch, runtime: 1:30). The bank is encouraging issuers to adopt a wait-and-see approach given recent market jitters.

Bearish on the near term, bullish on the long run: While Gulf exchanges, particularly those of Saudi Arabia and the UAE, have been among the most active IPO venues globally in recent years, Al Kishi expects a slight slowdown in the near term. That said, he still anticipates strong momentum for public offerings over the next two to three years.

IN CONTEXT- Investment bankers have said that IPO pipelines in the GCC remain intact, noting that there has been no material pullback following the Israel-Iran flare-up. Market watchers say smaller, domestically focused IPOs are moving ahead, while larger, government-backed offerings could face delays if regional volatility persists.

#2- Americana confirms plans to buy stake in Cravia: Tadawul- and ADX-listed F&B giant Americana Restaurants International confirmed it is in early talks to acquire a stake in Dubai-based Cravia, the MENA operator of Five Guys, Cinnabon, and Zaatar w Zeit, according to a disclosure (pdf). No details on the value, size, or timeline of the acquisition were disclosed.

ICYMI- Americana was reported to be in initial talks for the move last week with Dubai-based private equity firm Fajr Capital, which owns an undisclosed stake in Cravia as of 2016.

#3- ASX E-Mobility’s electric vehicle charging network E-Fill introduced public tariff pricing at its fast-charging stations across the Kingdom, according to a press release. It now offers a standardized price of SAR 0.99 per kWh, with the platform also offering real-time station location, digital session activation, instant payment, and full usage tracking.

There’s more: E-FILL is also partnering with Aramco, AlDrees, and Orange Petrol Stations to expand its fast-charging network nationally. It will also expand its tariff pricing – currently available in Riyadh, Jeddah, and the Eastern Province – in the upcoming months.

DATA POINTS-

The Kingdom has registered nearly 6k new urban heritage sites so far this year, bringing the total to 31.2k, the Heritage Commission said on X on Sunday. Aseer accounted for the largest share with 3.9k sites, followed by Qassim (761), Al Baha (499), Makkah (483), Riyadh (258), Hail (60), Jazan (8), Al Jouf (4), and the Eastern Province (3).

SPORTS-

Al Hilal plays out goalless draw against Red Bull Salzburgin: Al Hilal and Austrian Red Bull Salzburg endedSunday’sgame on a clean sheet at Audi Field in Washington, DC, in their group’s second round of the Fifa Club World Cup 2025, state news agency SPA reported yesterday. Al Hilal will meet Mexico’s Pachuca in the group’s final round on Friday, 27 June.

ALSO- Saudi advances to Gold Cup quarterfinals: Our national football team drew 1-1 withTrinidad and Tobago in Sunday’s Concacaf Gold Cup game in Las Vegas, securing a ticket to the quarterfinals, state news agency SPA reported yesterday. Saudi Arabia is set to face Mexico on Sunday, 29 June, after securing Group D’s second place after the US.

Why is Saudi in Concacaf? Our national team is participating in the North, Central America, and Caribbean regional tournament upon an invitation from the Concacaf as part of a partnership agreement signed with the Public Investment Fund last August.

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