Good morning, everyone. Today’s issue is full of positive updates from Gastat, as preliminary data shows net FDI inflows in the first quarter logged a y-o-y increase of over 40%. Meanwhile, strong participation from women is also driving down Saudi unemployment figures to an all-time low.

Also in this morning’s news well: Nomu-listed Azm and Obeikan Glass got the green light to move to Tadawul’s main market, coinciding with structural updates to equity tick sizes and stock split procedures. Let’s dive in.

WEATHER- Riyadh is expected to see a high of 45°C and a low of 32°C today, while Jeddah’s mercury will go as high as 41°C and as low as 29°C. Makkah will see a 42°C high and 34°C low.

PSAs-

#1- Title deed registration for 21 neighborhoods in Makkah will run from 13 July to 16 October, according to a statement by the Real Estate General Authority. Property owners with valid title deeds may complete the process online on the Real Estate Registry website or by visiting a service center.

#2- Today is the last day for companies to submit their annual financial statements for the fiscal year that ended 31 December via the Qawaem platform, the Commerce Ministry said in a statement. Late filers could face financial penalties.

WATCH THIS SPACE-

The World Bank sees Saudi Arabia’s GDP growth rising gradually to reach 4.6% by 2027, supported by the phase out of Opec+ production cuts and strong non-oil activities, World Bank Country Director for the GCC Safaa El Kogali told Argaam. The non-oil sector is expected to remain a key growth driver for the Kingdom in the coming years, “buoyed by government initiatives to enhance infrastructure, attract investment, and promote private sector development,” El Kogali said.

The non-oil sector was also a “key highlight” of the Kingdom’s performance last year, with the sector showing a level of resilience that “reflects the progress made in diversifying the economic base and enhancing the role of services and domestic consumption,” El Kogali said.

REMEMBER- The World Bank maintained its growth forecasts for Saudi Arabia at 2.8% in 2025 and 4.5% in 2026 in its Global Economic Prospects report earlier this month, leaving them unchanged from its previous forecast back in April. The forecast for the current year reflects the gradual expansion of oil production, the report said.

A new Saudi-Egyptian ro-ro shipping line could be in the cards: Egypt is looking to launch a new ro-ro shipping line with the Kingdom — in addition to another one with Turkey — before the year’s end, Egypt’s General Authority for Investment and Freezones head Hossam Heiba told Asharq Business. The ro-ro shipping line — which aims to reduce shipping costs and time — will be primarily used to transport perishable agricultural products, heavy machinery, and vehicles.

SOUND SMART- A roll-on/roll-off maritime line — known more commonly as just a ro-ro line — loads and unloads cargo using either trucks or platform vehicles and then unloads them using the same set of wheels. Instead of the more laborious use of cranes and containers, using a ramp and wheeled cargo helps to dramatically reduce shipping times and, in turn, cut down costs — especially for short routes across the Mediterranean or the Red Sea.

Asia’s largest budget airline AirAsia plans to set up a new hub in the GCC this year at a yet-to-be-determined Gulf airport, CEO Tony Fernandes told the Financial Times. The move would utilize the region’s proximity to Europe to support the Malaysia-based airline’s plans to expand its network to more European destinations, using “a one-stop and multi-hop strategy,” Fernandes noted.

AirAsia’s been on PIF’s radar: The Public Investment Fund (PIF) has been eyeing a USD 100mn investment in AirAsia since March, which would make it the largest contributor to the carrier’s USD 226 mn fundraising target if the investment went through. However, the investment hasn’t been locked in yet, with the announcement awaiting consent letters, Fernandes told Reuters earlier this month.

El Attal Holding to develop real estate project in the Kingdom: Egyptian real estate developer El Attal Holding will build 800-1.2k residential units in a new compound north of Riyadh targeting upper-middle-income buyers, in cooperation with the National HousingCompany, Chairman Ahmed El Attal told Asharq Business last Saturday.

SPORTS-

#1- Goodbye, Gold Cup: Our national team lost 0-2 to Mexico yesterday, exiting the Concacaf Gold Cup in quarterfinals. The Green Falcons resisted several attempts at goal by Mexico throughout the first half, but Alexis Vega took a rebound and slid the ball between the legs of Al Aqidi to find the net four minutes into the second half. The final result came after an own goal by Abdullah Madu in the 81st minute.

#2- John Cena retained the Undisputed WWE Championship against CM Punk at Riyadh’s WWE Night of Champions, WWE said in a statement. Cody Rhodes also defeated Randy Orton in a hard-fought King of the Ring final, and is set to meet Cena in a SummerSlam rematch in the US. On the women’s side, Jade Cargill captured the Queen of the Ring crown after defeating Asuka, while Rhea Ripley beat Raquel Rodriguez in the first-ever women’s street fight held in the Kingdom.

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THE BIG STORY ABROAD-

Israel’s attack on Iran’s Evin Prison killed dozens: Israel’s attack on Tehran’s Evin Prison last week killed 71 people, Iranian judiciary spokesperson Asghar Jahangir confirmed yesterday. The prison holds political prisoners and foreigners, marking a shift from Israel’s attacks on military and nuclear sites. Victims included administrative staff, military conscripts, detainees, visiting family members, and nearby residents. (Reuters | New York Times | Associated Press | France24)

AND- Another DeepSeek? Chinese tech giant Baidu will open source its Ernie generative AI model today, in what experts are calling China’s biggest AI move since DeepSeek. While some analysts see it as a challenge to US giants like OpenAI and Anthropic, others say its global impact will hinge on security concerns and market trust. “Baidu just threw a Molotov into the AI world,” Epic Loot founder Alec Strasmore told CNBC, adding that it could trigger a price war in AI services.

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