Good morning, ladies and gents. We’re halfway through the week, and the summer lull continues. Leading today’s light issue are the latest international trade figures from Gastat for 2Q and June, with non-oil exports continuing to rise, while oil exports are still weighing down our trade balance. Meanwhile, Alinma Bank and Saudi Awwal Bank are gearing up for new issuances in the debt market.

BUT FIRST- Saudi’s answer to ChatGPT is live: Humain Chat made its debut in Saudi Arabia yesterday, PIF-owned Humain said in a statement. The Arabic AI app, powered by Humain’s Arabic LLM Allam 34B model and touted as the most powerful Arabic AI to date, is now available in the Kingdom on the web, iOS, and Android. Regional and global countries are soon to follow suit, the statement said.

The app features include real-time web search, Arabic speech input supporting multiple dialects, bilingual switching between Arabic and English, conversation sharing, and full compliance with Saudi’s Personal Data Protection Law by being hosted on Humain’s infrastructure in Saudi.

Designed by Arabs, for Arabs: The chatbot is developed “by brilliant Saudi minds, and operated from the heart of the country,” CEO Tareq Amin said in a video statement, calling on users to interact with the app and share their feedback to improve its performance.

The news also got ink in Bloomberg.

HAPPENING TODAY-

The Franchise Go Forum kicks off today in Riyadh’s Siraj Convention Center to support entrepreneurs entering the franchising sector. The event will feature panel discussions with local and international experts, an exhibition connecting participants with franchisors, training workshops, and one-on-one advisory sessions.

WEATHER- Thunderstorms and heavy rain are forecast to persist over Najran, Jazan, Asir, Al Baha, and Makkah today, with light to moderate showers expected in Madinah, Riyadh, and the Eastern Province. Riyadh is expected to see a high of 43°C and a low of 30°C today, while Jeddah’s mercury will peak at 38°C and bottom out at 31°C. Makkah will see a 38°C high and 30°C low.

WATCH THIS SPACE-

The Saudi-Syrian Business Council is gearing up to launch an online platform by the end of the year, to link Saudi and Syrian investors with projects, government agencies, and trade, helping ease the flow of goods and services between both markets, Vice Chairman Abdullah Al Ghobain told Al Arabiya (watch, runtime: 8:05).

ALSO- Committees under the Saudi-Syrian Business Council will establish an office in Syria next month to support investors, the council’s Chairman Mohammad Abunayyan was quoted as saying by Aleqtisadiah during the Saudi-Syrian private sector investment forum in Riyadh.

In the agriculture sector, the council is preparing a database for investors, improving links with government bodies, and introducing support programs, according to Tareq Al Jammaz, a member of the Agriculture Committee at the Saudi-Syrian Council. Vegetables make up 65% of Syria’s agricultural exports to the Kingdom, Al Jammaz noted.

DATA POINTS-

Sakani reported over 580k bookings across 623 off-plan housing projects, with available supply exceeding 248k units, state news agency SPA reported yesterday, citing the program’s latest data. The platform also logged more than 4.4 mn visits and over 4.6 mn users.

SPORTS-

It’s a wrap on the Esports World Cup, with the event attracting over three mn visitors to Boulevard City Riyadh, up from 2.6 mn last year, the Esports World Cup Foundation CEO Ralf Reichert posted on LinkedIn. Over 2k players from 100 countries representing more than 200 clubs competed in 24 games with 25 separate tournaments at Boulevard City.

The seven-week event posted 350 mn hours watched, up from 250 mn last year with 750 mn in global viewers, compared to 500 mn last year, and about 8 mn concurrent viewers during League of Legends Finals, compared to 6.3 mn last year. The 2025 edition posted a 70% y-o-y increase in the volume of tickets sold, causing revenues from tickets to double compared to last year, Reichart said.

Crown Prince Mohammed bin Salman handed homegrown Falcons the Club Championship trophy, while they took the grand prize of USD 7 mn in their second consecutive win, topping the standings with 5.2k points across 22 tournaments. The Netherlands’ Team Liquid came in second place (4.2k points) and France’s Team Vitality in third spot (3.2k points), the Esports World Cup Foundation said on LinkedIn.

International stars spotted included, Cristiano Ronaldo as official global ambassador, Neymar Jr, and Gareth Bale from the football world, while musician performers saw the US superstar Post Malone headline the opening concert, along with K-pop Dino from Seventeen, DJ Snake, Nancy Ajram, and Myriam Fares. Legendary video game creator Hideo Kojima was also a special guest.

Looking ahead: The EWC 2026 will focus on growth in every aspect, Reichert told AsharqBusiness, adding that EWC 2024 was about proving the concept, while EWC 2025 was about scaling and improving. A bigger venue is also in the cards for next year’s event to accommodate the increasing numbers of visitors and players, COO Mike McCabe said.

ICYMI- The Foundation unveiled a new biennial tournament, the Esports Nations Cup (ENC), set to debut in Riyadh in November 2026. The Nations Cup will feature over 100 national teams competing in over 15 games, qualifying between 32-64 teams in individual or group games, Chief Product Officer Faisal bin Homran told Asharq Business.

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THE BIG STORY ABROAD-

The Federal Reserve is in The Donald’s crosshairs again, this time with the US president firing governor Lisa Cook on claims of mortgage fraud. The legally-dubious move — as presidents can’t fire Fed governors without “cause” — came after days of back-and-forth with Cook, who said earlier Trump’s “bullying” will not force her to resign.

Markets were not happy: The latest threat to the Fed’s independence stoked market fears, sending Wall Street futures into the red following a losing session on Monday.

MEANWHILE- A new coffee giant is coming: US-based Keurig Dr Pepper is taking over JDE Peet for USD 18 bn, in what is set to be the largest M&A transaction in Europe in more than two years. The price is a 20% premium to the Dutch company’s last closing price, with Keurig Dr Pepper aiming to merge with JDE and split coffee operations and other beverage products into two US-listed companies.

CLOSER TO HOME- Two back-to-back Israeli strikes on Nasser Hospital in Southern Gaza killed at least 20 people, including rescue workers and five journalists. Among the killed were Mariam Dagga, a visual journalist for the Associated Press, as well as Reuters contract photographer Hussam al-Masri, Al Jazeera cameraman Mohammed Salama, and freelance reporters Moaz Abu Taha and Ahmed Abu Aziz.

ALSO WORTH READING THIS MORNING-

  • Intel warns: Trump’s recently-acquired stake could harm international sales and future government grants, according to a securities filing. Trump is saying he wants more agreements with “healthy” US companies. (Reuters)
  • Elon Musk is suing Apple and OpenAI, claiming the agreement to integrate ChatGPT in Apple’s product is harmful to competitors like his startup xAI. (Financial Times)

CIRCLE YOUR CALENDAR-

Aviation Impact Middle East will take place on Thursday, 16 October at the Hyatt Regency Riyadh Olaya, bringing together senior leaders from airlines, airports, and OEMs, as well as government officials. The summit — organized by Aviation Business Middle East and powered by GE Aerospace — will feature panel discussions on airport development, aerospace clusters, fleet modernization, and sustainable aviation fuels.

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