Good morning, ladies and gents. Summer is officially over and done with, but its long days took their toll on business, resulting in a very light issue this morning.

In today’s issue: We talked to experts on how the Kingdom’s growing, youthful population can become a powerhouse of non-oil growth — or a burden. Meanwhile, Cenomi Retail obtained a SAR 1.6 bn loan to refinance debt payments, following Al Futtaim’s recent agreement to join the struggling company’s shareholder base. Let’s dive in.

HAPPENING TODAY-

#1- The General Authority for Statistics is set to publish the Consumer Price Index for August 2025 today, according to the authority’s calendar. The annual inflation slowed to 2.1% y-o-y in July, down 0.2 percentage points from June, marking its lowest reading since February.

#2- The Global Infrastructure Forum kicks off today at Riyadh International Convention and Exhibition Center. The three-day event will bring together over 25 countries, 300 exhibitors, and 50 experts for panel discussions, workshops, and exhibitions covering technology, investment, sustainability, and urban development.

#3- ALSO- The three-day Money 20/20 Middle East takes off today at Riyadh Exhibition and Convention Center. The event will feature panel discussions with local and international experts, presentations from more than 450 brands and 445 speakers, networking prospects with 973 investors, and sessions for startups to pitch and scale up their ideas. It also explores innovations in payments, AI, cloud, and digital banking.

WEATHER- Fall is in the air: It’s officially fall in the Kingdom, bringing hope for relief from the summer heat. Its arrival coincides with the Qiran 19 astronomical event, marking the conjunction of the moon and the Pleiades star cluster. Heavy rain returns to pour over Makkah, Asir, Al Baha, while moderate to light showers persist over Jazan, along with air-borne dust on the Eastern Province, Riyadh, and Najran.

  • Riyadh: 40°C high / 28°C low,
  • Jeddah: 39°C high / 32°C low
  • Makkah: 43°C high / 33°C low.

HAPPENING TOMORROW-

Shares of HamadMohammed Bin Saedan Real Estate will begin trading on the Nomu parallel market tomorrow, according to a Tadawul statement. The company’s shares can fluctuate within a ±30% range for the first three days, after which price fluctuations will be capped at ±10% as circuit breakers take effect.

REFRESHER- The company priced its 15% stake post-IPO at SAR 13.5 per share, after its offering was 114.2% oversubscribed. The pricing would give the real estate player a market cap of SAR 381.2 mn bn at listing and should see it raise some SAR 57.2 mn in IPO proceeds to fund its expansion plans.

WATCH THIS SPACE-

South Africa aims to double mutual investments with Saudi Arabia from the current USD 15 bn over the next three years, Trade and Industry Minister Parks Tau told Asharq Business (watch, runtime: 4:04) on the sidelines of the Saudi-South Africa Business Forum. The Kingdom has pledged to inject more than USD 10 bn into South Africa’s economy, with several companies from both sides signing cooperation agreements during the forum.

Sectors in the spotlight: Targeted sectors include mining, chemicals, automotive, pharmaceuticals, engineering, construction, and consulting. South Africa also sees opportunities to invest in Saudi Arabia, including World Cup 2034-related construction projects and special economic zones.

Saudi-South African ties have already spurred around USD 5 bn in agreements across renewable energy, logistics, gas stations, and real estate as of April 2025. Homegrown auto distributor Jameel Motors plans to enter the South African market this year, while Aramco is among the bidders for Shell’s downstream assets, and Zahid Group is negotiating to increase its stake in Barloworld.

More in the pipeline: Acwa Power plans to invest up to USD 378 mn in the country’s water and energy sectors over the next five years, unnamed sources told Asharq. Meanwhile, Red Sea International is preparing a USD 600 mn bid for Durban port, sub-Saharan Africa’s largest, according to Ashraq’s sources, while Saudi businessman Ajlan Bin Abdulaziz Alajlan is putting USD 500 mn into a platinum smelter and refinery in South Africa’s Limpopo province.

The Kingdom closed the Arar border crossing with Iraq for over 24 hours after customs inspectors uncovered multiple smuggling attempts on pilgrims' buses, Gulf News reported on Saturday. Authorities intercepted nine buses hiding illegal items, including captagon pills in bread, vodka disguised as water, and containers of arak hidden in windshield-washer tanks.

The border crossing has a history of closures and reopenings: It was shut during the 1990 Gulf War, briefly opened in 2013, closed again shortly after, and then fully restored five years ago with significant Saudi investment.

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THE BIG STORY ABROAD-

International headlines are still dominated by the fallout from Charlie Kirk’s assassination — and now attention is turning to the suspect. Utah Governor Spencer Cox said on Sunday that 22-year-old Tyler Robinson, arrested after a 33-hour manhunt, is refusing to cooperate with investigators but will be formally charged on Tuesday. Kirk, a prominent pro-Trump activist and co-founder of Turning Point USA, was killed last week by a single rifle shot during an outdoor event at a Utah university. (Reuters | New York Times | BBC | The Guardian | Axios | Wall Street Journal)

CLOSER TO HOME- Rubio visits Netanyahu seeking answers: As Washington tries to contain the diplomatic fallout from Israel’s strike on Hamas leaders in Doha, US Secretary of State Marco Rubio arrived in Israel on Sunday for talks with Prime Minister Benjamin Netanyahu. Rubio — who met Qatar’s prime minister on Friday — is now seeking answers on “what the future holds” in Gaza and how to revive hostage and ceasefire negotiations derailed by the Doha attack. (Reuters | Politico | Associated Press | Axios | The Guardian | New York Times)

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