Saudi’s sports sector is expected to reach SAR 85 bn by 2030

Good morning, everyone. We celebrate the news this morning of an indefinite ceasefire extension between the US and Iran, after US President Donald Trump made the announcement hours before the ceasefire was set to expire. The extension gives the two nations more time to continue negotiations.

How indefinite are we talking? Trump said the ceasefire will be extended until Iran submits its proposal and “discussions are concluded, one way or the other.” Washington’s blockade will continue until an agreement is reached.

It remains unclear where Iran stands: In the absence of a response from Tehran’s top leadership, Iran’s Tasnim News Agency stated that Tehran never sought a ceasefire extension and reiterated threats to break the US blockade of its ports by force. An adviser to Iran’s lead negotiator dismissed Trump’s announcement as insignificant.

As expected, global oil prices retreated on the news, despite an initial uptick at the opening of Asian trading earlier this morning. Brent crude is currently down 0.4% to USD 98.09 per barrel.

Mixed market response: The MSCI Asia Pacific ex-Japan Index eased 0.14%, dropping from a seven-week high. Japan’s Nikkei gained 0.5%, and South Korea’s Kospi eased around 0.6% in early trading this morning. US stocks are set to open in the green, with futures recording gains across the board.

We will be closely watching how local and regional markets react to the news when they open in a few hours.

Meet EnterpriseAM MENA+, our new flagship newsletter covering the flows of capital, people, and ideas across the Middle East — and beyond it. MENA+ covers AI and tech — and geopolitics, the war for talent, which BSD is on top (and who's gunning for them), the changing energy economy, new corridors to India and China, and much, much more.

What’s with the “+” in MENA+? We think one of the most powerful stories in the region is the *export* of ideas and capital not just to neighboring regions (Asia, the Stans) but to international financial centers. MENA countries are jockeying for position in the new global economy now taking shape, and we're going to shape that conversation.

Tap or click here to get your own copy delivered to your inbox every Monday, Wednesday, and Friday at 12pm UAE | 11am KSA | 10am Egypt.

Watch this space

SPORTS — Saudi Arabia’s sports sector is expected to expand to SAR 85 bn by 2030, with current potential investments in the market totaling SAR 18 bn, the Investment Ministry’s Director of Sport Investment Development Basim Ibrahim told Asharq Business (watch, runtime: 4:43) on the sidelines of Riyadh’s Sports Investment Forum 2026.

Preparing for the 2034 World Cup: The ministry is working on launching several windows, including projects linked to sports infrastructure and preparations for hosting the 2034 World Cup. They include at least 135 training campsites across the Kingdom, with investment per site estimated at SAR 20-40 mn, bringing total expected investment to around SAR 5.4 bn.

What’s next? The ministry just launched a SAR 1 bn investment window to develop a sports city in the Eastern Province. Companies can submit proposals for the upcoming projects and begin development without waiting for formal tender rounds, as the camps form a core part of World Cup infrastructure requirements.

Why it matters: The SAR 5.4 bn training camp program signals the Kingdom’s intention to involve the private sector extensively in World Cup preparations, aiming to boost its local capabilities and economic development simultaneously. It also shows a shift toward faster execution, with developers able to submit proposals directly instead of going through traditional tender processes.

OIL — Yanbu crude loadings dropped to 3.5 mn bbl / d last week, down 17% w-o-w and the lowest since mid-March. The decline is a sharp pullback from the early-April run rate of 4.2 mn bbl / d — brushing up against a 4.3 mn bbl / d record set in late March.

Why Yanbu matters: It has effectively become the Kingdom’s only crude export valve while flows through Hormuz remain constrained.

The caveat: Kpler points to a shift away from VLCC-heavy loadings toward Aframax and Suezmax cargoes in the week of 13 April — a smaller average cargo size translated directly into lower headline throughput.

Infrastructure isn’t the constraint — at least on paper, with the East-West pipeline back at 7 mn bbl / d after repairs from being hit. But the port hasn’t sustained throughput above its 5 mn bbl / d nameplate capacity.

SPORTS — PIF-backed LIV Golf has rebranded its team, formerly known as Smash GC, as OKGC, which will be based in Oklahoma and led by Talor Gooch, according to a press release. The move makes OKGC the league’s first team “aligned with a US market.” The team is set to make its competitive debut during the LIV Golf Virginia tournament, held in early May.

Data point

43.6 mn — that’s the number of digital transactions the Absher platform processed in March, the Saudi Gazette reports, citing Interior Ministry data. Individuals completed more than 41.3 mn transactions, including 31.2 mn via digital wallets, while businesses carried out nearly 2.2 mn transactions.

***You’re reading EnterpriseAM Saudi, your essential daily roundup of business, economics, and must-read news about Saudi, delivered straight to your inbox. We’re out Sunday through Thursday by 7am Riyadh time.

EnterpriseAM Saudi is available without charge thanks to the generous support of our friends at Tas’heel and Hassan Allam Properties.

Want to send us a story idea, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on saudi@enterpriseAM.com.

DID YOU KNOW that we also cover Egypt, the UAE, the MENA logistics industry, and the MENA <> India corridor?

Were you forwarded this email? Tap or click here to get your own copy of EnterpriseAM Saudi delivered every weekday.
***

The big story abroad

The global front pages are focused on Trump’s announcement of an extended ceasefire between the US and Iran, which we dive into in the news well, above. Also making headlines this morning:

How did Warsh’s confirmation hearing go? Trump’s Fed chair nominee Kevin Warsh affirmedthe Fed’s independence during his Senate confirmation hearing, stating that Trump has not attempted to “predetermine, commit, fix or decide on any interest rate decision.” Warsh called for major reforms at the Fed, including a new framework for handling inflation, and took issue with the central bank’s “forward guidance” — the practice of signaling the future trajectory of rates.

And your daily dose of AI news: SpaceX has gained the “right to acquire” AI startup Cursor for USD 60 bn, agreeing to pay USD 10 bn if it does not proceed with the transaction. The potential acquisition of Cursor — which enables users to edit code with AI — is seen as a way for Elon Musk to catch up in the AI race ahead of SpaceX’s IPO.