Houthis blockade Saudi Red Sea trade

1

WHAT WE’RE TRACKING TODAY

Tawal could soon become one of the Middle East’s largest telecom tower owners

Good morning. The line we’ve all been watching for got crossed yesterday: the Houthis declared a naval blockade on Saudi Arabia, effective immediately, with spokesperson Yahya Saree naming the Kingdom directly and calling the move an “eye for an eye” for what the group describes as a Saudi siege on Yemen. This is a different animal from earlier campaigns which mostly targeted Israel-linked shipping through Bab Al Mandeb — this one is aimed squarely at the Kingdom's oil escape route around Hormuz. We have the full read below, but the short version: the workaround that spared Saudi the worst of the Hormuz squeeze could be in jeopardy.

Life, and the domestic economy, go on beneath the headline. Real estate prices ticked back up in 2Q, rising 1.3% y-o-y and reversing two straight quarters of declines — with Riyadh up 4.2% despite the government’s efforts to cool the capital. And the big banks all moved the same way, up but modestly, with Riyad Bank, BSF, ANB, and Albilad each growing net income even as funding and operating costs capped gains.

The EnterpriseAM Egypt Forum is back — and this year, we're giving the full day to the one question on every business leader's mind: What does AI actually mean for your company, your people, and your own job?

Leaders in New York, London, Abu Dhabi, and Singapore are asking the same things, and nobody has built a playbook that works yet. We're all figuring it out in real time — and for Egypt, the stakes are unusually high.

Egypt could leapfrog a generation on the back of this technology — or watch AI hollow out the industries and jobs we can't afford to lose. The leaders who get literate early will be the ones who get to decide which road we take.

Every session on stage answers one question: "So, what do I actually do about it?"

Join us on 5 October in Cairo. Seats are limited and attendance is by invitation only. Request your invitation here.

Tawal to buy thousands of tower sites?

PIF-backed telecom tower operator Tawal is reportedly in discussions to acquire more than 10k mobile tower sites from Mobily, Semafor reports, citing unnamed sources. The transaction could be announced later this year if talks progress, and would make Tawal one of the Middle East’s largest telecom tower owners.

REMEMBER- PIF wrapped up its USD 2.3 bn (SAR 8.9 bn) acquisition of a 51% stake in telecoms giant Tawal back in February 2025, in what was the single largest PE transaction of 2024. The acquisition served as part of the fund’s strategy to nurture local companies and transform them into financially sustainable global champions.

What’s next? Tawal is expected to start gearing up for an IPO in 2027 or 2028, according to the sources.

Riyadh megaproject courts private capital

New Murabba launched a request for proposals (RFP) for three investment prospects within one of its mixed-use communities as the Public Investment Fund-backed developer looks to increase private-sector participation in Riyadh's new downtown district, according to a statement seen by EnterpriseAM. The offering includes two land-sale prospects and one joint venture development window in the metropolitan core of the master plan.

Why it matters: The RFP is the latest sign that New Murabba is moving beyond enabling works and into attracting private developers and investors to help deliver the multi-decade project. It also reflects the Kingdom's broader push to use private capital alongside state funding to advance large-scale urban developments.

The wider picture: The investment launch follows New Murabba's return to procurement activity earlier this year, when the developer revived plans to tender major construction packages for The Mukaab, the 400-meter cube-shaped centerpiece of the estimated USD 50 bn development. We previously reported that contractor proposals are expected in 2027 as the project progresses toward its next construction phase.

PIF-backed Warner Bros. takeover on ice?

A US federal Judge has temporarily paused Paramount Skydance’s Gulf-backed acquisition of Warner Bros. Discovery, citing a “strong showing” that it unlawfully hampers competition, Reuters reports. A hearing scheduled on 3 August will determine whether to pause the takeover until a trial decides if it violates federal antitrust law.

What now? The USD 110 bn merger — backed by the Public Investment Fund, the Qatar Investment Authority, and Abu Dhabi’s L’imad Holding — will cost Paramount mns of USD in so-called ticking fees, owed to Warner Bros. shareholders, for every day past September it is not closed. An adverse court ruling could kill the sale, forcing Paramount to pay a USD 7 bn termination fee on top of USD 2.8 bn already paid to push away Netflix’s bid.

ICYMI: This is a direct outcome of last week’s move by 12 US states to file an antitrust lawsuit claiming that the proposed merger would hamper competition and harm cinemas and television distributors.

Data point

USD 1.6 bn — that’s how much net foreign capital flowed into Saudi equities in 2Q, making it the only GCC market to attract inflows while every other regional exchange posted net selling, according to a Kamco Invest report. The GCC recorded USD 1.2 bn in net foreign capital in 1H, a 83% y-o-y dip.

***

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 [email protected].

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

International dailies have their hands full with geopolitical and business updates today, leading with blow-by-blow coverage of the regional war.

Yesterday marked the US’ 10th consecutive night of strikes on Iran, as US forces targeted the country’s capability to disrupt shipping in the Strait of Hormuz, the US Central Command said. US President Donald Trump vowed that Iran would “pay” for killing US soldiers last weekend in Jordan and Iraq.

Andy Burnham became Britain’s seventh prime minister in 10 years, succeeding his Labor Party predecessor Keir Starmer. The former mayor of Manchester pledged to restore the stability previous PMs failed to deliver, promising immediate actions followed by a long-term economic plan later this year to boost living standards.

Is Trump’s trade war back? Washington is set to slap Canada with a 50% tariff on a wide range of goods, as senior Trump administration officials claim that Canadian provinces paused purchases of US alcohol and introduced tariffs on US automobiles. The new levy takes effect in 30 days, exempting energy, potash, critical minerals, and goods already subject to US national security duties.

Anthropic settles in copyright suit over Claude training: A US federal court approved Anthropic’s USD 1.5 bn settlement in a class action lawsuit by authors who accused the AI startup of using their books to train Claude. The case — the largest settlement in a US copyright case — is among dozens of copyright suits brought against tech companies over their LLM training models.

Houthis declare naval blockade on Saudi Arabia

Yemen’s Houthis declared a naval blockade on Saudi Arabia yesterday, effective immediately. Military spokesperson Yahya Saree named the Kingdom directly, framing the move as an “eye for an eye” response to what the Houthis call a Saudi siege on Yemen.

The corridor in question is the Bab Al Mandeb Strait at the southern mouth of the Red Sea. Some 12% of world trade and a quarter of container traffic bound for Suez pass through the 32-km-wide waterway. That is the part that matters for Riyadh, as the blockade is aimed squarely at the Kingdom’s escape hatch for its oil, unlike the group's 2023-2025 Red Sea campaign which mostly hit Israel-linked vessels.

Escape hatch? Iranian attacks effectively shut the Strait of Hormuz in late February, and the Kingdom’s entire contingency has been to pump crude overland to the west. Aramco pushed its East-West pipeline to a record 7 mn bpd — converting parallel NGL lines to crude service to get there — sending as much as 5 mn bpd for export through the Red Sea port of Yanbu. Loadings at Yanbu climbed from about 1.1 mn bpd in February to more than 4 mn bpd by March. That western route is the relief valve that has kept Saudi barrels, and a chunk of global supply, reaching market while the Gulf coast sat blocked.

Why it matters: For the first time in the Iran war, both of Saudi’s saltwater exits are threatened at once. Hormuz to the east is still near a standstill, and now Bab Al Mandeb to the west is under a declared blockade.

Dire straits: A full closure of Bab Al Mandeb could remove some 7% of global oil supply on top of the roughly 10% the war has already taken out — and it strips away the redundancy that let Riyadh reroute in the first place. The Kingdom has no third corridor of comparable scale, and our ability to continue shipping oil is cited by almost all pundits as what is going to save us from contraction and a severe economic slump this year. Kuwait, Qatar, and Iraq have no alternatives to Hormuz at all.

The cargo hit would be just as real. A full closure would badly disrupt Red Sea freight — and Saudi is doubly exposed because the Hormuz shutdown has already funnelled much of the Kingdom’s seaborne cargo into the Red Sea, Vespucci Maritime CEO Lars Jensen tells EnterpriseAM. The only fallback is to route around Africa, “severely impacting capacity available,” particularly for the niche carriers still working the lane, Jensen says.

BUT- That remains a big if: Omar El Shenety, managing partner at Zilla Capital and head of the Financial Markets Unit at ECES, sees the announcement as leverage rather than an actual shutdown. “I am not sure how effective this blockade will be. Most likely it will be a symbolic action to pressure Saudi Arabia and other Gulf countries to help in ending the current war,” he tells EnterpriseAM.

Still, declaring a blockade is not nothing. The news alone reportedly spiked war risk premiums for ships to some 0.75% of a vessel’s value yesterday, up from last Friday’s figure of about 0.3%, Reuters reports, citing unnamed sources.

Not known for accuracy: Saudi-linked ships and those visiting Red Sea ports face a high risk of attack due to mistaken identity. Maritime security firm Ambrey noted this risk stems from how the Houthis acted during the 2024 Red Sea crisis, where they frequently targeted vessels based on outdated company data.

Riyadh’s response? The Saudi Foreign Ministry condemned Saree’s announcement, denying the claim that the Kingdom has laid siege on its southern neighbor, SPA reports. In a statement, the ministry said that it actively supported Yemen through financial aid, energy supplies, and massive humanitarian shipping inflows.

Real estate prices return to growth in 2Q after two quarters of decline

The Real Estate Price Index is back up in 2Q 2026, rising 1.3% y-o-y and reversing the only two straight quarters of declines in the past five years, according to the latest report (pdf) from Gastat.

Riyadh prices climbed back in 2Q, up 4.2% y-o-y after a 4.4% dip in 1Q — a rebound that cuts against the government’s push to cool the capital’s housing costs via reforms like the White Land Tax and rent freezes.

A 20-point spread separated the fastest riser from the fastest faller. Al Jawf led the regional gains, up 10.4%, followed by the Northern Borders (up 4.6%) and Riyadh. Some regions, however, moved against the broader trend, with Hail seeing the steepest decline at 10.1%, followed by Qassim (down 5.4%), Madinah (down 4.5%), and Al Baha (down 2.8%).

By sector: Residential prices rose 2.6% y-o-y, though gains were uneven: residential land climbed 6.3%, apartments 1.1%, and floors 0.4%, while villa prices fell 9.7%. Agricultural prices rose 11.3%, driven entirely by an 11.3% increase in agricultural land. Commercial prices moved the other way, down 3.2% y-o-y. The sector carries a 25.4% weight in the index, so its slide blunted the headline increase. Commercial land fell 3.5% and buildings 0.6%, while showrooms and shops edged up 0.4%.

Prices rose faster on a quarterly basis, up 3% from 1Q 2026. Residential led with a 3.7% q-o-q gain on higher land and apartment prices, even as villas fell 2.1% and floors slipped 1.1%. Commercial prices rose 1% and agricultural prices rose 1.3%.

REMEMBER- The residential sector was going through a period of adjustment in 1Q, during which transaction values had dropped 4.5% y-o-y. High land costs and a cautious market had buyers walking away from large villas toward smaller, high-liquidity apartments in the SAR 300-500k range. Major cities including Riyadh are contending with supply constraints across several segments, especially corporate space.

Worth watching: The return to hostilities could deepen the “wait-and-see” stance among buyers, particularly with affordability still a barrier. As for the recently finalized foreign ownership rules and zones, meant to draw outside capital into Saudi property, foreign investors were expected to start deploying by September, Coldwell Banker Saudi Arabia CEO Youssef Khattar told us. It’s unclear how recent escalations affect that timeline.

Big banks edge higher + Nadec squeezed by feed, shipping costs

The Kingdom’s big banks moved in the same direction this quarter — up, but not by much. Riyad Bank, BSF, ANB, and Albilad each grew net income between 2% and 6.5%, with rising funding and operating costs keeping a lid on stronger lending and investment income. Nadec, meanwhile, saw its bottom line almost halved under feed and shipping cost pressure.

Riyad Bank posts modest growth

Riyad Bank recorded a 2% y-o-y increase in net income to SAR 2.7 bn in 2Q 2026, it said in a disclosure. The bank’s total income from financing grew 2.9% y-o-y to SAR 6 bn, while total investment income climbed 27.8% y-o-y to SAR 940.8 mn.

The drivers: Gains from loans, advances, and investments were the main drivers, alongside stronger trading and dividend income. Working against that were softer fee and commission income, weaker exchange income, and lower gains on the disposal of non-trading investments. Higher operating expenses — led by depreciation and investment impairment charges — also weighed.

The half-year read: 1H net income rose 3.5% y-o-y to SAR 5.26 bn, buoyed by a 4.4% lift in financing income to SAR 11.99 bn and a 22.8% increase in investment income to SAR 1.76 bn.

In the works: The bank rolled out a SAR 10 bn AT1 sukuk program last week, giving it a standing facility to issue perpetual shariah-compliant capital instruments as needed to support its capital base and liquidity management.

ANB’s loan book carries it higher

Arab National Bank (ANB) posted a 6.5% y-o-y increase in net income to SAR 1.4 bn in 2Q 2026, as a growing financing portfolio lifted core income, according to a Tadawul filing. Total financing income grew 3.6% y-o-y to SAR 3.2 bn, while total investment income dipped 4.3% to SAR 743 mn.

What lifted the books: Core lending income was the engine, with net special commission income from financing up 8.3% y-o-y. Gains on financial instruments and stronger foreign-exchange income added to the total, and a lighter charge for expected credit losses gave the bottom line further room.

One line to watch is provisioning: ANB’s credit-loss charge fell 16.7% y-o-y, which it attributes to improving portfolio credit quality. But the charge rose 33.3% q-o-q as the loan book grew, a trend worth keeping an eye on, particularly as the financing portfolio keeps expanding.

The half-year read: First-half net income rose 5.4% y-o-y to SAR 2.8 bn, buoyed by a 6.3% lift in financing income to SAR 6.3 bn and a 13.7% increase in investment income to SAR 1.6 bn, with the same portfolio growth carrying the period.

Dividends: The bank’s board approved SAR 1.3 bn in dividends for 1H 2026 at SAR 0.065 per share, with payment due on Tuesday, 4 August.

BSF climbs

Banque Saudi Fransi (BSF) saw a 6% y-o-y increase in net income to SAR 1.5 bn in 2Q 2026, as stronger lending and investment income outpaced rising costs, it said in a Tadawul disclosure. Higher net special commission income led the way, alongside stronger trading and dividend income, though softer fee income and rising costs kept a lid on the gain. Total financing income grew 3.7% y-o-y to SAR 3.78 bn, while total investment income rose 17.4% to SAR 801 mn.

The pattern holds over six months. Net income rose 4.6% y-o-y to SAR 2.87 bn, on financing income of SAR 7.47 bn (up 3.8%) and investment income of SAR 1.54 bn (up 16.4%) — the same lending-and-investment strength that carried the quarter.

Dividends: The bank will distribute SAR 1.4 bn in dividends for 1Q 2026, equivalent to SAR 0.57 per share by Tuesday, 11 August.

Bank Albilad is also up

Bank Albilad’s net income rose 3.4% y-o-y to SAR 791.6 mn in 2Q 2026, as stronger core lending and investment income outpaced rising funding costs, it said in a Tadawul disclosure. Total financing income grew 9.3% y-o-y to SAR 2 bn, while total investment income jumped 41.4% to SAR 597.7 mn.

Behind the numbers: Growth in lending and investment income carried the quarter. But the gain was tempered by higher funding costs, with the return paid on deposits and liabilities rising faster than asset income, alongside softer fee income and weaker FVSI and exchange gains.

For 1H, net income grew 4.2% y-o-y to SAR 1.5 bn, with financing income up 8.6% y-o-y to SAR 3.9 bn and a 29.2% increase in investment income to SAR 1.1 bn.

Nadec margins squeezed by feed and shipping costs

The National Agriculture Development Company (Nadec) saw its bottom line shrink 44% y-o-y to SAR 64.6 mn in 2Q, despite a 5.5% y-o-y increase in revenue to SAR 876.4 mn, it said in a Tadawul filing. And that’s with a SAR 32.8 mn non-recurring gain — from reversing impairment on old receivables collected during the quarter — flattering the bottom line.

Blame Hormuz-ramped costs: Rising feed and shipping costs plus surcharges tied to regional maritime disruptions increased cost of sales by SAR 45 mn in the quarter, pushing it up 9.2% as a share of revenue. A wider share of losses from Nadec’s Al Raie livestock joint venture and lower treasury income added to the drag.

But thank a shifting revenue mix: Revenue growth came from protein (up 99.2% y-o-y) and agriculture (up 41%), which offset a 3.7% decline in the core dairy and food processing business. Nadec frames this as a deliberate tilt toward higher-value segments.

The 1H picture tells a similar story: First-half net income also fell 27.6% to SAR 158.3 mn on revenue of SAR 1.79 bn, down 2.6%.

More planes for Riyadh Air, a Bangladesh terminal for RSGT, and new national parks up for investors

Riyadh Air grows fleet

Riyadh Air has ordered 34 widebodies from Airbus and Boeing, committing to 28 Boeing 787 Dreamliners, 20 of them the larger 787-10, and six Airbus A350-1000s, the carrier said. The 28 Dreamliners are options exercised from its 2023 Boeing order, while the six A350-1000s firm up existing purchase rights and lift its confirmed orders for that model to 31.

Riyadh Air, which flies six 787-9s and serves six cities, has been adding routes since June, launching direct flights to Madrid on Friday, three days after opening a seasonal service to Malaga.

Why this matters: The widebodies build toward Riyadh Air's target of more than 100 destinations by 2030, a pillar of Vision 2030 and the Kingdom’s push to diversify beyond oil and establish Riyadh as one of the Middle East’s main competing hubs. Committing to both Boeing and Airbus widebodies at once, rather than standardizing on one airframe, gives the airline capacity for denser long-haul routes.

RSGT expands into Bangladesh

Bangladesh debut: Red Sea Gateway Terminal (RSGT), a Sisco Holding portfolio company, inaugurated a container terminal at Bangladesh’s Chittagong Port after investing USD 170 mn, making it the Kingdom’s first international port management and operations concession, the company said on X.

The terminal is being developed under a 22-year concession agreement awarded to the company in 2023. It increased the terminal’s annual handling capacity to 600k TEUs from 250k TEUs by installing four modern quay cranes and upgrading cargo-handling equipment, Alarabiya reports.

What’s next: The company is mulling additional investments of up to USD 1 bn in Bangladesh’s maritime sector as it seeks to expand across emerging markets and grow its infrastructure and logistics business.

New national park prospects

NCVC rolls out seven new investment prospects: The National Center for Vegetation Cover Development and Combating Desertification (NCVC) launched seven investment prospects in national parks across the Eastern Province, according to an announcement on X. The center expects the package to attract more than SAR 700 mn in investment, generate returns of up to 16% with an internal rate of return of 17%, contribute more than SAR 2 bn to GDP, and create around 7k jobs.

The prospects in a nutshell: The prospects span more than 60 mn sqm across the Kingdom and cover ecotourism, agritourism, camping, caravanning, events, recreational activities, and visitor services, with investment periods ranging from five to 25 years.

Another sukuk issuance

The Finance Ministry has completed a SAR 17.2 bn sukuk issuance, the National Debt Management Center (NDMC) said in a statement. The issuance came in five tranches, ranging from five to 15 years. The ministry and the NDMC appointed HSBC Saudi Arabia, SNB Capital, Al Rajhi Capital, Aljazira Capital, and Alinma Investment as joint lead managers for the issuance.

ALSO- The center completed an early redemption of a portion of the issuer’s outstanding maturities for the years 2026 through 2030 — coming in at a value of SAR 17.1 bn.

Morgan Stanley turned the AI buildout into a bond market

Wall Street has quietly built a new bond market on top of the AI buildout, and Morgan Stanley is selling most of the paper, the Financial Times reports. The bank cracked a specific problem: how to get mainstream bond buyers — ins. pension funds, asset managers who would never touch a construction loan — to bankroll server farms. Its answer was to stand a USD-tn tech company behind the bond.

The agreement that set the template: Data-center developer TeraWulf raised USD 3.2 bn at 7.75% on a bond that Google effectively guaranteed, with most of the compute it funds already booked to Anthropic. Morgan Stanley made the paper palatable by lifting protections from project finance, routing the lease income into a locked account that pays bondholders first, and then stacking on extra collateral.

It worked well enough, it seems. The bank has since moved more than USD 40 bn in similar bonds, plus a USD 27 bn financing for Meta’s Hyperion site and a USD 35 bn chip deal for Broadcom. The reward shows up in the league tables, with Morgan Stanley’s capital-markets fees jumping to USD 2.3 bn in 1H from USD 1.4 bn a year earlier — a near-doubling that carried it past Goldman Sachs into second place globally, behind only JPMorgan, the salmon-colored paper says, citing LSEG data.

The whole structure works because of whose name is on the guarantee — which is also where the trouble starts. A hyperscaler’s promise is money-good, and the bond prices like it. Push the same structure onto the AI labs actually renting the compute — the OpenAIs and Anthropics still burning banknotes — and the credit thins fast.

The market already charges for the difference: Morgan Stanley priced one CoreWeave loan backed by a hyperscaler at 225 bps over the benchmark, and a near-identical one backed by two AI labs at 450 bps. And the pipeline is filling with more of the riskier kind.

There are also fewer hard assets underneath than there used to be. The newest structures separate the building from the chips and finance the chips against their rental contracts rather than their resale value. If the company renting the chips stops paying, bondholders are left holding a shed full of depreciating silicon.

The bigger worry is concentration dressed up as breadth. Turning data centers into tradable bonds has widened the pool of money funding AI — and tied it all to a single assumption, that demand for computing will keep climbing. “We’ll get to a place where AI infrastructure bonds are the majority of the annual supply of new-money non-investment-grade debt,” Morgan Stanley’s leveraged finance co-head William Graham told the FT. “It is the fastest-growing segment of the market and the first time to have a new segment in the market in the last 20 years.”

The tell is that some of Wall Street’s biggest lenders are edging back: Rivals don’t want to be seen leading a business that's turned data centers politically radioactive in parts of the US, and JPMorgan’s CFO said the bank looked at some of these terms and decided “we're not doing that.”

What to watch? The gap between hyperscaler-backed and lab-backed paper. As more debt leans on the labs instead of big tech, whether that spread widens is the cleanest early gauge of how nervous investors are getting. Moody’s, which is watching Anthropic’s and OpenAI’s balance sheets closely, is conceding there is no precedent for a capex cycle this size, and no playbook for what happens if it turns.

MARKETS THIS MORNING-

Asia-Pacific markets are up this morning, led by South Korea’s Kospi and Japan’s Nikkei as investors try to benefit from last week’s steep selloff. Shaping investor sentiment for the rest of the week will be the wave of upcoming big tech earnings.

TASI	10,742	+0.2% (YTD: +2.4%)
MSCI Tadawul 30	1,438	+0.6% (YTD: +3.7%)
NomuC	22,142	-0.1% (YTD: -5.0%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	4.25% repo	3.75% reverse repo
EGX30	53,126	+1.1% (YTD: +27.0%)
ADX	9.751	-0.3% (YTD: -2.4%)
DFM	5,796	-0.3% (YTD: -4.2%)
S&P 500	7,443	-0.2% (YTD: 8.7%)
FTSE 100	10,525	-0.7% (YTD: +6.0%)
Euro Stoxx 50	6,227	-0.1% (YTD: +7.4%)
Brent crude	USD 88.94	-0.3%
Natural gas (Nymex)	USD 2.85	-0.4%
Gold	USD 4,025	+0.2%
BTC	USD 65,510	+1.5% (YTD: -25.2%)
Sukuk/bond market index	910.95	0.0% (YTD: -0.9%)
S&P MENA Bond & Sukuk	151.13	-0.2% (YTD: -0.5%)
VIX (Volatility Index)	18.65	-0.6% (YTD: +24.8%)

THE CLOSING BELL: TADAWUL-

The TASI rose 0.2% yesterday on turnover of SAR 4.0 bn. The index is up 2.4% YTD.

In the green: Masar (+5.2%), Knowledge Economic City (+4.8%), and Arab National Bank (+4.2%).

In the red: Sal (-5.4%), Teco (-5.2%), and Bawan (-5.0%).

THE CLOSING BELL: NOMU-

The NomuC fell 0.1% yesterday on turnover of SAR 10.1 mn. The index is down 5.0% YTD.

In the green: Itmam Consultancy (+11.2%), Alqemam (+10.0%), and Aqaseem Factory (+8.7%).

In the red: Meyar (-7.7%), Osool and Bakheet (-7.5%), and Tam Development (-7.0%).

CALENDAR

AUGUST

30 August-1 September (Sunday-Tuesday): Saudi Paper and Packaging Expo, Riyadh International Convention & Exhibition Center.

31 August-3 September (Monday-Thursday): Leap Tech Conference, Riyadh Exhibition & Convention Center - Malham.

SEPTEMBER

8-10 September (Tuesday-Thursday): The WTM Spotlight Riyadh, Riyadh Front Exhibition & Conference Center (RFECC), Riyadh.

15-17 September (Tuesday-Thursday) The Global AI Summit, King Abdulaziz International Convention Center, Riyadh.

23 September (Wednesday): Saudi National Day.

28 September-1 October (Monday-Thursday): The International Conference on Theory and Practice of Electronic Governance (ICEGOV), Prince Sultan University, Riyadh.

OCTOBER

25-26 October (Sunday-Monday): The Global Proptech Summit, Mandarin Oriental Al Faisaliah Hotel, Riyadh.

26-28 October (Monday-Wednesday): ACHEMA Middle East, Riyadh International Convention & Exhibition Center.

26-29 October (Monday-Thursday): The Future Investment Initiative, King Abdulaziz International Conference Center, Riyadh.

28-29 October (Wednesday-Thursday): Procurement and Supply Chain Futures Forum, Mandarin Oriental Al Faisaliah Hotel, Riyadh.

28-29 October (Wednesday-Thursday): Real Estate Supply Chain Forum, Mandarin Oriental Al Faisaliah Hotel, Riyadh.

30 October-1 November (Friday-Sunday): The New Global Sport Conference, Sofitel Hotel & Convention Centre, Riyadh.

NOVEMBER

11-12 November (Wednesday-Thursday): Aluminum Arabia, The Arena, Riyadh.

16-19 November (Monday-Thursday): Cityscape Global, Riyadh Exhibition and Convention Centre (Malham), Riyadh.

29 November-1 December (Sunday-Tuesday): The UN Trade and Development Global Supply Chain Forum, Riyadh.

Signposted to happen sometime in 2026:

2H: Sabic’s USD 6.4 bn Fujian project in China to start production;
November: The Esports Nations Cup, Riyadh;
The World Economic Forum’s Global Collaboration and Growth Meeting, Jeddah;

2027

FEBRUARY

1-3 February (Monday-Wednesday): Energy Regulators Regional Association annual conference, Riyadh.

MARCH

21-25 March (Sunday-Thursday):The World Water Forum, Riyadh.

22–24 March (Monday-Wednesday): Capital Markets Forum, Four Seasons Hotel, Riyadh

APRIL

26-29 April (Monday-Thursday): World Energy Congress, Riyadh.

JUNE

1-3 June (Tuesday-Thursday): The Saudi Entertainment and Amusement Expo, Riyadh Front Exhibition and Conference Center.

Signposted to happen sometime in 2027:

The Ocean Race finishes in Amaala on the Red Sea;
Riyadh-Kudmi transmission line to be completed;
Aero Middle East and Sand & Fun takes place in Thumamah Airport, Riyadh.

Signposted to happen sometime in 2Q 2027:

The Hail Region Water Networks Project is expected to be completed.

Sections

About

Privacy & Support