King Abdulaziz Int’l Airport Terminal Four is now operational

Jeddah Airports began the phased operation of Terminal Four at King Abdulaziz International Airport yesterday, according to a statement. The terminal — which provides capacity of up to 15 mn passengers a year — covers all foreign airlines operating from the North Terminal, some foreign airlines operating from Terminal One, and the Hajj and Umrah Terminal Complex.

Three international airlines — Wizz Air, Air Cairo, and SalamAir — have already moved their flights to the terminal, Jeddah Airports Company said. Fly Jinnah flights and Nesma Airlines will move today, Akasa Air flights tomorrow, SyrianAir and Pegasus on Thursday, and Azerbaijan Airlines and Tunisair on Saturday.

Why it matters: Terminal Four will ease pressure on King Abdulaziz International Airport as passenger and pilgrim traffic grows. The airport handled a record 53.4 mn passengers in 2025 and is facing rising demand from tourism and Umrah visitors. This increased capacity will redistribute traffic, streamline pilgrim flows, and free up capacity at Terminal One and the Hajj and Umrah complex.

WSM to go public with its sukuk program

WSM for Information Technology is taking its SAR 500 mn sukuk program public. The IT firm plans to offer the program for public subscription and list it on Tadawul's sukuk and bonds market, open to retail and institutional investors, the company said in a prospectus (pdf). The sukuk will be issued in several series, with the timing of each set out in the relevant final terms. Each one will have a SAR 1k denomination.

REMEMBER- WSM first announced the local program in August 2025, and the Capital Market Authority approved the offering in April.

ADVISORS- Impact46 is acting as financial advisor and sole arranger.

Almutanabi launches AI trading app

Saudi startup Almutanabi has launched an AI-powered equity trading advisory application that provides stock-picking suggestions for a monthly fee, aiming to bring algorithm-driven investment decisions to retail investors, AGBI quotes Chief of AI Omar Alolayan as saying.

How it works: The app analyzes trading patterns, company cashflows, and incremental share price movements to generate predictions on future stock performance. It became available to paying customers on 30 August and currently has fewer than 100 users, all retail investors. The founders plan to expand to institutional investors as the platform scales.

Knauf advances UMI takeover

Knauf’s buyout of United Mining Industries is on track to close on 19 November. The Capital Market Authority cleared Knauf International to publish its tender offer and timetable for the remaining shares in UMI, according to a disclosure. The acceptance period opened yesterday and closes on 4 November, with results announced the following day and share allocation on 18 November, according to an announcement (pdf).

Knauf can’t sell out: Rules for foreign strategic investors lock the German firm into its UMI shares until 12 May 2028.

REMEMBER- Knauf launched the offer in June at SAR 57 per share, valuing the remaining stake at SAR 293.5 mn for over 5.1 mn shares. It bought 63.2% of UMI for SAR 504.5 mn from its shareholders Al Mojel Trading & Contracting, Al Muhaidib Group, and Rashed Developments in May, as step one of the full takeover.