Good morning, wonderful people. Good news is all over this morning’s news well, from non-oil private sector growth in the Kingdom accelerating to a six-month high in September, to Tadawul’s main index closing up 7.5% in September and pulling GCC stocks to strongest monthly gain in nearly two years.

ALSO- Almarai kicked off the 3Q earnings season, reporting a 7.5% increase in net income. Aljazira Capital is laying off what to expect from the third quarter, forecasting the banking and mining sectors to lead earnings growth. Let’s dive in.

HAPPENING TODAY-

It’s day two of the Saudi Lifestyle Week at the Riyadh International Convention and Exhibition Center, which wraps up tomorrow. The three-day event brings together global brands and local innovators to connect, collaborate, and capitalize on Saudi Arabia’s rapidly evolving market.

WEATHER- Wet and windy: Heavy thunderstorms are set to drench Jazan and Asir today, bringing hail, strong winds, and possible flash floods. Rain will be lighter over Al Baha and Makkah, with fog likely forming there and across the Eastern Region.

  • Riyadh: 46°C high / 22°C low,
  • Jeddah: 37°C high / 28°C low
  • Makkah: 42°C high / 29°C low.

HAPPENING TOMORROW-

#1- The Global EV & Mobility Technology (GEMTECH) Forum takes place tomorrow in Riyadh. The two-day event will gather over 4k participants — including industry leaders, policymakers, engineers, and investors — to explore the future of sustainable transportation. The international event will feature more than 60 speakers holding discussion panels focusing on the latest advancements in electric vehicle technology, battery innovation, charging infrastructure, and autonomous mobility solutions.

#2- The subscription window for the October round of the government-issued retail sukuk program Sah closes tomorrow at 3pm, the National Debt Management Center said on X. The offering, which kicked off yesterday, offers a 4.83% annual return, with investment limits set at a minimum of SAR 1k and a maximum of SAR 200k per investor.

OIL WATCH-

Opec+ members will add a total of 137k bbl / d to production again next month, according to a press release. The group approved the same additional number of barrels for October as part of the group’s gradual unwinding of its 1.65 mn bbl / d voluntary cuts. The next meeting is scheduled for 2 November.

Opinions diverged among the bloc’s two biggest producers for this month’s hike. Russia reportedly pushed to maintain the same small hike as in October, citing both market stability and its limited ability to raise supply under Western sanctions, Reuters reports, citing two sources. Saudi Arabia, meanwhile, favored a faster pace of restoration — with proposals ranging from double to quadruple the final figure — as the Kingdom seeks to reclaim market share, Reuters said, citing sources before the meeting.

Only around 60% of the 2.2 mn bbl / d tranche planned for restoration between May and September has materialized, highlighting the limited spare capacity within the cartel, Bloomberg reports. The shortfall reflects both ongoing compensation for previous overproduction by some members and the possibility that others are already nearing their maximum output.

REMEMBER- Unsold Middle Eastern crude from the last trading cycle is stoking concerns that a long-anticipated global oil surplus may be starting to take shape. A better read of balances will emerge once Saudi and other Gulf suppliers issue November allocations to long-term contract buyers soon.

WATCH THIS SPACE-

Saudi-made cybersecurity products incoming? PIF-owned Saudi Information TechnologyCompany (Site) plans to roll out the first locally made cybersecurity products, Rakeen and Metras, designed to protect devices and systems from cyberattacks, Executive Vice President Wael Ahmed Fattouh told Al Arabiya on Thursday (watch, runtime: 8:29). The goal is to reduce reliance on foreign technology and build national expertise, moving away from dependence on global providers like Norton and McAfee, supported by training programs run with the National Cybersecurity Authority, Fattough said.

IN CONTEXT- Saudi Arabia’s cybersecurity market grew 14% in 2024, bringing the sector’s total spending to SAR 15.2 bn. Public sector spending amounted to SAR 4.8 bn (32% of the market), while private sector spending totaled SAR 10.3 bn, accounting for the remaining 68% of the market.

DATA POINTS-

Medina recorded the highest occupancy rate for tourist hospitality facilities in the Kingdom in 1H 2025 at 74.7%, state news agency SPA reports, citing the Tourism Ministry’s Hospitality Sector Performance report. The city’s total number of licensed hospitality facilities reached 538, including 69 newly licensed establishments, while the hotel room inventory grew to 64.6k, with the addition of 6.6k new rooms during the same period.

SPORTS-

The Kingdom will resume paragliding after Sports Minister Abdulaziz Al Faisal greenlit its return, following new safety and regulatory measures, state news agency SPA reported on Wednesday. Upcoming plans include training programs, local competitions, and international events to grow the sport.

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THE BIG STORY ABROAD-

Gold and BTC hit fresh highs to start the week as investors flock to safe haven assets amid a government shutdown that is now entering its sixth day. Gold rose to USD 3,920.63 an ounce, before paring some gains, while BTC reached USD 125,689 for the first time early yesterday. BTC’s rise also comes during a month that has historically been a strong month for digital assets’ performance — earning it the nickname “Uptober.”

Gold’s rise is featured on Bloomberg and Financial Times’ front pages, while BTC’s new record got attention from Bloomberg, Reuters, and CNBC.

ALSO- Egypt is set to host talks between Israel and Hamas today to discuss the US President Donald Trump-proposed ceasefire agreement. The two sides will discuss the conditions for a ceasefire in Gaza and the details of the hostage exchange. Trump’s envoys Jared Kushner and Steve Witkoff are already in Cairo to finalize details of the hostage release and discuss the broader peace framework.

Trump is “positive” that the first phase of negotiations should be completed this week, he said in a social media post, while US Secretary of State Marc Rubio said we are closer than we have been “in a very long time” in an interview with Fox News Sunday, though the hostage release and prisoner exchange could be the easiest part of negotiations. The tougher parts? Discussions around rebuilding governing Gaza, he told ABC. (Bloomberg | Reuters | FT)

This comes after Hamas responded to Trump’s proposal over the weekend, with the foreign ministers of the UAE, Jordan, Indonesia, Pakistan, Turkey, Saudi Arabia, Qatar, and Egypt welcoming Hamas’ response in a joint statement and calling for an immediate launch of negotiations.

CIRCLE YOUR CALENDAR-

TheFinancial Academy Forum will be held on 8 October at King Abdullah Financial District Conference Hall in Riyadh. The annual event will gather over 3k participants from the Saudi financial sector, along with government officials and experts to discuss innovation, AI, sustainability, and finance leadership.

TheWorld Defense Show will return to Riyadh on 8-12 February 2026 at the Riyadh International Convention and Exhibition Center, featuring live demonstrations, networking programs, and sessions aimed at advancing local and global defense industries. The five-day event is expected to see over SAR 26 bn in defense orders and announcements, gathering over 773 exhibitors and 106k visitors from over 76 countries.

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