Net FDI inflows rise over 40% y-o-y in the first quarter. PLUS: Women drive Saudi unemployment down to all-time low

1

WHAT WE’RE TRACKING TODAY

THIS MORNING: GDP growth to reach 4.6% by 2027 + A new Saudi-Egyptian ro-ro shipping line in the cards?

Good morning, everyone. Today’s issue is full of positive updates from Gastat, as preliminary data shows net FDI inflows in the first quarter logged a y-o-y increase of over 40%. Meanwhile, strong participation from women is also driving down Saudi unemployment figures to an all-time low.

Also in this morning’s news well: Nomu-listed Azm and Obeikan Glass got the green light to move to Tadawul’s main market, coinciding with structural updates to equity tick sizes and stock split procedures. Let’s dive in.

WEATHER- Riyadh is expected to see a high of 45°C and a low of 32°C today, while Jeddah’s mercury will go as high as 41°C and as low as 29°C. Makkah will see a 42°C high and 34°C low.

PSAs-

#1- Title deed registration for 21 neighborhoods in Makkah will run from 13 July to 16 October, according to a statement by the Real Estate General Authority. Property owners with valid title deeds may complete the process online on the Real Estate Registry website or by visiting a service center.

#2- Today is the last day for companies to submit their annual financial statements for the fiscal year that ended 31 December via the Qawaem platform, the Commerce Ministry said in a statement. Late filers could face financial penalties.

WATCH THIS SPACE-

The World Bank sees Saudi Arabia’s GDP growth rising gradually to reach 4.6% by 2027, supported by the phase out of Opec+ production cuts and strong non-oil activities, World Bank Country Director for the GCC Safaa El Kogali told Argaam. The non-oil sector is expected to remain a key growth driver for the Kingdom in the coming years, “buoyed by government initiatives to enhance infrastructure, attract investment, and promote private sector development,” El Kogali said.

The non-oil sector was also a “key highlight” of the Kingdom’s performance last year, with the sector showing a level of resilience that “reflects the progress made in diversifying the economic base and enhancing the role of services and domestic consumption,” El Kogali said.

REMEMBER- The World Bank maintained its growth forecasts for Saudi Arabia at 2.8% in 2025 and 4.5% in 2026 in its Global Economic Prospects report earlier this month, leaving them unchanged from its previous forecast back in April. The forecast for the current year reflects the gradual expansion of oil production, the report said.

A new Saudi-Egyptian ro-ro shipping line could be in the cards: Egypt is looking to launch a new ro-ro shipping line with the Kingdom — in addition to another one with Turkey — before the year’s end, Egypt’s General Authority for Investment and Freezones head Hossam Heiba told Asharq Business. The ro-ro shipping line — which aims to reduce shipping costs and time — will be primarily used to transport perishable agricultural products, heavy machinery, and vehicles.

SOUND SMART- A roll-on/roll-off maritime line — known more commonly as just a ro-ro line — loads and unloads cargo using either trucks or platform vehicles and then unloads them using the same set of wheels. Instead of the more laborious use of cranes and containers, using a ramp and wheeled cargo helps to dramatically reduce shipping times and, in turn, cut down costs — especially for short routes across the Mediterranean or the Red Sea.

Asia’s largest budget airline AirAsia plans to set up a new hub in the GCC this year at a yet-to-be-determined Gulf airport, CEO Tony Fernandes told the Financial Times. The move would utilize the region’s proximity to Europe to support the Malaysia-based airline’s plans to expand its network to more European destinations, using “a one-stop and multi-hop strategy,” Fernandes noted.

AirAsia’s been on PIF’s radar: The Public Investment Fund (PIF) has been eyeing a USD 100 mn investment in AirAsia since March, which would make it the largest contributor to the carrier’s USD 226 mn fundraising target if the investment went through. However, the investment hasn’t been locked in yet, with the announcement awaiting consent letters, Fernandes told Reuters earlier this month.

El Attal Holding to develop real estate project in the Kingdom: Egyptian real estate developer El Attal Holding will build 800-1.2k residential units in a new compound north of Riyadh targeting upper-middle-income buyers, in cooperation with the National Housing Company, Chairman Ahmed El Attal told Asharq Business last Saturday.

SPORTS-

#1- Goodbye, Gold Cup: Our national team lost 0-2 to Mexico yesterday, exiting the Concacaf Gold Cup in quarterfinals. The Green Falcons resisted several attempts at goal by Mexico throughout the first half, but Alexis Vega took a rebound and slid the ball between the legs of Al Aqidi to find the net four minutes into the second half. The final result came after an own goal by Abdullah Madu in the 81st minute.

#2- John Cena retained the Undisputed WWE Championship against CM Punk at Riyadh’s WWE Night of Champions, WWE said in a statement. Cody Rhodes also defeated Randy Orton in a hard-fought King of the Ring final, and is set to meet Cena in a SummerSlam rematch in the US. On the women’s side, Jade Cargill captured the Queen of the Ring crown after defeating Asuka, while Rhea Ripley beat Raquel Rodriguez in the first-ever women’s street fight held in the Kingdom.

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THE BIG STORY ABROAD-

Israel’s attack on Iran’s Evin Prison killed dozens: Israel’s attack on Tehran’s Evin Prison last week killed 71 people, Iranian judiciary spokesperson Asghar Jahangir confirmed yesterday. The prison holds political prisoners and foreigners, marking a shift from Israel’s attacks on military and nuclear sites. Victims included administrative staff, military conscripts, detainees, visiting family members, and nearby residents. (Reuters | New York Times | Associated Press | France24)

AND- Another DeepSeek? Chinese tech giant Baidu will open source its Ernie generative AI model today, in what experts are calling China’s biggest AI move since DeepSeek. While some analysts see it as a challenge to US giants like OpenAI and Anthropic, others say its global impact will hinge on security concerns and market trust. “Baidu just threw a Molotov into the AI world,” Epic Loot founder Alec Strasmore told CNBC, adding that it could trigger a price war in AI services.

Net FDI inflows rise 44% y-o-y to SAR 22.2 bn in 1Q 2025

Net inflows of foreign direct investment (FDI) in the Kingdom rose 44% y-o-y to SAR 22.2 bn in 1Q 2025, preliminary data (pdf) from the General Authority for Statistics’ (Gastat) showed. However, net inflows saw a 7% decline on a quarterly basis, compared to SAR 24 bn in 4Q 2024.

The breakdown: Inflows rose 24% y-o-y to SAR 24 bn in the same period, while declining 6% on a quarterly basis. Outflows, on the other hand, dropped 54% y-o-y to SAR 1.8 bn in 1Q 2025, despite rising 7% q-o-q.

BACKGROUND- The government is targeting USD 100 bn FDI inflows by 2030. FDI inflows exceeded the 2023 target by 16% at USD 25.6 bn, contributing 2.4% to GDP, compared to an average of USD 17 bn annually during 2017-2022.

IN CONTEXT- The push to attract FDI comes amid growing fiscal pressure linked to oil price volatility and geopolitical risks, including potential increased supply from Iran. This coincides with expected output hikes from Opec+, as the Kingdom is currently unwinding 2.2 mn bbl / d in voluntary production cuts. Revenue from oil exports fell 21.2% y-o-y to SAR 61.96 bn in April, marking the lowest monthly total since June 2021.

The Kingdom’s unemployment rate drops to 2.8% in 1Q 2025

The overall unemployment rate in the Kingdom fell by 0.7 percentage points y-o-y to 2.8% in 1Q 2025, according to Gastat’s latest labor market report (pdf). Unemployment for Saudis fell by 1.3 percentage points y-o-y to an all-time low of 6.3%, while the rate for expats declined by 0.3 percentage points to 0.8%. Meanwhile, the employment-to-population ratio rose to 66.3% in 1Q 2025, compared to 63.7% in the same period last year.

On a quarterly basis, overall unemployment, Saudi unemployment, and expat unemployment all fell by 0.7 percentage points compared to 4Q 2024.

Saudi women drove unemployment down: The unemployment rate for Saudi women reached a record low of 10.5% in 1Q 2025, marking a decrease of 3.7 percentage points y-o-y. For Saudi men, the unemployment rate slightly went down by 0.2 percentage points y-o-y to 4%.

MEANWHILE- Saudi female youth (aged 15-24) saw a 0.7 percentage-point increase in their employment-to-population ratio to 14.6%, while their labor force participation rate increased by 1.1 percentage points to 18.4%. Meanwhile, the employment-to-population ratio for Saudi male youth decreased by 0.5 percentage points to 29.2%, while their labor force participation rate fell by 0.8 percentage points to 33.0%.

Saudis are seeking employment more actively: The most commonly used job search method was directly applying to employers, used by 75.8% of jobseekers, followed by using the national unified employment platform Jadarat (74.6%), and posting or updating resumes on professional and social networks (64.5%).

REMEMBER- The government established a new unemployment target of 5% for Saudi nationals by 2030, after meeting the original goal of 7% late last year.

Tadawul approves Nomu-listed Azm + Obeikan Glass transition to main market

Tadawul clears Azm, Obeikan Glass to move to the main market: The Saudi Exchange approved the transfer of Saudi Azm for Communication and Information Technology and Obeikan Glass from the parallel market Nomu to the main market Tadawul, according to separate statements.

The details: Azm will transfer with an authorized capital of SAR 30 mn and 60 mn shares, while Obeikan Glass will move with an authorized capital of SAR 320 mn and 32 mn shares. Tadawul will announce the effective date of their main market debut once the remaining procedures are finalized.

Second time is the charm: The move follows the companies’ resubmission of their transfer requests in May after an earlier rejection by the exchange. Both companies were listed on Nomu in early 2022.

What’s next? Azm and Obeikan will continue to trade on Nomu until the end of the transition document’s publication period, which must be issued within three trading sessions of approval. The document will be made available to investors for 10 trading sessions, after which share trading will be suspended for up to five sessions to facilitate the technical transfer to the main market.

What it takes: To transition from Nomu to the main market, a company must have been listed on Nomu for at least two years and satisfy all main market listing conditions. The only exception is market capitalization, where a lower threshold of an average SAR 200 mn over the past six months applies. Transitioning issuers also need to offer at least 30% of their shares to the public, have at least 200 public shareholders, and follow more rigorous financial disclosure rules.

Market reax: Obeikan’s share price jumped over 20% to SAR 37.50 at yesterday’s close, while Azm rose 3.6% to close at SAR 32.

Tadawul amends equity tick sizes, stock split procedures

Tadawul has introduced new amendments to equity tick sizes and stock split procedures, framed as part of broader efforts to modernize market infrastructure and align with international best practices.

#1- Smaller tick sizes will now apply to a wider range of securities, with a new tier for securities priced at SAR 500 or above, according to a statement (pdf). The revisions — designed to ensure consistent spread levels across different price bands — apply to securities listed on both the main market Tadawul and the parallel market Nomu, excluding debt instruments.

SOUND SMART- Tick size refers to the smallest allowable increment by which the price of a listed security can move. It plays a critical role in determining market liquidity and trading dynamics.

The rationale: The amendments seek to enhance the precision of the price discovery mechanism, improve overall market efficiency, and ease constraints on price spreads, ultimately contributing to lower transaction costs for investors.

Here’s the breakdown:

A tick size of SAR 0.01 will now apply to securities priced up to SAR 24.99, with no minimum price threshold;
A tick size of SAR 0.02 will apply to securities priced at SAR 25.00-49.98;
A tick size of SAR 0.05 will apply to securities priced at SAR 50.00-99.95;
A tick size of SAR 0.10 will apply to securities priced at SAR 100.00-249.90;
A tick size of SAR 0.20 will apply to securities priced at SAR 250.00-499.80;
A tick size of SAR 0.50 will apply to securities priced at SAR 500.00 and above, with no upper limit.

#2- Changes to share quantities and prices will now be reflected in investor portfolios immediately after a stock split, with adjusted shares available for trading starting from the first session following approval, Tadawul said in a separate statement (pdf). The amendment aims to give investors faster access to updated holdings, supporting more timely and informed decision-making.

Retail sector to undergo consolidation in wake of grocery product ban -BMI

Are small Saudi grocery stores in for consolidation? The Kingdom’s recent ban on small shops selling key goods — including tobacco, dates, meat, fruits, and vegetables — is expected to trigger consolidation in the fragmented retail market, according to a note by Fitch Solutions’ BMI. The expected consolidation comes amid efforts to improve food safety, supply chain efficiency, and tax compliance.

The reforms are expected to see supermarkets expand their share in the Kingdom’s retail market, currently standing at third (compared to 55% in the UAE). The reforms could also help minimize hidden foreign ownership in the retail market, which is reportedly dominated by Indians representing 75% of employees, according to the note.

The decision creates new space for real estate developers, logistics firms, and e-grocery platforms to grow, especially in underserved areas. Larger retailers like Al Othaim Markets, BinDawood Holding, Panda Retail, Carrefour, and LuLu will be well-placed to expand due to the increased footfall into larger supermarkets, expected to gain a bigger share of household spending on food, which accounts for nearly a fifth of Saudi household budgets in 2025.

IN CONTEXT- New rules were issued last week by Municipalities and Housing Minister Majid Al Hoqail barred small grocery shops — under 100 sqm — from selling these goods, allowing their sale only at supermarkets and hypermarkets, with meat sales requiring a separate license. The rules come with a six-month grace period for existing grocery stores to adjust.

ALSO- Minimum size requirements for different types of stores were introduced, setting 24 sqm for groceries, 100 sqm for supermarkets, and 500 sqm for hypermarkets.

DATA POINTS- Saudi households’ spending on food and drinks through large-scale retailers is expected to grow 6.2% this year to about SAR 343 bn (USD 19.4 bn), with growth extending over the medium term at an average rate of 6.1% to reach SAR 433.5 bn (USD 116 bn) by 2029, BMI notes.

GCC luxury sales climb 6% in 2024 to USD 12.8 bn

Saudi Arabia and the UAE were the two “main growth engines” for the GCC personal luxury market in 2024, according to Chalhoub Group’s GCC Personal Luxury report (pdf). Saudi Arabia accounted for 18% of the regional luxury market — up 5 percentage points y-o-y — coming in behind the UAE, which rose 7 percentage points to 56% of the market. Kuwait comes in third (13%), followed by Qatar (10%), Bahrain (1%), and Oman (1%).

The Kingdom stands out for its dynamic retail environment, which saw a 24% y-o-y increase in gross leasable area (GLA) and a 3% rise in private consumption compared to 2023. Luxury mall developments, new brand entries, and high consumer optimism — 65% of Saudi respondents said the economy had improved — are creating strong momentum. KSA also holds a 21% GCC market share in watches and jewelry, second only to the UAE.

THE REGIONAL PICTURE-

Shoppers across the GCC spent USD 12.8 bn on personal luxury goods in 2024, bucking a global downturn to grow 6% y-o-y, according to the report. Driving this growth was luxury fashion, which accounted for 43% of the total market, registering 6% y-o-y growth. Prestige beauty was the fastest growing at 12% y-o-y, led by a 17% rise in skincare. Fragrance dominates the beauty category at 49% of sales, with niche and private collections gaining popularity. Watch sales were flat, reflecting global patterns, but jewellery helped offset this with a 7% gain.

Across the GCC, tourist luxury spending rose 5% y-o-y, with an 8% rise in air arrivals. Saudi tourists ranked among the top spenders abroad, particularly in the UAE, attracted by broader product offerings and competitive prices.

The luxury fashion market’s growth extended into 1Q 2025, with Saudi Arabia contributing to an 11% regional rise in luxury fashion sales and a 23% jump in prestige beauty. The positive trend was supported by Ramadan coming in during the first quarter of the year, along with expanded points of sale and sustained consumer demand.

Meanwhile, the GCC’s e-commerce sector grew 13% y-o-y in 2024, once again bucking the global trend, where e-commerce is contracting as much as 4%. Still, online sales make up just 13% of the region’s total, compared to a 20% global average.

IN CONTEXT- Saudi Arabia ranked second among seven MENA countries and 26th globally in the E-Commerce Maturity Index earlier this year. Domestic e-commerce spending is projected to grow 10.6% annually to reach USD 24.5 bn by 2029, with its share of total consumer spending rising from 3.6% in 2025 to 4.1% by 2029.

Looking ahead: The GCC personal luxury market is expected to reach USD 15 bn by 2027, driven by domestic spending, tourism recovery, and an expanding base of high-net-worth expats. Eight luxury malls are planned across KSA and the UAE, alongside new category growth and e-commerce expansion.

Go Telecom, Abo Moati Bookstores report full-year earnings

GO TELECOM-

Etihad Atheeb Telecommunication (Go Telecom) posted a 14.4% y-o-y increase in net income to SAR 223 mn in the fiscal year ending 31 March 2025, supported by strong performance across the business sector and the recent acquisition of Ejad Tech, according to a disclosure to Tadawul. Revenue rose 43.9% y-o-y to SAR 1.46 bn during the same period, attributed to growth in the fiber and voice services.

ALSO- Go Telecom’s board recommended distributing SAR 10.2 mn in dividends at SAR 0.30 per share for the fiscal year, it said in a disclosure to Tadawul. The distribution date is yet to be announced.

ABO MOATI BOOKSTORES-

Abo Moati Bookstores’ net income fell 17.9% y-o-y to SAR 22.1 mn in the fiscal year ending 31 March 2025, pulled down by rising operating expenses and financing costs, it said in a Tadawul disclosure. Revenue also dropped 2.1% y-o-y to SAR 264.8 mn during the same period.

AlHajjaj retains Country Manager for Saudi Arabia operations after joining in 2006

DHL Express appointed Mansour Al Hajjaj (LinkedIn) as its country manager for Saudi Arabia operations, according to a press release. Al Hajjaj has been with the company for almost two decades since joining as a customer enquiry advisor in 2006, first assuming a senior leadership role in 2020.

ALSO- United Cooperative Assurance reinstated CEO Mohammed Basrawi (LinkedIn), reversing a decision to accept his resignation earlier this month, it said in a statement to Tadawul. The board reinstated Basrawi as the company is evaluating a potential merger with Arabia Ins. Cooperative Company.

Wolffkran to supply 21 cranes for Qiddiya’s Prince Mohammed Bin Salman Stadium

CONSTRUCTION-

Swiss crane manufacturer Wolffkran will provide a turnkey tower crane package for the construction of the Prince Mohammed bin Salman Stadium in Qiddiya, it said in a press release. Wolffkran will assemble, maintain, and operate 21 cranes together with some 180 specialists on-site, while monitoring operations in real-time using Wolff-Link technology, the statement said.

New technology for a challenging environment: To overcome the project’s unique engineering challenges, Wolffkran developed a new tower element that is 3.3 meters wide and 6 meters high, WOLFF XT 33, allowing cranes to freestand at over 100 meters amid high winds on a broken terrain.

MANUFACTURING-

A new fire safety equipment factory coming to Dammam: Khobar-based fire safety firm Reda Hazard Control plans to establish a new, self-funded fire safety equipment manufacturing facility in Dammam’s Second Industrial City, with an investment of USD 5 mn, Asharq Business reported yesterday, citing a company statement.

The details: The 17.5k sqm facility — the company’s fourth — aims to meet growing demand and localize production across three segments. This includes mobile equipment (such as fire trucks, emergency vehicles, and generators), security systems (like crash barriers and bullet-resistant doors), and industrial process equipment for the oil, gas, and petrochemical sectors.

ICYMI- Reda is reportedly exploring a potential sale in what could mark a rare private equity play in the kingdom’s industrial space and has initiated talks with a handful of regional and international suitors, though no final decision has been made. The company is said to be working with Moelis & Co. as it weighs strategic options.

M&A WATCH-

#1- Aictec to snap 25% equity stake in Sign Max: Advance International Company for Communication and Information Technology (Aictec) signed a three-month binding MoU to acquire a 25% equity stake in Sign Max Advertising Company for SAR 3 mn, it said in disclosure to Tadawul yesterday.

#2- STDC finalizes Manafea Alandalus takeover: Saudi Tourism Development Company (STDC) is now the sole owner of Manafea Alandalus for Development and Real Estate Investment after acquiring the remaining 70% from Tadawul-listed developer Alandalus Property for SAR 15 mn, according to a Tadawul disclosure published yesterday.

LOCALIZATION-

The Local Content and Government Procurement Authority updated its mandatory list of national products, adding 105 new items across seven key sectors, with additional expected government spending valued at SAR 2.4 bn, it said on X.

The details: The products include 14 new products from 3 factories totaling SAR 70 mn in government spending, and 56 medical products across 8 factories totaling SAR 110 mn. The construction sector accounted for 22 products produced by 80 factories, with government spending valued at SAR 1.7 bn, while transportation and logistics included 7 products from 7 factories, totalling SAR 92 mn. Other sectors covered include furniture, cybersecurity, and IT.

REAL ESTATE-

Umm Al Qura for Development and Construction Company sold a 2.5 sqm plot located in the Masar Destination Project for SAR 255.8 mn to Home Investment Fund, a real estate fund managed by Jadwa Investment, according to a Tadawul disclosure. The company will allocate the proceeds of the transaction to finance working capital and ongoing projects.

EXPANSION-

Italian engineering and energy solutions provider Pronur is entering the Saudi market, seeking to integrate advanced technical solutions for renewable energy, energy efficiency, and sustainable resource management in a move facilitated by regional business expansion platform AstroLabs, according to a press release published on Thursday.

About Pronur: Founded in 2021 in Torino, Pronur is a multidisciplinary engineering company, focusing on sustainability and environmental sectors. It provides a host of services, including photovoltaic systems installation and energy-saving solutions.

Investors flee long-term US bonds as Trump tax bill revives debt fears

Investors are pulling out of long term US bond funds at the fastest pace since early 2020, the Financial Times reports. Nearly USD 11 bn left long-dated government and corporate bond funds in 2Q — a stark reversal from the average USD 20 bn in inflows over the past three years.

The bigger picture: The US bond market is often used as a reflection of wider investor sentiment, with recent outflows pointing to a growing discomfort with the long end of the treasury curve amid ballooning supply, political dysfunction, and renewed inflation risks from Trump’s tariff agenda. Inflation is also expected to rise as the effect of the trade levies start to be felt, dampening confidence even more by eroding yields on longer-dated bonds.

Another USD tns in debt still to come? At the same time, a sweeping tax-and spending package advanced by the Republican-controlled US Senate over the weekend is deepening investor jitters over the country’s long-term fiscal outlook, Reuters reports. If the senate passes the bill, it returns to the House for final approval before heading to Trump’s desk.

The bill: The legislation — which would extend Trump-era tax cuts, raise military and border spending, and lift the debt ceiling by USD 5 tn — passed a procedural hurdle by 51-49 after hours of backroom negotiations. Analysts predict it could add USD tns to the current USD 36.2 tn worth of US government debt.

Higher inflation is bad for long-term bonds: Currently, inflation — to which longer-dated bonds are sensitive as the value of fixed-interest payments erodes over time — remains above the target, and investors are already demanding high yields to absorb the supply.

On the flip side, funds holding short-term US debt have seen over USD 39 bn in inflows this quarter as yields remain strong after the Fed’s decision to keep short-term rates high. Greater diversity in maturity dates for holdings is also an option for investors, RBC Global Asset Management’s Andrzej Skiba told the Financial Times.

MARKETS THIS MORNING-

Asian markets are mostly in the green, as data out of Japan showed an increase in industrial output and China’s purchasing managers’ index showed another month of contraction. Japan’s Nikkei hit a six-month high, rising 1.5%, while China’s CSI 300 rose 0.2%. On the flip side, Hong Kong’s Hang Seng lost 0.5%.

Over on Wall Street, futures have also inched up after another rally last Friday, which saw the S&P 500 and Nasdaq notch new records.

TASI	11,203	+1.2% (YTD: -6.9%)
MSCI Tadawul 30	1,434	+1.1% (YTD: -5.0%)
NomuC	27,248	+0.7% (YTD: -13.4%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	5.0% repo	4.5% reverse repo
EGX30	33,207	+0.6% (YTD: +11.7%)
ADX	9,886	+0.8% (YTD: +5.0%)
DFM	5,684	+1.3% (YTD: +10.2%)
S&P 500	6,173	+0.5% (YTD: +5.0%)
FTSE 100	8,799	+0.7% (YTD: +7.7%)
Euro Stoxx 50	5,326	+1.6% (YTD: +8.8%)
Brent crude	USD 67.44	-0.7%
Natural gas (Nymex)	USD 3.68	-1.5%
Gold	USD 3,269	-0.6%
BTC	USD 108,166	+0.7% (YTD: +15.3%)
Sukuk/bond market index	914.27	0.0% (YTD: +1.4%)
S&P MENA Bond & Sukuk	145.29	-0.1% (YTD: +3.8%)
VIX (Volatility Index)	16.32	-1.6% (YTD: -5.9%)

THE CLOSING BELL: TADAWUL-

The TASI rose 1.2% yesterday on turnover of SAR 5.1 bn. The index is down 6.9% YTD.

In the green: SIDC (+10.0%), Naseej (+10.0%) and Cenomi Retail (+10.0%).

In the red: SMC Healthcare (-1.9%), Americana (-1.3%) and Nahdi (-1.2%).

THE CLOSING BELL: NOMU-

The NomuC rose 0.7% yesterday on turnover of SAR 39.7 mn. The index is down 13.4% YTD.

In the green: Obeikan Glass (+20.6%), AlBattal Factory (+9.9%) and Alhasoob (+9.4%).

In the red: Anmat (-8.7%), Mayar (-6.8%) and Lana (-5.7%).

CORPORATE ACTIONS-

Leaf Global Environmental Services’ general assembly greenlit the distribution of a SAR 10 mn dividend payout for FY 2024 at SAR 2.00 apiece, according to a disclosure to Tadawul. The distribution date is set for 10 July.

CALENDAR

JULY

July (Second week): World Intellectual Property Organization (WIPO) Global Awards 2025 awards ceremony, Geneva.

7 July-24 August (Monday-Sunday): Esports World Cup, Riyadh.

29-30 July (Tuesday-Wednesday): US Federal Reserve Open Market Committee meeting.

31 July (Thursday): Deadline for companies with SAR 2.5 mn or more in 2022/2023 revenues to integrate e-invoicing solutions with Fatoora.

AUGUST

7 July-24 August (Monday-Sunday): Esports World Cup, Riyadh.

5-17 August (Tuesday-Sunday): 2025 Fiba Asia Cup, Jeddah.

SEPTEMBER

3-4 September (Wednesday-Thursday): Sustainable Maritime Industry Conference (SMIC), Ritz-Cartlon, Jeddah.

15-17 September (Monday-Wednesday): Money 20/20 Middle East, Riyadh.

17-18 September (Wednesday-Thursday): US Federal Reserve Open Market Committee meeting and Summary of Economic Projections.

23 September (Tuesday): Saudi National Day.

OCTOBER

1-3 October (Wednesday-Friday): Saudi Green Building Forum, Riyadh.

7-8 October (Tuesday-Wednesday): Global EV & Mobility Technology (GEMTECH) Forum, Riyadh.

15 October (Wednesday): Russian-Arab Summit.

17 October (Friday): Saudization for private healthcare roles enters its second phase.

22-23 October (Wednesday-Thursday): Private Capital Forum, Riyadh.

28-30 October (Tuesday-Thursday): Future Investment Initiative (FII9), King Abdulaziz International Conference Center (KAICC) and the Ritz-Carlton, Riyadh.

28-29 October (Tuesday-Wednesday): US Federal Reserve Open Market Committee meeting.

NOVEMBER

3-9 November (Monday- Sunday): WTA Tour Finals, Riyadh.

11-13 November (Tuesday-Thursday): TouriseSummit, Riyadh.

17-20 November (Monday-Thursday): Cityscape Global, Riyadh Exhibition and Convention Centre, Riyadh.

23-26 November (Sunday-Wednesday): Saudi Food Exhibition and Conference, Riyadh.

24-26 November (Monday-Wednesday): The World Advanced Manufacturing & Logistics Saudi Expo, Riyadh.

24-26 November (Monday-Wednesday): Metropolis Madinah Conference for civilizational capitals, King Salman International Convention Centre (KSICC), Al Madinah.

27-30 November (Thursday-Sunday): World Rally Championship Saudi Arabia 2025, Jeddah.

30 November (Sunday): Zatca 21st E-invoicing integration wave deadline.

DECEMBER

1-4 December (Monday-Thursday): International Conference on Nuclear and Radiological Emergencies, Riyadh.

1-4 December (Monday-Thursday): 61st ISOCARP World Planning Congress, Riyadh.

9-10 December (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections.

25-27 December (Saturday-Monday): The Fortune Global Forum 2025, Riyadh.

31 December (Wednesday): Zatca 22nd E-invoicing integration wave deadline.

31 December (Wednesday): Cancellation of Fines and Exemption of Financial Penalties Initiative by the Zakat, Tax and Customs Authority (Zatca) deadline.

2026

UN Trade and Development Global Supply Chain Forum to take place in Saudi Arabia.

8-12 February (Sunday-Thursday): World Defense Show, Riyadh.

31 March (Tuesday): Zatca’s 23rd E-invoicing integration wave deadline.

27-29 April (Monday-Wednesday): Aluminum Arabia, The Arena, Riyadh.

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

2027

The World Water Forum takes place in Riyadh.

The Ocean Race finishes in Amaala on the Red Sea.

Riyadh-Kudmi transmission line to be completed.

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