Most Important News

1. QFIs Net Sellers of SAR 173.2M on Tadawul;
2. Al Rajhi Bank Declares SAR 3B H1 2025 Dividends;
3. Cenomi Retail Secures SAR 2.95B Financing Deals;
4. Nvidia and OpenAI in Talks for Major UK Investment;

Saudi Arabia’s Tadawul All Shares Index(TASI.SA) dropped 0.18%, losing 19.08 points to close at 10,433.98. The Parallel Market Capped Index (NomuC)(NOMUC.SA) also fell by 0.45%, shedding 113.37 points to finish at 24,912.85.

The S&P 500 index(SPX.US) touched 6600 points intraday for the first time but closed down 0.05% at 6584.29. Boosted by Tesla Motors, Inc.(TSLA.US)'s surge, the NASDAQ(IXIC.US) rose 0.44% to 22141.1, marking its fifth consecutive record close last week. Meanwhile, the Dow Jones Industrial Average(DJI.US) fell 0.59% to 45834.22, reflecting mixed market sentiment.

QFIs Net Sellers of SAR 173.2M on Tadawul Last Week

Qualified foreign investors (QFIs) sold SAR 173.2M worth of stocks on the Saudi Exchange last week, ending Sept. 11. Saudi mutual funds and government entities were also net sellers, offloading SAR 274M and SAR 294M, respectively. Meanwhile, individual and high-net-worth investors were net buyers, purchasing SAR 540 million and SAR 323 million, respectively. Total market traded value reached SAR 17.92B, with institutional investors recording a net outflow of SAR 0.94B.

Saudi Arabia Seeks Public Input on Labor Law Updates

Saudi Arabia’s Ministry of Human Resources and Social Development (MHRSD) is inviting public feedback on proposed labor law amendments via the Istiqlaa platform until Sept. 30. The draft aims to clarify violations, enhance compliance, and protect worker rights. Updates address labor market changes like flexible and remote work, aiming to standardize enforcement and reduce reliance on personal judgment.

China, US Hold Trade Talks in Spain

China and the US initiated trade discussions in Madrid on September 14. According to China's Commerce Ministry, Vice Premier He Lifeng, who will lead a delegation from September 14 to 17, will address key issues, including US unilateral tariffs, export control practices, and concerns over TikTok. Both sides aim to resolve disputes and strengthen economic ties through the talks.

KSA Stocks

Al Rajhi Bank Declares SAR 3B H1 2025 Dividends

Al Rajhi Bank(1120.SA) approved SAR 3B cash dividends for H1 2025, at SAR 0.75 per share after Zakat. Eligibility is set for Sept. 22, with distribution on Oct. 2.

Cenomi Retail Secures SAR 2.95B Financing Deals

Fawaz Abdulaziz Alhokair Co.(4240.SA) signed SAR 2.95B agreements with Al-Futtaim Retail and Emirates NBD. The financing aims to strengthen operations, refinance debt, and settle liabilities. Al-Futtaim Retail will become a major shareholder, with options for equity conversion subject to approvals.

Almarai to Issue USD-Denominated Trust Certificates

Almarai Co.(2280.SA) plans to issue USD-denominated trust certificates under its updated US$200M Trust Certificate Issuance Program, as disclosed in a Tadawul statement on Sept. 15. 

Bank AlJazira Launches USD-Denominated AT1 Sukuk  

Bank Aljazira(1020.SA) began issuing USD-denominated AT1 capital sukuk under its issuance program. The bank stated in a Tadawul filing that the sukuk’s value and terms will be finalized based on prevailing market conditions.

Zain KSA Secures SAR 5.5B Murabaha Facility

Mobile Telecommunication Company Saudi Arabia(7030.SA) signed a SAR 5.5B Murabaha facility agreement with several banks, including Al Rajhi and SNB. Effective Sept. 30, the funds will repay SAR 4.7B in existing loans and SAR 500M in financing, with SAR 300M for operations. The five-year facility is secured by a promissory note.

USA Stocks

Tesla Boosts German Production Despite Sales Slump

Tesla Motors, Inc.(TSLA.US)'s German factory plans to increase electric vehicle production due to favorable sales data, according to plant head André Thiery. Despite this optimism, Tesla's recent sales figures show a 39% drop in new car registrations in Germany last month, with an overall 56% decline this year. Similar declines occurred in France, Belgium, Denmark, and Sweden, while Norway saw a 21% increase last month.

Nvidia and OpenAI in Talks for Major UK Investment

NVIDIA Corporation(NVDA.US) and OpenAI are in negotiations for a significant investment to enhance the UK's AI infrastructure. The discussions involve a collaboration to support data center construction, potentially reaching billions of dollars. Sources indicate that Nvidia, cloud company Nscale, and OpenAI are actively advancing the process.