Most Important News

1. Gold Heads for Steepest Weekly Decline in Six Weeks
2. PIF's $55B Electronic Arts Takeover Nears EU Clearance
3. Cenomi Centers Lifts Westfield Riyadh Financing to SAR 2.7B

Saudi Arabia's benchmark Tadawul All Share Index Tadawul All Shares Index(TASI.SA)  rose 0.2%, or 16 points, to 10,720 points, July 16. Total turnover reached SAR 3.4 billion. The index recorded highs of 10,733 and lows of 10,694.

US stocks fell on Friday, with Wall Street posting a weekly decline, as traders weighed the latest moves in semiconductor names along with recent quarterly reports. The S&P 500 index(SPX.US)  lost 1.01% to end at 7,457.69, while the NASDAQ(IXIC.US)  dropped 1.4% to 25,520.24 as tech stocks came under scrutiny. The Dow Jones Industrial Average(DJI.US)  fell 406.55 points, or 0.77%, to close at 52,146.42. The major stock benchmarks notched weekly losses, with the S&P 500 index(SPX.US)  off 1.6%, the NASDAQ(IXIC.US)  down 2.9% and the Dow Jones Industrial Average(DJI.US)  off 0.9% on the week.

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Saudi IPO Market Poised for H2 2026 Rebound, BSF Capital Says

Saudi IPO activity is set to accelerate in the second half of 2026 on a deepening pipeline and improving sentiment, according to BSF Capital's head of investment banking Amir Riad. He sees sukuk and debt capital markets staying active while M&A picks up, with investors now favoring quality and fair value over subscription coverage. Recent debuts underscore the shift: flynas drew nearly 100-times orders, and Rasan (+224%), Miahona (+158%) and Almajed Oud (+55%) posted strong post-listing gains.

Gold on Track for Biggest Weekly Drop in Six Weeks

Gold fell Friday and is set for its steepest weekly loss in six weeks, down more than 3%, as US-Iran tensions lifted oil and reinforced rate-hike bets. Spot gold traded near USD 3,983 with the dollar index around 100.78. Dallas Fed's Lorie Logan became the first official to publicly call for a hike under Chair Kevin Warsh, and CME FedWatch now prices a 73% chance of a December increase.

KSA Stocks

SABIC in Talks With China's Rongsheng on Advanced Materials JV

Saudi Basic Industries Corp.(2010.SA)  signed a development agreement on July 16 with China's Rongsheng Petrochemical and unit Rongsheng New Materials to advance the Jintang advanced-materials project in Zhoushan. The parties will evaluate a stake of up to 50% for SABIC ahead of a final investment decision, targeting higher output of specialty chemicals for Asian demand. Shares closed at SAR 52.40, up 0.77%.

SABIC, Bahri Deliver Largest-Ever Chemicals Shipment to South Asia

Saudi Basic Industries Corp.(2010.SA)  and National Shipping Company of Saudi Arabia(4030.SA)  teamed up to deliver SABIC's largest-ever chemicals shipment to South Asian customers aboard the NCC Fajr, the world's biggest liquid chemical tanker at 81,340 DWT. SABIC said the cargo deepens its global market presence, while Bahri highlighted Saudi national logistics strength. The shipment reflects the efficiency of the Kingdom's integrated logistics ecosystem and the partnership between its leading companies.

Cenomi Centers Lifts Westfield Riyadh Financing to SAR 2.7B

Arabian Centres Co.(4321.SA)  closed a Murabaha facility for its Westfield Riyadh project, lifting total financing to SAR 2.7 billion from SAR 1 billion via an added SAR 1.7 billion from Riyad Bank. The 9.5-year facility carries a two-year grace period and an option to rise to SAR 2.9 billion. The mall will offer 220,000 sqm of leasable area, draw 24 million visitors a year, and pre-leasing has exceeded 92%.

USA Stocks

Oracle Slides to April 2025 Low as Debt, AI Concentration Bite

Oracle Corporation(ORCL.US)  fell to USD 121.50, its lowest since April 2025 and 64% off its peak, despite record remaining performance obligations of USD 638 billion. Investors worry about surging debt costs — its 2052 bond yield hit 7.6% — and OpenAI concentration risk, roughly half its backlog. The stock trades below its 50- and 100-day EMAs with RSI near oversold at 30.

ARKK Bleeds $7B in Outflows, AUM Shrinks to $6.3B

ARK Innovation ETF(ARKK.US)  saw USD 7 billion of net outflows in 30 days, cutting assets to USD 6.3 billion from a 2021 peak near USD 30 billion. Its five-year return is -35% versus +87% for the S&P 500. An underweight in semiconductors, this year's top sector, has hurt; top holdings AMD $AMD.US and Tesla $TSLA.US face earnings pressure. Technically it holds key support near the 200-day average.

Etched Weighs $20B Raise as Nvidia Rival Lures Jane Street

Etched, a startup building AI inference chips to rival NVIDIA Corporation(NVDA.US) , is in talks to raise at a near-USD 20 billion valuation — about four times its prior mark, The Wall Street Journal reported. Existing backer Jane Street is leading the round, with a separate USD 10 billion Sequoia-led raise also in progress. The San Jose firm makes chips tuned for running trained models, competing with Cerebras $CBRS.US and Groq.

EA Clears EU Hurdle in PIF's $55B Takeover

Electronic Arts Inc.(EA.US)  is set to win EU clearance for its USD 55 billion takeover by a PIF-led group, Reuters reported. The Commission is expected to clear the deal under the Foreign Subsidies Regulation by July 30 and grant unconditional merger approval around July 22. The all-cash offer at USD 210 per share won shareholder approval in December; PIF held a 10% stake as of March 31.