Most Important News

1. Saudi Industrial Production Index Rises 5.1% in 2025;
2. KOSPI Index Plunge Triggers Circuit Breaker, Trading Halted;
3. CGS Profit Drops 30% to SAR 46.6M in 2025/26;
4. Red Sea Subsidiary Wins SAR 352.6M Diriyah Project Subcontract;

At the close of 22/06/2026, the Tadawul All Shares Index(TASI.SA) dropped by 0.04%, closing at 11072.4 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) rose by 0.11%, closing at 23227.0 points.

The major US stock indices ended mixed: the Dow Jones Industrial Average(DJI.US) rose 0.29%, the NASDAQ(IXIC.US) fell 1.32%, and the S&P 500 index(SPX.US) declined 0.37%. SpaceX(SPCX.US) saw its stock price plummet 16%, erasing US$400 billion in market value and falling below its first-day closing price.

Saudi Industrial Production Index Rises 5.1% in 2025

Saudi Arabia’s Industrial Production Index (IPI) grew 5.1% year-on-year in 2025, reaching 110.4 points, according to GASTAT. The increase was driven by a 5.4% rise in the oil production index and a 4.3% boost in non-oil activities. Key sectors saw growth, including mining (+5.8%), manufacturing (+3.9%), and electricity and gas supply (+5.2%). Water and waste services recorded the highest surge at 10%.

US Temporarily Lifts Sanctions on Iranian Oil

US Treasury Secretary Bessent announced via social media on the 22nd that the Treasury has issued a 60-day general license as part of negotiations with Iran. The license exempts previously banned Iranian crude, petrochemical, and oil product transactions from sanctions until August 21, 2026. Additionally, importing Iranian oil into the US is now permitted, according to the latest notice from the Office of Foreign Assets Control.

KOSPI Index Plunge Triggers Circuit Breaker, Trading Halted

South Korea's KOSPI index fell 8%, activating a circuit breaker and halting trading for 20 minutes. Major stocks saw sharp declines: SK Hynix and Hyundai Motor dropped over 11%, LG Electronics fell over 10%, Samsung Electro-Mechanics nearly 10%, Samsung Electronics nearly 9%, and Kia almost 8%. 

KSA Stocks

CGS Profit Drops 30% to SAR 46.6M in 2025/26

Consolidated Grunenfelder Saady Holding Co.(4147.SA) posted a net profit of SAR 46.6M in FY26, down 29.6% YoY, as revenues fell 5.4% to SAR 477.1M due to weaker performance in the Automotive Solutions segment and supply chain disruptions in Q4. Gross profit contracted 9.9%, while G&A expenses rose 7.4% on public listing costs. Despite challenges, Stationary Refrigeration and Customized Solutions segments showed growth, supported by diversification and a strong backlog.

CGS Proposes 23.3% Dividend for 2025/26

The board of Consolidated Grunenfelder Saady Holding Co.(4147.SA) recommended a 23.3% cash dividend, or SAR 0.23 per share, for the fiscal year ending March 31, 2026. This marks the first dividend since its TASI listing in December 2025. Total dividends will be SAR 23.3 million, with the record date set for two trading days post-general meeting. Payment details will follow general meeting approval.

Arabian Pipes Approves 17% Cash Dividend for 2025

Arabian Pipes Co.(2200.SA) shareholders approved a 17% cash dividend, or SAR 0.17 per share, totaling SAR 34M for 2025 during the June 22 OGM. The record date is June 22, with payment set for July 12. Shareholders also authorized the board to distribute interim dividends semiannually or quarterly for 2026, according to a Tadawul filing.

SHL Shareholders Approve 5% Dividend for 2025

Shareholders of SHL Finance Co.(1183.SA) approved a 5% cash dividend, equivalent to SAR 0.5 per share, for 2025 during the June 22 OGM. Total payouts will reach SAR 50 million, with a record date set for June 22, 2026, and payment on July 9, 2026. Shareholders also authorized the board to distribute interim dividends for 2026 on a semi-annual or quarterly basis.

Naqi Water Expands with New Riyadh Branch for Eggs

Naqi Water Co. opened a Riyadh branch dedicated to table eggs, following the first production phase completion. The new branch aims to enhance marketing and distribution, boosting sales and customer reach. The expansion aligns with strategic goals to increase production capacity by 450%, aiming for 165 million eggs annually. Naqi Water plans to support revenue growth and improve profit margins.

Cenomi Retail Appoints New CEO Amid Leadership Transition

Arabian Centres Co.(4321.SA) announced the resignation of CEO Salim Fakhouri, effective Oct. 31, 2026, as his contract expires. Sameer Jain will assume the role starting July 1, 2026. The company stated the leadership change aligns with its strategic priorities and growth plans. Jain, formerly with Landmark Group, brings over 20 years of experience. The move follows Al-Futtaim Retail's 49.95% stake acquisition in 2025, marking a transformative phase.

Red Sea Subsidiary Wins SAR 352.6M Diriyah Project Subcontract

Red Sea International Co.(4230.SA) announced that its subsidiary, First Fix, secured a SAR 352.6 million subcontract with Salini Saudi Arabia for mechanical, electrical, and plumbing (MEP) works in Diriyah. The 454-day contract includes supply, installation, testing, and commissioning of MEP systems. The financial impact is projected to begin in Q2 2026, according to the company’s statement.

USA Stocks

Nobel Laureate John Jumper Departs Google for Anthropic

Nobel Prize-winning scientist John Jumper announced on X last Friday that he is leaving Alphabet Inc. Class A(GOOGL.US) DeepMind after nine years to join rival Anthropic. Jumper, who developed the groundbreaking AI tool AlphaFold, has transformed biomedical research by predicting more than 200 million protein structures, benefiting more than 2 million scientists worldwide.

Lucid Plans Workforce Reduction and Leadership Change

Lucid(LCID.US) will cut 18% of its US workforce. The company announced the departure of COO Mark Wintehoff and the elimination of his position. Last month, CEO Silvio Napoli indicated he would evaluate all operational aspects of the company.