Most Important News

1. IMF Ups Saudi Growth Outlook; 
2. EIC Unit Wins SAR 150M Deal; 
3. Naqi Water Sets 3-Year Dividend Policy; 
4. Micron Warns of Prolonged AI Chip Shortage;

On 19/1/2026, Saudi Arabia's benchmark index Tadawul All Shares Index(TASI.SA)  added nearly 5 points to close at 10,917 points. Total turnover reached nearly SAR 4 billion. Al Rajhi Bank(1120.SA)  and The Saudi National Bank(1180.SA)  rose by 1% each to SAR 103.30 and SAR 42.32, respectively.

US stock futures on Monday night pointed to a downbeat session on Wall Street as President Donald Trump intensifies his rhetoric on Greenland, threatening to impose new tariffs on countries opposing the sale of the Danish territory to the U.S.

IMF Lifts Saudi Arabia's Economic Growth Forecast for 2026

The International Monetary Fund (IMF) has raised its economic growth forecast for Saudi Arabia to 4.5% for 2026, up from its October estimate of 4%. In its latest World Economic Outlook report, the IMF also revised its projection for 2027 growth upward to 3.6%, compared to a previous estimate of 3.2%.

Saudi Vision 2030 KPIs Show Significant Progress After 10 Years

Saudi Finance Minister Mohammed Al-Jadaan stated that key performance indicators (KPIs) for Saudi Arabia's Vision 2030 show tangible progress toward its goals. Speaking at the World Economic Forum 2026, he noted that ten years after its launch, 93% of the KPIs have either been fully achieved or are firmly on track.

Saudi Gold Refinery Aims for 5M Ounce Output Ahead of IPO

Saudi Gold Refinery Co. (SGR) Chairman Suliman Al-Othaim stated that the company plans to gradually increase its gold production, targeting an annual output of 5 million ounces by 2028. This goal precedes its planned initial public offering (IPO), which is scheduled to take place between 2028 and 2030.

Fed Chair Powell to Appear at Supreme Court Hearing Over Trump's Attempt to Oust Governor Cook

Federal Reserve Chair Jerome Powell is set to attend a U.S. Supreme Court hearing on Wednesday regarding former President Donald Trump's attempt to remove Fed Governor Lisa Cook from her position. In October last year, the Supreme Court declined to permit Trump to dismiss Cook while her legal challenge to retain her role was pending.

KSA Stocks

EIC's Belgian Subsidiary Signs SAR 150.4 Million Power Transformer Deal

Pauwels Transformers Co., a Belgium-based subsidiary of Electrical Industries Co.(1303.SA) , has entered into a framework agreement valued at approximately 150.4 million Saudi riyals (SAR) excluding taxes with Enedis, France's primary electricity distribution network operator. The contract covers the design, manufacturing, and supply of power transformers for the network.

Almunajem Foods Eyes Strategic Investment in Al-Jouf Agricultural

Al-Jouf Agricultural Development Co.(6070.SA)  has received a non-binding letter of intent from Almunajem Foods Co.(4162.SA) , expressing interest in acquiring a minority strategic stake. Almunajem has proposed a subscription price of 52.50 Saudi riyals (SAR) per newly-issued share. The two parties will now enter into preliminary discussions.

Naqi Water Announces Three-Year Dividend Policy

Naqi Water Co.(2282.SA) 's board of directors has approved a dividend distribution policy for the next three years. According to a Tadawul statement, the company plans to distribute dividends per share as follows: SAR 2 (20% of nominal value) for 2026, SAR 3 (30%) for 2027, and SAR 4 (40%) for 2028.

Diriyah to Develop $1 Billion+ Hotel Project with Italian Partner

Diriyah Co. CEO Jerry Inzerillo announced that the company plans to unveil a major hotel development project in the coming weeks. The project, which will be developed in partnership with an Italian developer, is valued at over $1 billion (approximately 3.75 billion Saudi riyals).

USA Stocks

Micron Warns of "Unprecedented" AI Chip Shortage Persisting Beyond 2026

Micron Technology, Inc.(MU.US)  has issued a warning that the current shortage of high-end memory chips, driven by soaring AI demand, is "unprecedented." The strain on HBM capacity, largely absorbed by AI accelerators, is now impacting the supply of consumer electronics like smartphones and PCs, leading multiple manufacturers to revise down next-year targets. To ensure supply for strategic clients like Nvidia, Micron has discontinued its consumer DRAM brand and is accelerating production capacity expansion.

Google's Gemini Business Sales Expected to Surge

According to sources familiar with Gemini sales, Alphabet Inc. Class A(GOOGL.US) 's business for its Gemini AI models has seen rapid growth over the past year. API calls for Gemini have more than doubled, reaching 85 billion, while Gemini Enterprise has grown to 8 million subscribers.

Apple Regains Top Spot in China Smartphone Market in Q4 2025

According to Counterpoint Research, Apple Inc.(AAPL.US)  reclaimed its position as the leader in China's smartphone market in Q4 2025, driven by strong shipments of its iPhone 17 series. However, the report also warns that the significant surge in memory prices, a key market variable this year, is expected to further impact the mobile phone industry in 2026.

BHP Raises Full-Year Copper Production Forecast

BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs(BHP.US)  reported second-quarter copper production of 490,500 metric tons and raised its full-year copper production guidance to 1.9–2.0 million metric tons, from a previous estimate of 1.8–2.0 million. The company also maintained its full-year production forecast for Western Australia iron ore at 280–300 million metric tons.