Most Important News

1. Saudi Arabia Advances Renewable Energy with SAR 31B PPAs;
2. Bitcoin Surpasses $122,000 Amid Regulatory Hopes;
3. Jarir Reports Mixed Financial Results for First Half of 2025;
4. ACWA Power Secures Major Renewable Energy Contracts in Saudi Arabia;

1. Market Summary

Saudi Arabia’s Tadawul All Shares Index(TASI.SA) fell by 24.01 points, a 0.21% drop, closing at 11,252.90 on Sunday. Additionally, the Kingdom’s parallel market, Parallel Market Capped Index (NomuC)(NOMUC.SA), decreased by 41.88 points, ending at 27,437.62.

On Friday, July 11, all three major US stock indices fell. The Dow Jones Industrial Average(DJI.US) dropped 0.63% to close at 44,371.51 points, while the S&P 500 index(SPX.US) decreased 0.33%, ending at 6,259.75 points. The NASDAQ(IXIC.US) also declined by 0.22%, finishing at 20,585.53 points.

2. Quick News

Saudi Arabia Advances Renewable Energy with SAR 31B PPAs

Saudi Power Procurement Co. (SPPC) signed power purchase agreements for seven solar and wind projects, totaling 15,000 MW and SAR 31 billion (US$8.3 billion). The agreements, part of the National Renewable Energy Program, involve a consortium led by ACWA POWER Co.(2082.SA), Water and Electricity Holding Co. (Badeel), and Aramco Energy Ventures. These projects highlight Saudi Arabia's commitment to expanding its clean energy sector globally.

Bitcoin Surpasses $122,000 Amid Regulatory Hopes

Bitcoin has hit a historic high, surpassing $122,000, signaling increased investor confidence. This surge coincides with the US House's discussions on new digital asset regulations, supported by President Trump, who advocates for modernized crypto rules. Despite recent market turmoil from tariffs, Bitcoin has risen 29% this year. Ether also reached a five-month high, contributing to a digital asset market value of around $3.78 trillion.

Trump Criticizes Fed Chair Again

President Trump has repeatedly criticized Fed Chair Jerome Powell for not lowering interest rates. On July 11, Trump stated he has no plans to fire Powell but believes his performance is poor. In an interview, Trump expressed that Powell's resignation would be beneficial, as he considers Powell detrimental to the country.

3. Stocks To Watch

KSA Stocks

Arabian Drilling Secures Three-Year Contract Extension

Arabian Drilling Co.(2381.SA)  has extended its offshore contract with Khafji Joint Operations Company for three years, effective July 13, 2025. The contract adds 8% to 12% to the company's 2024 revenue backlog. As of March 31, 2025, 19 rigs had contracts expiring this year, with 6 already renewed. The company continues negotiations to renew the remaining contracts.

Jarir Reports Mixed Financial Results for First Half of 2025

Jarir Marketing Co.(4190.SA) announced a 1.3% rise in sales to SAR5,368.5 million for the first half of 2025, driven by smartphone and after-sales service growth. Net profit increased 6.2% to SAR414.5 million, aided by improved profit margins and higher other income. Despite a quarterly decline in video game sales, comprehensive income grew 8.2%. Jarir opened new showrooms in Jeddah, Jubail, and Onaizah, supporting growth.

ACWA Power Secures Major Renewable Energy Contracts in Saudi Arabia

ACWA POWER Co.(2082.SA) has announced significant agreements for renewable energy projects in Saudi Arabia, including two wind farms and five solar plants. The wind projects, Starah and Shaqra, have a combined capacity of 3,000MW and are valued at SAR 8.6 billion. The solar projects total 12 GW and are worth SAR 22.5 billion. ACWA Power, Badeel, and Saudi Aramco Power Company hold stakes of 35.1%, 34.9%, and 30%, respectively.

THC Secures SAR 600M Islamic Facility Deal with ANB

The Helicopter Co. (THC), a subsidiary of the Public Investment Fund (PIF) and Saudi Arabia's largest commercial helicopter operator, has signed a SAR 600 million Islamic credit facility agreement with Arab National Bank(1080.SA) (ANB). This financing enhances THC's loan structure with an eight-year repayment period, supporting strategic growth and expansion into new markets and services. The deal strengthens THC's operational capabilities, allowing it to adapt swiftly to market changes and seize future opportunities, contributing to its growth and stability in the Kingdom.

First Mills Confirms No Change in Subsidy Policy

First Milling Co.(2283.SA) announced that it has not received any official notification from the General Food Security Authority about changes to the pricing policy. Thus, the current subsidy policy remains effective as of July 13. The company emphasized its dedication to the National Food Security Policy and acknowledged the GFSA's ongoing support. The wheat supply agreement, which expired on July 12, maintained a consistent pricing margin.

2P Secures SAR 67M Contract with Commerce Ministry

Perfect Presentation for Commercial Services Co.(7204.SA) (2P) has been awarded a SAR 67.02 million contract, including VAT, by the Ministry of Commerce for a unified technology licensing project. The contract involves software and system license management, tech support, and infrastructure upgrades. 2P expects a positive financial impact from 2025 to 2028, enhancing service quality and IT security.

Nama Chemicals Reports 47.62% Accumulated Losses

Nama Chemicals Co.(2210.SA) announced that its accumulated losses have reached 47.62% of its SAR 235.2 million capital, totaling SAR 111.99 million as of June 30, 2025. The losses are due to delayed raw materials and limited financing, affecting operational efficiency. Production resumed after maintenance, and it is expected to improve performance in the second half of the year. The company is implementing corrective measures to enhance efficiency and reduce costs. A certified appraiser assessed subsidiary assets, indicating that the fair value exceeds the book value.

USA Stocks

Nvidia CEO to Hold Media Briefing in Beijing

NVIDIA Corporation(NVDA.US) CEO Jensen Huang is set to hold a media briefing in Beijing on July 16, according to a company executive. The event coincides with the opening of the China International Supply Chain Expo, where Nvidia will exhibit for the first time. Two US senators have urged Huang to avoid meetings with firms that may undermine US chip export controls and entities on the export restriction list.

Tech Giants Expand AI Footprint

Meta Platforms(META.US) has acquired AI voice startup PlayAI, with the team joining Meta next week under Johan Schalkwyk. On the same day, Alphabet Inc. Class C(GOOG.US) acquired key talent and assets from AI programming startup Windsurf for approximately US$2.4 billion. OpenAI had previously considered a US$3 billion acquisition of Windsurf, but the deal fell through.

4. Saudi Stock Calendar