Most Important News

1. Saudi Sukuk and Bond Market Reaches SAR 695.8 Billion in Q3 2025;
2. US-China Trade Teams Begin Talks in Kuala Lumpur;
3. Luberef Extends Yanbu Facility Lease Agreement;
4. Tadawul Group’s 9M 2025 Profit Falls 41% to SAR 299.4M; Q3 at SAR 82.7M;
5. SABIC AN Profit Soars to SAR 3.33B in 9M 2025; Q3 at SAR 1.29B;

At the close of 23/10/2025, the Tadawul All Shares Index(TASI.SA) rose by 0.22%, closing at 11611.68 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) rose by 0.05%, closing at 25048.78 points. 

The US core CPI slowdown in September has raised expectations for two Fed rate cuts this year. Tech and small-cap stocks led gains, pushing the S&P 500 and Nasdaq to record highs, while the Dow closed above 47,000 for the first time. The S&P 500 index(SPX.US) rose 53.25 points (0.79%) to 6791.69, up 1.92% for the week. The Dow Jones Industrial Average(DJI.US) increased 472.51 points (1.01%) to 47207.12, and the NASDAQ(IXIC.US) added 263.069 points (1.15%) to 23204.867, both posting weekly gains.

Saudi Sukuk and Bond Market Reaches SAR 695.8 Billion in Q3 2025

The value of Saudi-listed sukuk and bonds rose to SAR 695.8 billion by the end of Q3 2025, marking a 3% increase from the previous quarter, according to Tadawul. Government sukuk and bonds accounted for 97.6% of the total, reaching SAR 679.1 billion. Meanwhile, traded value dropped 89% to SAR 1.78 billion. Saudi investors held 97.4% of these instruments, with foreign and GCC investors holding SAR 15 billion and SAR 3.4 billion, respectively.

Saudi Arabia's Direct, Indirect Reliance on Oil Falls to 68%: Minister

Saudi Arabia's oil reliance has decreased from over 90% to 68%, according to Economy Minister Faisal Al-Ibrahim. Non-oil sectors now contribute 56% to real GDP. At the Berlin Global Dialogue Forum, he highlighted the Kingdom's transition to a sustainable, productivity-focused economy. Al-Ibrahim stressed international cooperation and strategic government support to bolster the private sector and ensure market stability.

US to Impose Additional Tariffs on Canada Amid Video Dispute

President Trump accused Canada of releasing a "forged" video of ex-President Reagan's speech, misleading the public with edited content, which he called fraudulent. He cited the Reagan Foundation's statement that Canada lacked authorization to use or edit the speech, and legal actions are being considered. He claimed Canada aimed to sway the US Supreme Court on tariffs and announced a 10% tariff increase in response.

US-China Trade Teams Begin Talks in Kuala Lumpur

On the morning of October 25 local time, US and Chinese trade delegations commenced economic and trade consultations in Kuala Lumpur, Malaysia.

US Credit Rating Downgraded Amid Fiscal Concerns

European rating agency Scope Ratings downgraded the US sovereign credit from “AA” to “AA-” due to worsening public finances and declining governance standards. Persistent fiscal deficits, rising interest payments, and limited budget flexibility are driving up debt levels, with government debt projected to reach 140% of GDP by 2030. Governance concerns include policy unpredictability under Trump and trade uncertainty. 

KSA Stocks

Luberef Extends Yanbu Facility Lease Agreement

Saudi Aramco Base Oil Co.(2223.SA) has extended its Land Lease Investment Agreement for the Yanbu Facility with the Royal Commission for Jubail & Yanbu. The agreement, valued at SAR 116.1 million, spans 20 Hijri years and is renewable. This extension supports Luberef's long-term strategy for operational continuity, efficiency, and growth. The financial impact begins from the extension date, ensuring sustainable development plans.

Tadawul Group’s 9M 2025 Profit Falls 41% to SAR 299.4M; Q3 at SAR 82.7M

Saudi Tadawul Group Holding Co.(1111.SA) reported a net profit of SAR 82.7 million for Q3 2025, marking a 41.1% drop from the previous year. Revenues fell by 11.5% to SAR 317.8 million, attributed to decreased trading services. Operating expenditures rose by 8.2%, aligning with strategic growth plans. Earnings per share decreased to SAR 0.69. Comprehensive income for the period was SAR 287.5 million, down 42.5%.

Jahez Completes Second Phase of Snoonu Acquisition

Jahez International Company for Information System Technolog(6017.SA) (JAHEZ) has finalized the second phase of acquiring Snoonu Corporation Holding LLC. This phase involved subscribing to 702,338 shares, equating to 1.56% of Snoonu's share capital. Jahez now owns 76.56% of Snoonu, with founder Hamad Mubarak Al Hajri holding 23.44%. Funded by Jahez's resources, the transaction's financial impact will appear in the 2025 financial statements.

SABIC AN Profit Soars to SAR 3.33B in 9M 2025; Q3 at SAR 1.29B

SABIC Agri-Nutrients Co.(2020.SA) announced robust financial results for the nine months ending September 30, 2025. Sales rose 22.86% to SAR 9,883 million, driven by a 17% increase in average selling prices and a 5% increase in volume. Net profit surged 40.50% to SAR 3,334 million. The company credited higher selling prices and sales volumes for the growth.

Maharah Signs MoU with Dallah Healthcare for Potential Sale

Maharah Human Resources Co.(1831.SA), through its subsidiary Growth Avenue Investment Company, signed a non-binding MoU with Dallah Healthcare to explore selling its 41.36% stake in Care Shield Holding Company. The agreement allows Dallah Healthcare to conduct due diligence, with negotiations for a final binding agreement expected. The MoU expires on November 30, 2025, with confidentiality obligations extending longer. No immediate financial impact is anticipated.

Fakeeh Care Group Begins Talks for Major Stake Acquisition

Dr. Soliman Abdel Kader Fakeeh Hospital Co.(4017.SA)  has announced that its Board of Directors approved the start of negotiations to acquire a majority stake in Dr. Mohammed bin Rashed Al-Faqih & Partners Company. The decision, made on October 24, 2025, marks the beginning of discussions with the selling shareholders. The financial impact of this proposed transaction is yet to be determined, with updates to follow as developments occur.

MEDGULF Approves Capital Increase Amid Buruj Merger

The Mediterranean and Gulf Insurance and Reinsurance Co.(8030.SA) announced the approval of a capital increase from SAR 1.05 billion to SAR 1.38 billion, a 31.58% rise, during its extraordinary general assembly. This follows the merger with Buruj, where MEDGULF will issue 33.16 million new shares. Post-merger, Buruj shareholders will own 24% of MEDGULF. The merger becomes effective upon registration, with fractional shares sold and proceeds distributed to entitled shareholders.

Zain KSA Earns SAR 373M in 9M 2025, SAR 153M in Q3

Mobile Telecommunication Company Saudi Arabia(7030.SA) announced a net profit of SAR 373 million for the first nine months of 2025, up 15.8% from SAR 322 million in the same period last year. Revenue rose 5.5% to SAR 8.1 billion, driven by growth in consumer and wholesale segments. Q3 net profit increased 2% to SAR 153 million, with total equity reaching SAR 10.6 billion.

Modern Mills Reports 16% Rise in Q3 Net Profit

Modern Mills for Food Products Co.(2284.SA) announced a Q3 2025 net profit of SAR 56 million, up 16% from SAR 48 million in Q3 2024, driven by lower financing costs. Revenue rose 0.8% to SAR 254 million, boosted by growth in flour small packs despite a decline in feed sales. For the nine months ending September 2025, net profit increased 9% to SAR 171 million, with total equity up 28.7% to SAR 272 million.

USA Stocks

Tesla Faces Stock Dip Amid Supply Chain and Account Issues

Tesla Motors, Inc.(TSLA.US)'s stock fell by 3.40%, with a trading volume of $41.258 billion. Reports indicate that a Tesla supplier was expecting a significant order for third-generation robot technology, initially planned for early this year. The supplier invested heavily in R&D over three years in anticipation. Additionally, on October 24, several Tesla owners reported their accounts were deleted, causing settings like auto-turn signals and map data to reset. Tesla's customer service is urgently investigating the issue.

Google Stock Hits Record High Amid Anthropic Partnership

Alphabet Inc. Class A(GOOGL.US) shares rose 2.70% to a record high. AI unicorn Anthropic announced plans to significantly expand its use of Google TPU chips. This expansion will provide the necessary computational power for training and deploying the next-generation Claude models. By 2026, Anthropic will have access to over 1 gigawatt of computing power, marking its largest TPU deployment to date, with the use of up to a million TPU chips and additional Google Cloud services.

AMD Stock Surges After Quantum Computing Breakthrough with IBM

International Business Machines Corporation(IBM.US) announced a successful implementation of a crucial quantum error correction algorithm on Advanced Micro Devices, Inc.(AMD.US) chips, leading to a 7.6% rise in AMD's stock. This pushed AMD's market capitalization to a record $410 billion. AMD's stock has more than doubled this year, with most gains occurring in the past month. Its market cap ranking in the S&P 500 has jumped from 44th at the start of the year to 21st.