Most Important News

1. Trump Halts Iran Airstrikes Amid Hormuz Talks;
2. PIF's $9.5 Billion MoUs with IFC and MIGA;
3. Aldrees Expands Network with 3 New Stations;
4. Tabuk Agricultural Capital Reduction Approved;

10.30At the close of 23/07/2026, the Tadawul All Shares Index(TASI.SA) rose by 0.27%, closing at 10804.11 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) rose by 0.19%, closing at 22072.85 points.

On Friday, the S&P 500 index(SPX.US) edged up 3.68 points, or 0.05%, to close at 7411.98, marking a weekly decline of 0.61%. The Dow Jones Industrial Average(DJI.US) rose 235.60 points, or 0.46%, to 51947.25, slipping 0.38% for the week. Meanwhile, the NASDAQ(IXIC.US) dropped 161.869 points, or 0.64%, to 24975.824, with a weekly loss of 2.13%. The Nasdaq 100 fell 1.15% to 28128.342.

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PIF's $9.5 Billion MoUs with IFC and MIGA

The Public Investment Fund (PIF) signed MoUs with the World Bank Group's IFC and MIGA, aiming to boost economic development and job creation in Saudi Arabia and emerging markets. The agreements focus on sectors like infrastructure and healthcare, promoting private capital participation. MIGA will provide credit enhancement guarantees for Middle East investments, supporting decarbonization and innovative industries.

PIF and US EXIM's $15 Billion Export Credit Agreement

PIF and the Export-Import Bank of the US (EXIM) inked an MoU to boost trade and investment, offering up to $15 billion in financing for PIF portfolio companies to purchase US goods and services. This collaboration targets sectors like aerospace and advanced technology, enhancing supply chains and innovation. The partnership strengthens economic ties, contributing significantly to both Saudi and US growth.

Saudi Arabia Tops Regional Digital Government Index for Fourth Year

Saudi Arabia secured the top spot in the 2025 GEMS Maturity Index by ESCWA for the fourth consecutive year, achieving a 99% score. The Kingdom ranked first in Service Availability, Usage, and Public Outreach, reflecting advancements in digital services across sectors like healthcare and customs. Saudi Arabia outperformed UAE (96%) and Qatar (79%) in the MENA region, driven by AI integration and enhanced digital accessibility.

Trump Halts Iran Airstrikes Amid Hormuz Talks

US President Donald Trump paused airstrikes on Iran after 13 days of attacks, citing diplomatic efforts to reopen the Hormuz Strait. An Omani delegation arrived in Tehran for negotiations, with a potential agreement expected by the weekend. The conflict has driven Brent crude prices above US$100 per barrel, raising US gas costs and threatening Republican prospects in November's midterms, as Democrats lead by 11% in recent polls.

KSA Stocks

Aldrees Expands Network with 3 New Stations

Aldrees Petroleum and Transport Services Co.(4200.SA) has opened three new stations in Saudi Arabia, located in Jubbah, Majar, and Ghailana, bringing its total network to over 1,400 locations across the Kingdom. The stations feature integrated services such as convenience stores, automotive services, ATMs, restaurants, and mosques, further enhancing customer convenience and accessibility. The company announced the expansion in a post on X.

Sulaiman Al Habib Announces Q2 2026 Dividend

Dr. Sulaiman Al Habib Medical Services Group(4013.SA) declared a 13.3% cash dividend for Q2 2026, equating to SAR 1.33 per share, as per a Tadawul statement. With a capital of SAR 3.5 billion and 350 million shares, the total dividend is SAR 465.50 million. The record date is July 30, 2026, with payment on August 17, 2026. Total H1 2026 dividends reach SAR 819 million.

SABIC AN Announces H1 2026 Dividend

SABIC Agri-Nutrients Co.(2020.SA) will distribute a cash dividend of SAR 3.5 per share for H1 2026, representing 35% of its SAR 4.76 billion capital, totaling SAR 1.66 billion. The record date is July 30, 2026, with payment set for August 10, 2026. The board emphasized sustainable dividends while considering future growth and expansion to enhance shareholder value.

Tabuk Agricultural Capital Reduction Approved

The Capital Market Authority approved Tabuk Agricultural Development Co.(6040.SA)'s plan to reduce its capital from SAR 391.77 million to SAR 76.52 million, a decrease of 80.47%. This involves canceling 31.52 million shares to address accumulated losses. The reduction date follows the Extraordinary General Assembly approval. The company will provide further details and shareholder voting information soon.

United Carton Industries Reports 258% Net Profit Surge

United Carton Industries Co.(1323.SA) announced a Q2 2026 net profit of SAR28.79 million, soaring 257.8% year-on-year. Quarterly revenue rose 14.7% to SAR384.09 million. For the first six months, net profit jumped 98.3% to SAR52.94 million. The company attributed the strong financial growth to increased sales volumes across all segments and higher average selling prices, which drove overall margin improvements.

Modern Mills Q2 Net Profit Rises 7.6%

Modern Mills for Food Products Co.(2284.SA) reported a Q2 2026 net profit of SAR53.4 million, climbing 7.6% year-over-year. Quarterly revenue surged 19.6% to SAR296.9 million. First-half net profit increased 3.5% to SAR119.3 million. This growth was primarily fueled by higher sales volumes, an improved flour product mix, and favorable pricing, which successfully offset rising operating expenses and commodity prices.

SABIC Agri-Nutrients Q2 Net Profit Plunges 64%

SABIC Agri-Nutrients Co.(2020.SA) reported a Q2 2026 net profit of SAR379 million, tumbling 64.2% year-over-year. Quarterly revenue dropped 26.6% to SAR2,411 million, while first-half net profit fell 21.4% to SAR1,606 million. The decline was primarily driven by lower sales volumes amid supply chain challenges and reduced joint venture earnings, which were only partially offset by higher average selling prices.

Dr. Sulaiman Al Habib Q2 Profit Grows 12%

Dr. Sulaiman Al Habib Medical Services Group(4013.SA) reported a Q2 2026 net profit of SAR662.66 million, rising 12.12% year-over-year. Quarterly revenue jumped 18.38% to SAR4,006.45 million. First-half net profit reached SAR1,165.95 million. The robust performance was primarily driven by higher patient volumes, increased hospital occupancy rates, and positive contributions from newly launched facilities.

USA Stocks

Tech Giants Unveil US$950 Billion AI Deals

SK Group and Samsung announced AI chip partnerships with US companies totaling US$950 billion. SK Group will supply US$750 billion in semiconductors to firms like NVIDIA Corporation(NVDA.US), launching a US$500 billion alliance for AI factories. Concurrently, Samsung and Broadcom Limited(AVGO.US) finalized a US$200 billion agreement for advanced memory chips, while SK hynix Inc. Sponsored ADR(SKHY.US) secured a long-term AI memory supply pact with NVIDIA Corporation(NVDA.US).

Starship Completes 13th Test Flight

SpaceX(SPCX.US) successfully launched its 13th Starship test flight, marking its first success since going public. The V3 rocket restarted engines in a vacuum and achieved a smooth Indian Ocean splashdown. CEO Elon Musk confirmed the spacecraft remained intact. The mission also deployed 20 test satellites, clearing critical technical hurdles and advancing NASA's 2028 lunar landing goals.