Most Important News

1. Saudi Finance Minister: 2026 Budget to Boost Spending, Prioritize Citizens;
2. Saudi Non-Oil PMI Signals Robust Growth Amid Slight Easing;
3. IBM, STC Group Launch Quantum-Safe Partnership in Saudi Telecom;

At the close of 3/12/2025, the Tadawul All Shares Index(TASI.SA) increased by 0.37%, closing at 10574.79 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) rose by 0.38%, closing at 23810.53 points.

As of Wednesday’s close, the S&P 500 index(SPX.US) increased by 0.30%, the NASDAQ(IXIC.US) rose by 0.17%, and the Dow Jones Industrial Average(DJI.US) increased by 0.86%.

Saudi Finance Minister: 2026 Budget to Boost Spending, Prioritize Citizens

Saudi Finance Minister Mohammed Al-Jadaan said the 2026 budget keeps expansionary spending, with expenses set at SAR1.31 trillion (US$349B) and rising to SAR1.41 trillion by 2028. He emphasized citizen-focused services, growth in non-oil, private investment, and jobs, with support for AI and tech sectors. GDP growth is projected at 4.4%. Budget and borrowing aim for long-term returns and Vision 2030 goals.

Saudi Non-Oil PMI Signals Robust Growth Amid Slight Easing

Saudi Arabia’s non-oil sector continued to expand in November, with PMI at 58.5, down from October’s 60.2 but still indicating solid growth. Output rose at the fastest pace in 10 months, supported by steady demand, new orders, and ongoing Vision 2030 projects. Businesses report increased staffing, purchasing, and inventories, with optimism remaining high for future expansion despite some rate slowdowns.

KSA Stocks

IBM, STC Group Launch Quantum-Safe Partnership in Saudi Telecom

International Business Machines Corporation(IBM.US) and Saudi Telecom Co.(7010.SA) have expanded ties to strengthen Saudi Arabia’s telecom industry for the post-quantum era, implementing quantum-safe cybersecurity solutions. The collaboration builds a NIST-compliant framework to future-proof STC’s data protection, boost cryptographic agility, and position the group as a leader in digital resilience. The initiative aligns with Vision 2030, marking a major step in Saudi Arabia’s quantum infrastructure and cybersecurity innovation.

2P purchases property in Riyadh for SAR 83M

Perfect Presentation for Commercial Services Co.(7204.SA) acquired a 3,005 sqm commercial property in Riyadh for SAR 83 million, financed via long-term bank facilities. The move, from Faisal Al-Ammar, supports growing business needs and long-term asset efficiency. 2P expects a boost to non-current assets and expanded operations, with no related parties to the deal.

USA Stocks

US Lawmakers Block AI Chip Sales Bana

US lawmakers have blocked a bill that would have restricted NVIDIA Corporation(NVDA.US) and other chipmakers from selling AI chips to China and non-allied nations, representing a major lobbying victory for Nvidia. The GAIN AI Act aimed to prioritize US customers for such chips, but it was left out of the annual defense bill amid industry pushback. Nvidia argued the law would hurt global competition and isn’t needed, emphasizing that US buyer rights remain protected. CEO Jensen Huang’s recent Capitol Hill visit signals a lobbying win and the end of this legislative push.

Tesla Surges; Trump Administration Eyes Robotics Push

Tesla Motors, Inc.(TSLA.US) closed up over 4%. Five months after launching its accelerated AI development plan, the Trump administration is now turning its attention to robotics. Sources say Commerce Secretary Lutnick has been meeting with CEOs in the robotics industry and is “going all out” to advance sector growth. The Trump administration is considering issuing an executive order on robotics next year. The Department of Transportation is also preparing to announce the formation of a robotics task force, possibly before the end of the year.