Most Important News

1. Saudi Arabia Releases 2025 Vision 2030 Annual Report;
2. Trump Cancels Envoy's Trip to Pakistan Amid Stalled Peace Talks;
3. Alinma Bank Announces Intention to Issue SAR-Denominated Additional Tier 1 Sukuk;
4. SRMG Secures Contract for Al-Thaqafiya Channel Operations;

On Friday, US stocks showed mixed results. The S&P 500 index(SPX.US) rose 56.68 points, or 0.80%, to 7165.08, setting a new closing high and posting a weekly gain of 0.55%. The Dow Jones Industrial Average(DJI.US) fell 79.61 points, or 0.16%, to 49230.71. Meanwhile, the NASDAQ(IXIC.US) surged 398.094 points, or 1.63%, to 24836.599, also reaching a record high, with a weekly rise of 1.50%.

At the close of 23/04/2026, the Tadawul All Shares Index(TASI.SA) dropped by 1.2%, closing at 11109.59 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) dropped by 0.04%, closing at 22851.49 points.

Saudi Arabia Releases 2025 Vision 2030 Annual Report  

Saudi Arabia has published the 2025 annual report for Vision 2030, offering an in-depth assessment of progress on performance metrics and key pillars. This marks the transition into the initiative’s third phase, highlighting achievements and ongoing efforts toward Vision 2030 targets.

Download Report: Saudi Arabia's Vision 2030 annual report for 2025

Trump Cancels Envoy's Trip to Pakistan Amid Stalled Peace Talks

US President Trump has canceled the planned trip of Special Envoy Wittecoff and Jared Kushner to Pakistan for talks with Iran, citing it as a waste of time. Iran's Foreign Minister Araghchi, after visiting Pakistan, confirmed no meetings with US officials were planned. Tensions over the strategic Hormuz Strait continue as Trump maintains the blockade on Iranian ports. US Treasury Secretary Scott Bessent announced that there would be no renewal of waivers for Iranian oil purchases. Meanwhile, Israel targets Hezbollah in Lebanon, further straining regional peace efforts.

JPMorgan Warns of Severe Oil Price Surge Amid Market Imbalance  

JPMorgan Chase & Co.(JPM.US) warns that the global oil market faces a severe imbalance as supply disruptions, shrinking inventories, and ineffective spare capacity push prices higher. Analyst Natasha Kaneva suggests extreme price hikes may force Western nations to cut consumption. With supply disruptions reaching 13.7 mbd in April and inventories depleting rapidly, Kaneva argues the market can only rebalance through significant demand suppression driven by soaring oil prices.

KSA Stocks

Alinma Bank Announces Intention to Issue SAR-Denominated Additional Tier 1 Sukuk  

Alinma Bank(1150.SA) has announced its plan to issue Additional Tier 1 Capital Sukuk under its SAR 5 billion Sukuk Programme. The issuance, aimed at strengthening the Bank’s capital base, will be managed by Alinma Capital Company and HSBC Saudi Arabia as Joint Lead Managers. The offer will be a private placement, with the number and value of Sukuk determined by market conditions. The issuance is expected to commence after the release of the Bank’s Q1 2026 financial results. The Bank will provide further updates as necessary.

SRMG Secures Contract for Al-Thaqafiya Channel Operations  

Saudi Research and Media Group(4210.SA) has been awarded a contract by the Ministry of Culture to manage Al-Thaqafiya Channel. The deal involves providing satellite and digital broadcasting services, as well as content management, production, and marketing. The contract, valued at over 5% of SRMG's 2025 revenue, spans three years from April 23, 2026. No related parties are involved.

Rabigh Refining and Petrochemical Reduces Accumulated Losses to 14.77% of Share Capital

Rabigh Refining and Petrochemical Co.(2380.SA) announced a decrease in its accumulated losses to 14.77% of its share capital as of March 31, 2026. The company reduced its capital from SAR 21,973.65 million to SAR 16,710 million, lowering the nominal value of shares. A net profit of SAR 1,466 million, driven by improved product margins and lower finance charges, contributed to this reduction. Regulatory requirements for companies with losses over 20% are no longer applicable.

Yanbu National Petrochemical Co. Reports Decline in Q1 2026 Revenue and Net Profit  

Yanbu National Petrochemical Co.(2290.SA) posted Q1 2026 revenue of SAR 1,320.1 million, down 12.7% YoY, and net profit of SAR 11.2 million, a 18.2% drop. Lower average sales prices and reduced sales quantities, partially due to a scheduled ethylene glycol plant maintenance, impacted performance. Despite higher product prices compared to the previous quarter, increased input costs and lower sales volumes limited profit growth. The external auditor issued an unmodified conclusion.

Jabal Omar Receives License for Rotana Hotel's Third Tower  

Jabal Omar Development Co.(4250.SA) has received a license from the Ministry of Tourism to operate the third tower of the Rotana Hotel, part of Phase Four of the Jabal Omar project. The tower includes 205 rooms, three restaurants, a cafe, meeting rooms, and a health club. This addition is expected to positively impact the company's Q2 2026 revenues.

Saudi Ceramics to Adjust Asset Lifespan Following Board Approval

Saudi Ceramic Co.(2040.SA)'s Board has approved a reassessment of the useful lives of its property, plant, and equipment, following a study by a consulting firm. Some asset lifespans will be extended, while others will be reduced. This change is expected to positively affect 2026 financial results through adjusted depreciation expenses, without impacting cash flows.

USA Stocks

Google Cloud's TPU Demand Surpasses Supply Limits

Alphabet Inc. Class A(GOOGL.US) cloud CEO Thomas Kurian announced the 8th-gen TPU, split into training (v8T) and inference (v8i) lines, emphasizing their competitive edge from over a decade of development. He noted that demand exceeds supply, highlighting cost efficiency. Kurian warned companies without proprietary chips face financial risks, as relying on external funding becomes unsustainable amid global compute shortages.

Read more: Google May Pour Up To $40 Billion Into Anthropic As AI Compute Demand Booms

NVIDIA Hits Record High Amid AI Investment Surge

NVIDIA Corporation(NVDA.US) closed up 4.32%, reaching an all-time high with a market cap surpassing US$5 trillion. The stock rebounded 26% from March lows, driven by expectations of continued AI investment fueling long-term growth. The PHLX Semiconductor(SOX.US) index also saw a record 18-day rise, highlighting strong performance among US chipmakers. NVIDIA's breakthrough marks the end of nearly a year of a narrow trading range.

Intel Surges 23.6%, Best Day Since 1987

Intel Corporation(INTC.US) soared 23.6% to US$82.57, with US$23.004 billion in trading volume, marking its best single-day gain since 1987. Following an 84% rise in 2025, the stock is up 124% YTD. CEO Chen Liwu has revitalized the company through strategic AI investments, including US$5 billion from $NVDA. Evercore ISI upgraded $INTC to "buy," citing strong Q1 results with 7% revenue growth and a 22% AI segment surge.