Most Important News

1. PIF Anchors US$2 Billion Brookfield PE Fund;
2. Trump Warns of Military Action Against Iran;
3. Zain KSA H1 Profit Jumps 84%;
4. Solutions Signs SAR159.7 Million stc Contract;

At the close of 27/07/2026, the Tadawul All Shares Index(TASI.SA) rose by 0.02%, closing at 10769.12 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) dropped by 0.18%, closing at 21961.72 points.

On Monday, July 29, the three major US equity benchmarks ended the trading session with divergent results. The Dow Jones Industrial Average(DJI.US) climbed 0.51%, and the S&P 500 index(SPX.US) edged up a modest 0.02%. In contrast, the tech-heavy NASDAQ(IXIC.US) slipped 0.18%.

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PIF Anchors US$2 Billion Brookfield PE Fund

Brookfield announced the first close of its Middle East private equity fund, raising nearly US$2 billion with Saudi PIF as the anchor. Committing US$500 million, the firm targets buyouts in the GCC, allocating half to Saudi Arabia. The partnership also introduces an educational academy to the Kingdom, aligning with PIF’s goals to maximize returns, diversify capital markets, and develop local talent.

Trump Warns of Military Action Against Iran

US President Trump told Axios on the 27th that he suspended strikes on Iran to prioritize negotiations. However, he cautioned that if intensive diplomatic talks fail, strong military operations will resume. Addressing the timeline, he stressed time is limited, demanding either rapid progress or facing complete failure.

Citadel Predicts Surprise Fed Rate Hike

Citadel Securities expects the US Federal Reserve to unexpectedly raise interest rates this week, reinforcing Chair Kevin Warsh's anti-inflation credibility. Strategist Frank Flatte noted that a 25-basis-point hike would cement Warsh's commitment to price stability. He added that markets likely underestimated this hawkish shift, which would decisively end the era of forward guidance and emphasize the central bank's independence.

KSA Stocks

Leejam H1 Profit Falls Despite Revenue Growth

Leejam Sports Co.(1830.SA) said first-half net profit fell 22% to SAR112 million, while revenue rose 5% to SAR780 million. Second-quarter profit dropped 13% to SAR63 million on SAR411 million revenue, up 9%. The company cited expansion costs, higher finance expenses and weaker margins, while active memberships rose 8% to 522,820.

Zain KSA H1 Profit Jumps 84%

Mobile Telecommunication Company Saudi Arabia(7030.SA) said first-half net profit rose 84% to SAR405 million, despite revenue slipping 0.7% to SAR5.31 billion. Second-quarter profit climbed 61% to SAR204 million on nearly flat revenue of SAR2.65 billion, helped by a better revenue mix, lower finance costs, reduced depreciation, and SAR112 million in Universal Service Fund income.

AYYAN Board Proposes 24.72% Capital Cut

AYYAN Investment Co.(2140.SA)’s board recommended reducing capital by 24.72% to SAR757.6 million from SAR1.01 billion by canceling 24.9 million shares. The move would offset accumulated losses and return SAR50 million deemed surplus to shareholders, pending regulatory and EGM approvals. Alinma Capital was appointed financial adviser.

Nice One Swings to H1 Loss

Nice One Beauty Digital Marketing Co.(4193.SA) posted a first-half net loss of SAR11.3 million, versus a SAR22.8 million profit a year earlier, as revenue fell 6.4% to SAR484.2 million. The company cited tougher competition, fewer visits, higher marketing costs, offline store expansion expenses and increased slow-moving inventory provisions.

Solutions Signs SAR159.7 Million stc Contract

Arabian Internet and Communications Services Co.(7202.SA) signed a three-year SAR159.7 million related-party contract with Saudi Telecom Co.(7010.SA) to renew AI software and digital solutions licenses. The company said the deal will support system continuity, with financial impact starting in the third quarter of 2026. stc owns 79% of Solutions.

Mobily Confirms Preliminary Tower Sale Talks

Etihad Etisalat Co.(7020.SA) (Mobily) confirmed early discussions with TAWAL regarding the potential sale of its telecom towers. Addressing recent media rumors, the company stated that only a non-disclosure agreement has been signed, with no binding commitments or immediate financial impact. Mobily pledged to announce any future material updates in compliance with CMA disclosure rules.

SADAFCO Q2 Net Profit Drops 25% on Subsidiary Woes

Saudia Dairy and Foodstuff Co.(2270.SA) reported a 25% year-on-year drop in its current quarter net profit to SAR88.2 million. Consolidated sales fell 2.6% to SAR750 million, dragged down by its Polish subsidiary Mlekoma. However, excluding Mlekoma, core quarterly sales grew 6.9%. The company attributed the profit decline to surging raw material costs, regional maritime disruptions, and broader inflationary pressures.

USA Stocks

Apple Reclaims Top Market Cap Spot

On Monday, Apple Inc.(AAPL.US) surpassed NVIDIA Corporation(NVDA.US) as the world’s most valuable company for the first time since April 2025. Climbing 1% to US$4.95 trillion, it was boosted by investor approval of its cautious AI spending. Meanwhile, NVIDIA Corporation(NVDA.US) fell 5% to US$4.77 trillion on AI infrastructure cost worries. In 2026, Apple Inc.(AAPL.US) has surged 24%, outperforming a 4% rise for NVIDIA Corporation(NVDA.US).

AI Financing Fears Hit Nvidia

NVIDIA Corporation(NVDA.US) reportedly discussed a US$250 billion financial guarantee for OpenAI to buy its chips, sparking anxiety over circular AI financing. The stock sank 5% Monday, erasing US$250 billion in valuation and surrendering its top global rank to Apple Inc.(AAPL.US). Analysts warned this arrangement heightens credit risks, driving the chipmaker's credit default swap spreads to record highs.

SK Hynix Plunges Over 7% to Record Low, Showing Immunity to AI Catalysts

SK hynix Inc. Sponsored ADR(SKHY.US) tumbled over 7% to a record low of US$143.02, breaching its US$149 issue price and valuing the firm at US$1.04 trillion. It joins other major IPOs that have dropped below offering levels. Markets dismissed South Korea's US$950 billion semiconductor partnership, highlighting growing investor apathy toward AI tailwinds amid rising concerns over circular AI financing risks.