Most Important News

1. Marble Design to Transition to TASI;
2. Trump Issues Ultimatum to Iran as Deadline Looms;
3. Batic Forms Audit Committee for 2026-2030 Term;
4. ADES and SPC Ink Gas Development Deal;

At the close of 06/04/2026, the Tadawul All Shares Index(TASI.SA) dropped by 0.08%, closing at 11262.62 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) rose by 0.07%, closing at 22538.79 points. 

Following Trump's comments about swiftly defeating Iran, the S&P 500 index(SPX.US) and NASDAQ(IXIC.US) hit intraday lows but closed at over two-week highs. The three major US indices all gained, with chip stocks up over 1%, including Sandisk Corporation(SNDK.US) and Micron Technology, Inc.(MU.US) rising over 3%. AppLovin(APP.US) surged nearly 7%. Bitcoin surpassed $70,000, climbing over 4% from its low. Oil prices reversed a 2% intraday drop to rise, while gold briefly turned positive after falling over 1%.

Trump Issues Ultimatum to Iran as Deadline Looms

US President Trump warned Iran to agree to a Strait of Hormuz deal by April 7, 8 PM ET, or face the destruction of all bridges and power plants within four hours. Trump insisted any agreement must ensure free navigation through the strait. Iran rejected the ceasefire terms, demanding war reparations and sanctions relief. The conflict has disrupted global oil supplies and heightened economic tensions.

Saudi Arabia Sees Record Tourist Spending in 2025

Foreign tourists spent SAR 159.9 billion in Saudi Arabia in 2025, marking a 4% increase from 2024's SAR 153.6 billion, according to the Saudi Central Bank. Meanwhile, outbound travel spending by Saudis rose 7% to SAR 110.4 billion. The nation recorded a travel surplus of SAR 49.4 billion, highlighting the difference between inbound and outbound travel expenditures.

KSA Stocks

Marble Design to Transition to TASI

Marble Design Co.(9575.SA) announced its board's approval to move from Nomu-Parallel Market to the Main Market (TASI) on April 6. Estidamah Capital has been appointed as the financial advisor for this transition. The move requires market approval and fulfillment of all necessary conditions. The company stated that any significant updates will be communicated promptly.

KHC Subsidiaries Partner with Sumou for Riyadh Land Development

Kingdom Holding Co.(4280.SA) subsidiaries Kingdom Real Estate Development Co. and Trade Center Co. signed an agreement with Sumou Real Estate for infrastructure development, marketing, and sale of residential and commercial land in Riyadh. The 3.07M sqm project includes a 36-month timeline, with Sumou earning 6.5% of development costs and 2.5% of sales. The estimated sales value is SAR 4B, subject to market conditions, with financial impact reflected progressively.

BinDawood to Acquire 51% of Vaza Food for SAR 217.9 Million

BinDawood Holding Co.(4161.SA) has signed a Share Purchase Agreement to acquire 51% of Vaza Food Company for SAR 217.9 million. This acquisition, pending regulatory approval, aligns with BinDawood's strategy to expand in premium confectionery and specialty foods. The deal aims to enhance product diversity and operational efficiency, supporting Saudi Vision 2030 by strengthening local food manufacturing and supply chains. The transaction is expected to positively impact BinDawood's financials long-term.

Batic Forms Audit Committee for 2026-2030 Term

Batic Investments and Logistics Co.(4110.SA) announced the formation of its Audit Committee, effective April 3, 2026, for a four-year term ending April 2, 2030. Members include Turki AlObailan, an expert in financial regulation; Faisal Alhindi, a seasoned energy strategist; and Dima Al-Hurib, a specialist in IPO readiness and corporate governance. The company stated the appointments align with its governance goals. 

ADES and SPC Ink Gas Development Deal

On April 6, Syrian Petroleum Co. (SPC) signed a contract with Ades Holding Co.(2382.SA) to develop Syrian gas fields, aiming to boost production. The contract includes maintaining existing wells and drilling new ones with advanced technology. Production is expected to increase by up to 25% in six months and 50% by year-end. The deal covers five fields, with potential expansion later.

Equipment House Renews SAR 260M Credit Facilities with Bank Albilad

Scientific and Medical Equipment House Co.(4014.SA) renewed its SAR 260M Shariah-compliant credit facilities agreement with Bank Albilad(1140.SA), valid until Jan. 29, 2027. The deal includes the assignment of contract proceeds and a SAR 276M promissory note as guarantees. The funds will support current and future projects, as well as the issuance of bank guarantees and letters of credit. The company confirmed no related parties are involved.

USA Stocks

Foxconn Begins Trial Production of Foldable iPhone

Industry sources revealed that Foxconn has started trial production of Apple Inc.(AAPL.US)'s foldable iPhone. In 2025, supply chain companies reported that Apple aims to launch its first large foldable screen iPhone in the second half of 2026. Previous reports indicated that the iPhone Fold will debut in September alongside the iPhone 18 Pro series, marking Apple's most expensive phone yet.

Broadcom Secures Long-Term Deal with Google for AI Chips

Broadcom Limited(AVGO.US) announced a long-term agreement with Alphabet Inc. Class A(GOOGL.US) to supply custom TPUs and networking equipment for its next-gen AI systems until 2031. The deal boosted Broadcom's stock by over 3% post-market on Monday. The company will also provide Anthropic with approximately 3.5 GW of TPU-based AI compute power starting in 2027, reflecting rising demand for Broadcom's AI solutions.