Most Important News

1. The US-Iran Deadlock Continues, Negotiations Remain Divided, Trump Says Time Is Running Out;
2. Ataa Educational Reports SAR 88.6M Net Profit for Nine Months Ended April 2026;
3. Biggest IPO Ever: SpaceX Plans to Go Public June 12, Musk Says He Won’t Sell Shares;

At the close of 17/5/2026, the Tadawul All Shares Index(TASI.SA) decreased by 0.25%, closing at 10967.94 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) fell by 0.70%, closing at 22833.63 points.

As of Friday’s close, the S&P 500 index(SPX.US) decreased by 1.24%, the NASDAQ(IXIC.US) fell by 1.54%, and the Dow Jones Industrial Average(DJI.US) decreased by 1.07%.

The US-Iran Deadlock Continues, Negotiations Remain Divided, Trump Says Time Is Running Out

According to Bloomberg, the United States and Iran remain deeply divided in negotiations to end weeks of conflict and resume shipping through the Strait of Hormuz, with both sides still failing to reach an agreement. Over the weekend, President Trump warned Iran to “act quickly” or “there will be nothing left,” after previously threatening strikes on Iranian civilian infrastructure. Meanwhile, the United Arab Emirates and Saudi Arabia have reported new drone attack incidents. According to CNBC, a drone caused a fire at a nuclear power plant in the UAE, while Saudi officials said they intercepted three drones. These incidents have heightened market fears over further deterioration in the regional situation. The US is seeking concessions from Iran, including the removal of uranium used in Iran’s nuclear program, while Iran insists the US has “made no substantive concessions” and is attempting to secure the concessions it failed to obtain during wartime.

US Treasury Yields Surge to Near Two-Year High on Inflation Fears

Bloomberg reports that US 30-year Treasury yields are approaching 5%, the highest in about two decades, as inflation concerns from the Iran war push up energy prices and hurt the bond market. Traders now expect a new era of higher borrowing costs. DoubleLine Capital CEO Jeffrey Gundlach said a Fed rate cut at the next meeting is "out of the question" given current inflation. US gasoline prices are near record highs, pressuring both consumer confidence and President Biden’s approval rating. Rising global rates add to uncertainty for investors this week.

Saudi Arabia and China to Build Green Ammonia Plant and Hydrogen Equipment Hub in Jazan

Saudi Arabia Refineries Co.(2030.SA) has signed a non-binding agreement with China’s Ally Hydrogen Energy to build a green ammonia plant and hydrogen equipment hub in Jazan Industrial City. The deal also includes plans for a local R&D center with Saudi universities and supports Saudi Arabia’s goal to boost renewable energy and become a major green hydrogen exporter by 2030. The project is part of the Kingdom’s broader push to expand its clean fuels industry and meet rising international demand for low-carbon energy.

KSA Stocks

Ataa Educational Reports SAR 88.6M Net Profit for Nine Months Ended April 2026

Ataa Educational Co.(4292.SA) announced a net profit of SAR 88.61 million for the nine months ending April 30, 2026, up 11.1% year-on-year, despite a 0.7% decline in sales to SAR 538.38 million following the suspension of its training and recruitment sector. The profit increase was driven by improved education sector results and removal of losses from discontinued operations, while other revenues fell due to the absence of one-off gains from last year.

For the latest quarter, sales declined 8.7% quarter-on-quarter to SAR 178.05 million and net profit fell 21.6% to SAR 29.28 million, mainly due to a new revenue recognition policy reflecting fewer academic days in the period. EPS for the nine months reached SAR 2.11, up from 1.89 last year.

Baazeem Trading Approves SAR 11.1M Cash Dividend

Baazeem Trading Co.(4051.SA) announced that its General Assembly approved a cash dividend of SAR 11.14 million (SAR 0.11 per share, 11% of capital) for the second half of 2024, to be paid on June 7, 2026. Other resolutions included appointing PKF AL Bassam as auditor for 2026-2027, approving SAR 2.11 million in board remuneration for 2025, spinning off the company’s factory into a wholly owned subsidiary, and authorizing the Board to distribute interim dividends during 2026. Shareholder attendance at the meeting was 28%.

USA Stocks

Biggest IPO Ever: SpaceX Plans to Go Public June 12, Musk Says He Won’t Sell Shares

Reports say SpaceX plans to go public on June 12 in what could be the largest IPO in history, aiming to raise up to $80 billion or more, with a Nasdaq listing under the ticker "SPCX." The IPO timeline has accelerated, with the prospectus expected as early as next week and share sales possibly starting June 11. Elon Musk said he will not sell any of his SpaceX shares. The listing is expected to be a highlight of this year’s IPO market.

Berkshire’s “New Leadership, New Moves”: Cuts in Retail and Energy, Big Alphabet Buy, New Airline Position

In Q1, Berkshire Hathaway Inc. Class A(BRK.A.US) invested $2.6 billion to build a new position in Delta Air Lines, Inc.(DAL.US). Its holdings in Alphabet Inc. Class A(GOOGL.US) shares surged over 200%, making it the seventh largest position—up three spots from last quarter and the biggest gainer among its top ten holdings. For the first time in nearly seven years, Berkshire no longer holds Amazon and has fully exited Visa(V.US), Mastercard(MA.US), and UnitedHealth Group Incorporated(UNH.US). The Chevron Corporation(CVX.US) stake was reduced by 35%. After three straight quarters of selling, Apple Inc.(AAPL.US) remained unchanged.